SEC Chief Mary Schapiro Faces Criticism For Madoff-Related Hire

03/09/2011 11:23 am ET | Updated May 25, 2011

The Securities and Exchange Commission took a beating two years ago for failing to detect Bernard L. Madoff's multibillion-dollar Ponzi scheme during the decades that he ran it.

Now, its chairwoman is coming under Congressional fire for hiring as the S.E.C.'s general counsel someone with a Madoff financial interest -- David M. Becker, who participated in matters involving how the scheme's victims would be compensated.

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