There is a problem in this which unsurprisingly has been missed by the many, almost everyone, including the clever and the stupid, who know the answer afterwards but not beforehand. Where Markopolous explains that everyone he spoke to called Madoff a fraud, it is neither conclusive nor even compelling. Calling someone else a fraud can be simply expressing dislike of someone else or something else you cannot match or understand. All sorts of dislikes are brandished when often there is neither prima facie evidence nor subsequently ultimate evidence for accusing others. Various Wall Street players or all of Wall street have been called criminals, by hordes at ET. So when the language of envy, dislike and exaggeration is common it leads to the view that just one more, Markopolous in this case, is one of the same herd using exaggerated dislike with motive to do so. No way am I excusing Madoff but he would be amused that he could so easily navigate and safely bypass any who were bad mouthing him. What is so utterly tedious and dishonest, in all of this, is the blame gaming going on by Congress and others when all are so fallible.
Kudos to the heros on the hill today. Way to go. Go get um. Beware Masters of the Nothing, the flying tigers are coming The American people are done listening to whining from the thieves. We want to hear from the heros. Off with their heads
Aguirre was fired when he got to close to John Mack and Art Samberg. Aguirre told Deepcapture that he was fired as soon as he broached the topic of "naked shorting". Interesting, because the whole affadavit is about insidertrading, favors, etc. Aguirres' immediate superior, Paul Berger, almost immediately received a position with the law firm representing Mack. Aguirre is by no means finished. He is fighting back, trying to right that cesspool. Madoff is a gift. Without him, we never could have got Congress off the dime.
Here's a change of tune...... just out. Thomson Financial News BRIEF-U.S. SEC chief offers to meet with lawmakers on Madoff probe 02.04.09, 07:09 PM EST pic WASHINGTON, Feb 4 (Reuters) - Mary Schapiro, chairman of the U.S. Securities and Exchange Commission, in a letter to two House lawmakers: * Offers to meet with Democratic Rep. Paul Kanjorski and Republican Rep. Scott Garrett to discuss Madoff situation following House Financial Services subcommittee hearing earlier on Wednesday. Says 'Today's hearing before your subcommittee cannot have been satisfactory for you. The Commission's staff and I understand that you must have adequate information to fulfill your oversight responsibilities.' * Says needs to be full accounting of both Madoff's activities and why SEC failed to detect the fraud 'which we truly regret'. * Says SEC is committed to 'making changes that will enhance our ability to detect similar frauds'. (Reporting by Julie Vorman; Washington desk for company news; +1 202 898 8400, washington.newsroom@reuters.com)
But turn this around: SEC runs out and investigates Madoff on Henry's statement... Leaks to press....headline: Madoff investigated for fraud!!! Madoff's business collasped.....found to have a different strategy than what Henry was aware of.....everything on up and up....but now out of business, reputation gone..... Henry shrugs and says "Oh well, I'm sorry"..... But remember, SEC had no complaints from anyone other than a competitor????? Hindsight is always wonderful...... And Congress wonders why their approval rating is below 10%?? SteveD