I can’t for the life of me understand why this was allowed to go on for so mmany years. All of the SEC people involved from the head of the Commission to the lowest level investigator should be tried for being stupid in public and any other crime that they could be prosecuted for.
What always amuses me is that the feds completely botched the regulation of the banking and securities industries, but NOW want to regulate insurers – the one segment of the financial services industry that DID NOT have any problems in the last few years.
sec top people knew a long time ago about
bernie they were all his friends and lackeys from day one (40 years ago)and
none of them is under investigation?
the sec is a ponzi scheme themselves
nobody with the credentials that the sec
did not see the 10 foot tall chicken
standing in the middle of the street
It is pretty clear from the evidence we KNOW was brought to their attention (repeatedly, in fact) that they knew about the scheme. They knew about it in fact for years. It is impossible to question this FACT — they knew.
The question then is and must be, “Why was no action taken?” Who really made the decision to kill any investigations, and what was their motivation for doing so?
Questions I am sure we will never see honestly answered in the public sphere. We may get a Scooter Libby-esque falling on the sword and vague comments neither confirming nor denying anything… “I have no specific recollection of any meeting during which veritable proof of Mr Madoff’s ponzi scheme was described”… unless maybe something comes up during discovery in a suit against the SEC, but even then that would probably be sealed by the court, or Obama will step in and declare state secrets priveledge because of course the integrity of our financial system is a matter of national security.
I can’t for the life of me understand why this was allowed to go on for so mmany years. All of the SEC people involved from the head of the Commission to the lowest level investigator should be tried for being stupid in public and any other crime that they could be prosecuted for.
What always amuses me is that the feds completely botched the regulation of the banking and securities industries, but NOW want to regulate insurers – the one segment of the financial services industry that DID NOT have any problems in the last few years.
If you leave out AIG, Hartford and a few others, the insurance companies have not had too many financial problems. D-oh!
Although you do make a good point – we should not expect the Fed’s to handle anything with competence.
I am more concerned about what is left!??
If they could not figure out Madoff for 3-4 years, what else don’t we even know about?
Where there was 1, then there are 10!
Why do you think the Swiss are fighting NOT to release records – this fraud goes deeper than anyone cares to image!
Insurers can’t be banks and banks can’t be insurers. What an incredibly bad idea that was…Thanks Phil.
sec top people knew a long time ago about
bernie they were all his friends and lackeys from day one (40 years ago)and
none of them is under investigation?
the sec is a ponzi scheme themselves
nobody with the credentials that the sec
did not see the 10 foot tall chicken
standing in the middle of the street
It is pretty clear from the evidence we KNOW was brought to their attention (repeatedly, in fact) that they knew about the scheme. They knew about it in fact for years. It is impossible to question this FACT — they knew.
The question then is and must be, “Why was no action taken?” Who really made the decision to kill any investigations, and what was their motivation for doing so?
Questions I am sure we will never see honestly answered in the public sphere. We may get a Scooter Libby-esque falling on the sword and vague comments neither confirming nor denying anything… “I have no specific recollection of any meeting during which veritable proof of Mr Madoff’s ponzi scheme was described”… unless maybe something comes up during discovery in a suit against the SEC, but even then that would probably be sealed by the court, or Obama will step in and declare state secrets priveledge because of course the integrity of our financial system is a matter of national security.