ET Post from THREE YEARS AGO was: SEC investigating MADOFF FINANCIAL?

[stock777]

fly, I give credit to Cdntrader for finding this. When I started reading the thread, I thought it was today, then noticed the dates.


Hard to believe this post was not 100% legit and the regulators once again proved their ineptitude.

Until they get serious forensic guys in every brokerage, we can't know who is doing what.

Try some serious hard time and massive (multi million) fines to put teeth in that.

Madoff has not only ruined his own life at 70 but seems to have taken his family down with him.

 

[B. Rowshan]

Quote from trademonster:

I actually got some update and found out that it's Spitzer's office doing the investigation not SEC.

All my years on ET, and this thread totally blows my mind.

I thought w the illinois gov. i've seen it all. i thought w aig blowing $10B of bailout $$ on more stupid trades i've seen it all.
But w this story and this thread NOW i've seen it all.

Someone send this thread to cnbc or the wall st journal please!

 

[lassic]

lol, typical cynical responses back then

 

[B. Rowshan]

Quote from lassic:

lol, typical cynical responses back then

Yup, of course ivan the moron had to chime in with his 2 cents..

 

[B. Rowshan]

i'm not a cut and paste type of guy but here goes nothing..

http://www.theaustralian.news.com.au/story/0,24897,24789457-643,00.html

 

[lassic]

...Mr Madoff’s lawyer, Dan Horowitz, said: "Bernard Madoff is a long standing leader in the financial services industry with an unblemished record.

"He is a person of integrity. He intends to fight to get through this unfortunate event."



god bless lawyers

 

[TGregg]

Quote from lassic:

...Mr Madoff’s lawyer, Dan Horowitz, said: "Bernard Madoff is a long standing leader in the financial services industry with an unblemished record.

"He is a person of integrity. He intends to fight to get through this unfortunate event."



god bless lawyers

He also got out on a 10MM bond. Secured by his apartment, even. Geez. I'd be history if I were him.

 

[sammybea]

I have to second the shock of this thread.. I've been on here for nearly 7 years and this blows me away the most by far. Very nice find Cdntrader!

Hopefully this gets some type of national attention... as it should

 

[trendlover]

Quote from stock777:

Try some serious hard time and massive (multi million) fines to put teeth in that.

Madoff has not only ruined his own life at 70 but seems to have taken his family down with him. [/B]

Madoff said he knew business was insolvent for many years. I say he hid his profit knowing he will fail soon. Now he is fined 5 million and up to 5 years in prison. But is that what he really will get? Hmm?

 

[brocklanders]

Quote from trendlover:

Madoff said he knew business was insolvent for many years. I say he hid his profit knowing he will fail soon. Now he is fined 5 million and up to 5 years in prison. But is that what he really will get? Hmm?

I'd do 50 billion for 5 million fine... now he is off on a 10m bond??? secured by his apartment??? Can you say flight risk? This guy is 70 years old... what does he have to lose? Even if he eludes for only a few years he has gotten away with it. Read about James "Whitey" Bulger...If you know the heat is coming a few years in advance you can plan your "retirement" without much trouble.