Schapiro, option fraudster Madoff's "dear friend". http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ7ksCFH4Kn0&pos=7 Leaked SEC report on U.S. options market. SEC currently attempting to whitewash this issue by punishing for an extremely limited number of the violations. http://www.thememoryhole.org/corp/finance/sec_amex_report.htm After Madoff, after the financial meltdown, you have to conclude that you must have the SEC on your side to perpetuate/excuse your financial fraud.
When will SEC force Goldman Sachs to return its ill-gotten profits from front-running? That should be hundreds of billions of dollars, that's a lot of money. Someone in Congress may want to put some pressure on the crooks of SEC. Hilarious, everybody in SEC claimed they don't know Madoff. Yeah, I completely buy the claim of Mary Shapiro that she has no close relationship with Madoff. I also believe Levitt that he has never seen this Madoff guy before. "Who? Madoff? Never heard of him."
If he was doing forward conversions its obviously not on US equities via listed equity options. Not that I think the SEC does a great job but the SEC is not the watch dog on FX and Interest rate derivatives in the OTC markets.