I don't see it as porn being blamed for anything here.
http://www.cnn.com/2010/POLITICS/04/...orn/index.html
They could have been surfing political blogs or downloading LOL Catz images - point is, they weren't doing their jobs.
I mean, eight hours a day? Or 1800 visits in a two week period?? I *hope* they were customers (and if they were they were probably ripping off the site/s).
But the fact that it was porn makes the whole metaphor more gripping (pun intended) - instead of policing the financial sector, "SEC officials were preoccupied with other distractions."
The government was basically jerking off while Rome was burning...
:D