SEC bans whistleblower from crazy program

June 18, 2014 in Video by The Manimal

Under the 2010 Dodd-Frank Act, the SEC has an anonymous whistleblowing program that encourages employees of corrupt financial institutions to submit anonymous tips. If the tip pans out, the whistleblower can get a monetary reward for up to as much as 30% of the money the SEC gets from the information. One anonymous whistleblower has submitted 196 applications in an attempt to cash in. The Resident explains why this all a scary, unfunny joke.