So, Now the Republicans are Blaming Pr0n for the Meltdown

While it is true that senior enforcement personnel at the SEC spent a lot of time downloading pr0n on their PC's, this story has been around for years, as ProPublica notes, and the reason that it's hitting the media spin cycle now is because the Republicans, Darrell Issa specifically, are pushing the story because they want to stop reform.

Basically, they want to say that the failures were because of a few bad apples at the SEC, and pr0n is a good way for them to illustrate this, because pr0n attracts the media, and it is a simple narrative, which attracts the incompetent.

So it's a win-win for the Republicans who want to side-track reform: It's a pretty bauble to distract the press with, and they can claim that it shows that government shouldn't regulate.