We were governed eight years by an administration that did not believe in
regulation.  Thanks Bush.

I’m interested, Freddy.  It’s amazing that an article in Barron’s appeared as early as 2001, and still nothing was done.  Madoff stated that he was astonished that his fraud could go on so long.  I wonder how this was possible.  Did he bribe people?
It is becoming apparent that American Law and Justice is too corrupt to function.

Of course the SEC knew about Madoff… they didn’t “miss” anything! They DELIBERATELY let him carry on BECAUSE, in my opinion, IT PROFITED THEM TO DO SO.

This bunch knows or cares about only ONE thing - PROFIT. I have no idea how the SEC benefited by Madoff’s ponzi scheme, but I’d be absolutely astonished if the majority of the members didn’t profit somehow by allowing/enabling this scandal to flourish.

People forget that in a Ponzi scheme, those people that get involved early make money.  I would say that hundreds of people made out pretty well with Madoff——but where are they??!!——laying low, counting their money and perhaps having a good laugh?

If anybody is interested, here’s an hour long podcast from NPR affiliate WHYY in Philadelphia which aired 8/31/09:

In 2001, business reporter ERIN ARVEDLUND wrote an article for the financial paper, “Barrons,” questioning Bernard Madoff’s business practices and returns on Wall Street. Her story was soon buried by the news of 9/11 and went on to live in Moscow, reporting for the New York Times, and working on Wall Street herself. In December 2008 Arvedlund watched the TV news unraveling Bernie Madoff’s Ponzi scheme and has turned her reporting into a new book on how Madoff fooled his investors and the SEC. It’s called, “The Rise and Fall of Bernie Madoff: Too Good to Be True.” Listen to the mp3

http://www.whyy.org/podcast/083109_100630.mp3

Radio Times with Marty Moss-Coane

The Sec, Wall Street and both political parties have protected Madoff and are still protecting him to prevent people from understanding where he invested the money he didn’t buy stocks with.  Even pseudo-progressive organs like Truthdig are protecting him with bullshit. 

SEC obviously knew that Madoff was running a fraud, as did much of Wall Street, and whistleblowers said so, in detail, at the time but, amazingly, they were ignored.  And they are still being ignored.  Some deeep scandal appears to be buried here.

The American power system is extremely corrupt and senile, and no reasonable person expects much of it.  But stealing 60 billion dollars and just ignoring the details of the crime is still not possible, even in the US.

    WHERE WAS MADOFF INVESTING THE MONEY HE STOLE?

Inquiring minds want to know.

If they busted all the criminals, the whole house of cards would come down. They only bust the stupidest and most flagrant violators, and then only when they absolutely have to.