"This is not the official Website of the U.S. Securities and Exchange Commission. On the contrary, it is the Website of the SEC's Loyal Opposition." You are then given two options. Choose to "learn more about the reality of SEC enforcement," or "read the SEC's self-serving propaganda."

If anything is to be said about this new Web site, it's that it definitely grabs your attention.

For investors, journalists, attorneys, business people, academics and government officials, the site details issues confronting the SEC's Division of Enforcement and aims to dispel popular misconceptions about the SEC.

The founder, Florida attorney Gary Langan Goodenow of Miami, Florida, served at the SEC's Miami office from 1989 to 1995, climbing the ranks from staff attorney, to branch chief, to Senior Litigation Counsel and finally to Senior Counsel, where he made the final recommendation on those cases the office would investigate or prosecute, and those it would decline. 

Some of the topics addressed on the Web site in relation to the SEC's enforcement authority include investor confidence, money laundering, pyramid schemes, and fraud.

Goodenow's message is not subtle: the SEC's Division of Enforcement is an oxymoron. According to this attorney, the "watchdog" has far less enforcement authority than the public is led to believe.

To change the current state of affairs, Goodenow argues that SEC attorneys should be deputized as Assistant United States Attorneys to make criminal prosecutions because "the securities fraud crooks understand criminal prosecution." He urges that the federal government use the SEC attorneys already with the securities law knowledge, instead of waiting for the Department of Justice to gear up the President's new "Financial SWAT Team".

To check out this site, click here.