Now that the tide's going out, whose to say the SEC wasn't in on it, in some way? http://www.bloomberg.com/apps/news?pid=20601087&sid=aVzCdm.m0txc&refer=home
The SEC was in communication with Madoff. And was determined to look the other way (an investigation of 2 years ago turned up nothing). This amounts to tacit permission to continue the fraud.
i'm really serious. we'll have to disband the SEC and individual investors and mutual funds fund their own market regulatory authority. self regulating industry. SEC is funded by who????? the money trail...investigate it.
Patchie 's been saying this for four years. Was on Ron Insana's show two years ago. Investigatethesec.com so madoff chaired the NASDAQ. I wondered how the Fiieros were fined 1mm, then traded from the NASD headquarters.