Harry Markopolos testified before the House Financial subcommittee that his warnings in 2000 to the Securities and Exchange Commission about Bernie Madoff went unheeded. If you missed it, here are some highlights.
Chairman Paul Kanjorski introduces Markopolos:
Markopolos: "Nothing was done."
Markopolos: SEC ignored my repeated warnings, from 2000 to 2008. He says the SEC is "captive to the industry" and was "afraid of Mr. Madoff."
Rep. Ed Perlmutter: "There's the need for regulation so the need for taxpayer doesn't have to pick up all the pieces when everything goes to hell."