In His Own Words

March 4, 2009 7:24 AM

At this 2007 meeting of a non-profit group called the Philoctetes Center, Bernie Madoff seemed to think the SEC was doing a good job!

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by WhistleBlower961 March 4, 2009 4:14 AM EST: This is our government regulation at work. Unfortunately they failed to do their job and projected a false image as guardian of the public against securities and exchange fraud and abuse. The SEC was incompetent and for all intends and purposes, were part of the scam because their investigation turned up no wrong doing. Their approval condoned Madoff to rip off more people for a long time. It would have been so easy to detect the fraud by properly auditing the accounting and records of trades (which there were none).

The SEC should hire people like Harry Markopolos to work there and fire all the idiots that allowed this to happen. Shame on the SEC. This should have never happened if the SEC did their job.; Reply to this comment


by aastewa March 3, 2009 12:19 PM EST: People who are dishonest and greedy should all be lined up and shot. I do not understand why he was able to do these crimes for such a long period of time and everytime there was a red flag no one investigated it because of his credabiltiy on wall street. What is out world coming to. Where were the auditors? Just because people act like they know what they are doing doesn't mean they do. If something seems to good to be true then usually it is!!!; Reply to this comment


by nelson012 March 2, 2009 12:33 PM EST: i think the whole thing is shameful and i wonder why he's not in jail where he belongs; Reply to this comment


by margisimm March 2, 2009 9:24 AM EST: it is so sad that a man like madoff can do this to people. If it is too good to be true it is. I would love to see him naked walking up and down Times Square for a week. He needs to be humiliated and shamed and THEN after being stripped of his wealth, everything. Let him see how to start over at his age. SHAME on you Madoff........; Reply to this comment


by atbay1 March 2, 2009 12:28 AM EST: Watch this video several times to see a master con man at work. Notice no one asks any pointed questions. He repeats over and over "regulation" to reassure his victims that even
if someone wanted to rip off another it would be impossible. It is a masterful performance.
"We trade a trillion dollars a year". Someone could have asked for some details. Where
and who were all the traders? I wonder if I was in the audience if I would hav fallen for his b.s. Notice how non-specific everything he says is. I doubt I would have fallen for it, because one summer I watched a group of con man makes tens of thousands off the crowds at the state fair with similar well-honed lines o bull.; Reply to this comment


by steve1052 March 1, 2009 7:25 PM EST: Why is he not in jail?; Reply to this comment