Harry Markopolos, Madoff Whistleblower, Slams SEC for Ignoring Him

nytimes.com:

A former investment manager is prepared to tell a House hearing on Wednesday that the Securities and Exchange Commission ignored his repeated warnings about the dealings of the disgraced financier Bernard L. Madoff.

The manager, Harry Markopolos, asserts that he submitted warnings about Mr. Madoff since 2000 and he assails the agency for ignoring his warnings or brushing them aside. "Nothing was done," he declares, in what Dow Jones Newswires and Fox Business report is his prepared testimony.

Read the whole story: nytimes.com

Comments

[bavb63]

in a blind taste test people prefer lies over truth 10 to 1.

[gi]

FBI, SEC, Federal Reserve 'Failed to Connect the Dots' to Wall Street . Like 9/11 Attacks, Federal Agencies Missed Clear Warning Signs of Financial Crisis. Bin Laden wanted to colapse our economy but we did the job oursleves.

[T Pol]

I support Obama but protest giving Annette Nazareth a role in anything. As the former head of enforcement at the SEC and later a commission, this wife of former vice chair of the Fed said that complaints about Naked Short Selling (from thousands of small American investors and damaged companies) were just "people mad that their stocks didn't go up."

Spread the word.

No surprise that the SEC ignored this, too.

[nogimmicks]

The investors who lost money should file a multibillion dollar law suit against Chris Cox. He and his agency (includes Obama's choice) must be held accountable. That will send a signal to the next fox-watchi­ng-the-hen­house. Actually, SEC is another worthless agency that can be closed to save taxpayer money. FBI should be enough.

[Biloxiblues]

Does the SEC head have any personal liability for not discharging the duties of his office? In my business it's called "malpractice" and I get to lose everything I own. How about "criminal negligence"? Is anyone responsible for anything anymore? This is truly sickening.

[Paul Peete - Huffpost Blogger]

Heck yeah he's liable... liable to land a cushy job at some investment firm looking for the next way to flim flam the public after this dust settles. I just posted an article on the disdain these gato gordos have for us.
Give it a read and let me know what you think of it.

http://www.huffingtonpost.com/paul-peete/its-us-versus-them-with-t_b_162653.html

[frederico]

This is America's Wall Street. Rich people are good and holy. Anyone else can eat their droppings and die. Anyone who questions the actions of the rich will be dealt with swiftly by their flacks. Flacks who happen to like living the good life. Flacks who enjoy going to the parties of the rich. Drinking their delicious wine, eating their magnificently prepared food, and kissing their neatly tucked behinds. There was no better flack for the Bushies than Chris Cox but he wasn't the only SEC officer with his head up some billionaire's buttocks.