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Aug 03, 2011


Nancy Schuhrke

Response to A. D. Jackson's comment: Yes, the gentleman to whom you refer in the Bernie Madoff debacle was Harry Markopolous and I'm currently reading his book, No One Would Listen. I HIGHLY recommend this book to everyone who wants to know how truly incompetent the SEC is. Not only was the SEC warned about Madoff once, Mr. Markopolous sent the SEC FIVE separate detailed notifications over an EIGHT year period and was ignored or dismissed each time. Supposedly, things were going to change at the SEC after the Madoff fraud exploded, but I have serious doubts about how much it's actually changed. The book is excellent reading, but disturbing. . . truly disturbing.

Kotz maybe

Maybe Kotz is the one off the reservation? He has made a number of criminal referrals that haven't panned out either. Who's checking to make sure he's doing his job properly?


What else is new with the SEC ?

A. D. Jackson

It has been said often about govt. / civil service: screw up and move up. I have read that some fellow in the investment business warned the SEC about Bernie Madoff that he could only generate such returns from a pyramid, but he was dismissed as a jealous competitor. To some extent we should blame Alan Greenspan of the Federal Reserve who thought the economy can and should regulate itself. And those who fix prices and "water the stock", are they not honorable men?

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