CNBC - "SEC missed Madoff"

[wilburbear]

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.

 

[mind]

madoff was said to have best relationship with the SEC.
that might have helped ...

 

[wilburbear]

Quote from mind:

madoff was said to have best relationship with the SEC.
that might have helped ...

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.

 

[vikana]

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

What a joke.