Hey, did you hear about Meaghan Cheung? It’s the age-old SEC tale, one you’ve probably read about recently in the op-ed section of the New York Times. Ms. Cheung, you see, was an Enforcement Division branch chief (a mid-level supervisor) in the SEC’s New York office who signed off on the decision to close a 2006 SEC investigation into Madoff’s operation without taking any enforcement action. She was a graduate of Yale University and Fordham Law School and worked for years at the SEC to rise up to the level of supervisor.
