I hope everyone listened to Harry Markopolos yesterday testify about Madoff before Congress. He was brilliant. He was exactly right about what to do with the SEC. He said put all 3500 employees on the street and let the New York State Attoney General enforce securities law. He said there had been no federal enforcement for the last eight years. He had lots to say and he said it all well. The entire testimony is available on CSPN3.
No one can deny that this was an important bit of history. Markopolos was testifying about the biggest bilking of investors in the history of the world. Every news organization covered it. MSNBC broadcast the event live. Tell me why this event did not exist for CNN. There was no coverage. It’s as if it never happened. I find this very strange and a very disturbing editing of world events.
February 5, 2009 No Comments
I hope the next Congress regulates these criminals in every way possible. From the BBC:
Nicola Horlick, boss of Bramdean investments, told the BBC: “I think now it is very difficult for people to invest in things that are meant to be regulated in America, because they have fallen down on the job.”
December 15, 2008 No Comments