CNBC - "SEC missed Madoff"

Discussion in 'Wall St. News' started by wilburbear, Dec 12, 2008.

  1. Step 1 of SEC investigation. Ask for audit and begin verifying numbers.

    But wait, Bloomberg states the auditors were 2 unheard of guys sitting in a "13 x 18 room".

    The SEC had responsibility here for decades.

    Senator Grassley should ask for the SEC file on Madoff and see what decades worth of verification produced.
     
  2. mind

    mind

    madoff was said to have best relationship with the SEC.
    that might have helped ...
     
  3. Yes, that's the best hope for a fraudster - take refuge in the safe house that is the SEC. But, you have to be a professional to receive the benefits of being sheltered by the SEC, so it's impractical for most.

    Unlimited gains are possible with SEC protection.
     
  4. vikana

    vikana Moderator

    And then the SEC has the resources to go after Tuco. Gotta wonder who got paid off at the SEC.

    What a joke.