Bernie Maddoff may receive sentence commutation

The SEC failed in its mission to protect investors from fraud. That is the reality.

 

perhaps the SEC should shut your trading down completely, after all, you might hurt yourself and your family and might sue the government for failing to protect you from yourself. Your arguments get dumber with each post. Perhaps you might want to take a deep breath and sleep over it.

 

The mission of the SEC is to protect the public from fraud not from foolish decisions.

 

Then you don't understand the mandate of the Sec. The SEC cannot prevent crime. Neither can any other law enforcement. It can enact regulations that make it harder for those who deal with investors to cheat. And punitive damages can be applied to scare bad actors. But you can't prevent all crimes. Just as you can't prevent drug trafficking or murders or other injustices. You can attempt to make it harder for those who act in bad faith. You blaming the SEC for Madoff's crimes is ludicrous.

https://www.investor.gov/introduction-investing/basics/role-sec

 

I blame the SEC for failure to detect the fraud.
The SEC proved inadequate to detect his crime which spanned decades. They received a number of warnings about his activities. They ignored the warnings. They conducted examinations of his firm as part of their regular routine and failed to detect the fraud.

 

And you are of course the expert to surmise as to why that was the case.

 

Just give the guy the death penalty already and be done with it. I wouldn't want my taxes going to the prison system to support the guy who stole all my wealth and caused me to struggle with my life, while he sleeps in a prison cell larger than the NYC apartment I live in that is 1/3 the size of his.

You always have to keep perspective.

Madoff needs to DIE.

 

The DOJ shows it as pending. So they got the petition.

 

Let's be factual, about 60-70% was recovered and returned to investors. Not to mention he didn't steal all the rest but redistributed it among the well, rich. So you could look at him as a failed Robin Hood. The point is that none of the victims went starving...

 

zdreg said:
I blame the SEC for failure to detect the fraud.
The SEC proved inadequate to detect his crime which spanned decades. They received a number of warnings about his activities. They ignored the warnings. They conducted examinations of his firm as part of their regular routine and failed to detect the fraud.
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You are 100 per cent correct.