Madoff Scald: SEC Inspector-General Meets With Fraudster

Jun. 18, 2009:

NEW YORK (CNN) -- Admitted fraudster Bernard Madoff, the mastermind of history's biggest Ponzi scheme, had a three-hour meeting with the Securities and Exchange Commission's top watchdog this week, several sources with knowledge of the situation told CNN.

Read the whole story: Jun. 18, 2009

Comments

[GoodFeathers]

If there are "Securities and Exchange Commission's top watchdogs", then how someone like Mataoff can pull a colossal scheme like this one?

[nomorefed]

Your house is worth $125,000 but you paid $250,000 don"t worry with "Mark-To-Market" Neutered you can say whatever you want to about your home value and no one can refute you!
Now when you go in for a loan, simply declare the house is worth $300,000 and along with your clean "ON-THE-BOOKS Balance Sheet" with no visible other debts means you get money from the FED at 1% interest or maybe less!
Why can"t this world be true for ALL AMERICANS like it is for Wall Street?
We do not own Congress and they DO using ill-gotten FUNDS!
Are the Wall Street Banks really healthy? With "OFF-THE-BOOKS" accounting and "MARK-TO-MARKET" Neutered who knows what the truth is!

good articles: http://kl.am/tsc.am/tsc> recommended website

[loki]

They just want in on this deal. He has to have billions of cash laying around.

[blimie]

They probably wanted to make sure he didn't reveal their complicity in the scandels. SEC- hard at work, but not for us.

[ManiDeli]

Madoff could last another 20 years. I’m sure he’s thinking carefully about his future comforts along with his interrogators.

[ManiDeli]

-At the Interrogation Room.

FBI: now here’s the list of the different club Feds you can help us chose for you to spend the rest of your life in. They range from AA to DD. At DD you can only shower once a week and the menu serves hot dogs seven days a week etc. We strongly recommend against that one. Check the varying accommodations and we’ll arrange them for you depending on how much you talk. Look over the list. Take your time.

Madoff: This first one looks great, golf course and swimming pool. Any interesting celebrities there?

ETC.

Don’t fail to tune in to the next episode to find out what Madoff says.

[grdavis1019]

Good strategy. Learn from the best crooks to prevent it from happening in the future.

[abigailc]

Prison for the rest of his life??? He is 75 YEARS OLD. HE decided when he was finished. HE decided what he would tell and not tell. HE controlled the entire situation. Even if he gets life, he has lived and celebrated his life and seems to be throwing in the towel. This is not punishment. Punishment would be throwing his ass in jail twenty years ago.

[GoodFeathers]

Well, he will be sorry when he meets Bubba.

[minapod]

Tips for time!

[nomorefed]

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%.
Since May 2008, we have lost 5.5 million jobs. The biggest losers were:
Manufacturing 1.5 million lost
Finance & Prof Serv 1.5 million lost
Construction 1.1 million lost
Retail & Leisure 1.3 million lost

good articles http://www.bit.ly/12t.ly/12NCJR>recommended reading

[larry278]

This could be the start of Madoff's plea bargain deal.

[VOTERremorse]

Social Securtiy is a way bigger ponzi scheme than what Madoff had going. I do not see government officials sitting in jail for it though. Let him out of jail on one condition and that is that he spends every dime he makes paying back his victims. He is not doing anybody any good in jail, they could make him a deal an make him recover the money stolen or be executed. Rotting in jail will not help those scammed one bit.

[CraziesAreRunningTheShow]

Burn him at the stake.

[Troutboi]

They could have talked to him, years ago. When they were told about him.

[apolloguide]

Where's the money Bernie? Which branch of the Bank of Israel?

[SmootyBooty]

The SEC?
Really?
Does anyone still work there?
I mean, what the f***?