Madoff Outrage: Whistleblower Testimony Rips SEC

[AK100]

Quote from Anaconda:

LOL!

SEC works for Wall Street insiders. Madoff was one of them.

Too true.

So what if he was a scammer, many on the Street were making good money from his operations.

Don'tr get in the way of the money

 

[GCSICLRBC]

Quote from JSSPMK:

SEC ought to be seced for failure to do their job, same goes for CFTC who are currently turning a blind eye to manipulative actions on Comex, when that scheme blows up they will once again say they couldn't identify manipulative actions blah di blah

The CFTC does a *much* better job than the SEC.

The SEC is the laughing stock of the regulatory world. The CFTC does a good job, in my opinion. That $147 crude oil fiasco had less to do with speculators than it did with (pig) Bernanke's inflationary policies & Israel's rabidly bellicose posture towards Iran. An attack on Iran would've drove crude to all-time highs; it became a buy the rumor, sell the fact trade.

You can't *blame* the speculators for being messengers.

Some allege manipulation in the comex silver & gold markets. I'm sure JPM & some others "collude" to drive down PM prices at key resistances but I haven't looked into it beyond that.

Most gov't data is false - who doesn't know this? From CPI to other reports...

You just have to make do with what we have.

The SEC is a damn embarrassment though.

 

[JSSPMK]

Quote from GCSICLRBC:

The CFTC does a *much* better job than the SEC.

The SEC is the laughing stock of the regulatory world. The CFTC does a good job, in my opinion. That $147 crude oil fiasco had less to do with speculators than it did with (pig) Bernanke's inflationary policies & Israel's rabidly bellicose posture towards Iran. An attack on Iran would've drove crude to all-time highs; it became a buy the rumor, sell the fact trade.

You can't *blame* the speculators for being messengers.

Some allege manipulation in the comex silver & gold markets. I'm sure JPM & some others "collude" to drive down PM prices at key resistances but I haven't looked into it beyond that.

Most gov't data is false - who doesn't know this? From CPI to other reports...

You just have to make do with what we have.

The SEC is a damn embarrassment though.

Not better or worse, but perhaps as bad as. Read this please:

http://www.investmentrarities.com/12-08-08.html

 

[Humpy]

Quote from Harry M. about the SEC

" roared like a mouse and bit like a flea"

give the boy a medal

 

[cstfx]

"I wore gloves so my fingerprints would not be found on the envelope."

Listening to this guy, he sounds like a tin hat is his preference of hat wear.

This guy is a fruit loop.

 

[jficquette]

This is fascinating testimony. They could charge ppv for this.


John

 

[jficquette]

Quote from flytiger:

What's amazing is, they are still covering up. The amount of the fraud is a multiple of what you hear, and the damages done to pensions are simply unbelievable.

I just think the Govt is afraid to tell the truth. You screw a bunch of rich Jewish folks in Palm Beach, that's their problem. Screw 20,000 Union Tradesmen, that's everybodys' problem.

Madoff gets the "Syracuse Carpenter's Union". That's 150,000,000. To an advisor, that's 800 grand a year, let's say. To Madoff, he just made 150 million, minus fees-all profit. That's a lot of vig to spread among other union officials. You think that's the only one he hosed? Not the way the game is played. Look at the Joe Bruno indictment. He got bribed to bring a money manager to Unions.

There ain't just one cockroach.

Did you hear this guy say that Spitzer was an investor and that he tried to approach Spitzer about it?? Did I hear that right?


John

 

[flytiger]

And you all said Patrick Byrne was nuts, and that I was nuts, and that we wore tinfoil hats, blah blah blah.

He just threw FINRA iunder the bus. Goodbye mary schapiro.

He said in Europe, Madoff hit people w/untaxed offshore accounts. Told ya it was 150bb. That of course is with Europe.

He was afraid for his life. Why is that hard to believe. Who do you think is behind this?

Jesus, people, wake up. This is what we've been saying for years.

He just said, Madoff was loaded with dirty money. The mob and terrorists. but you laughed at us for that, too. And yes, his bd was a premier naked shorter. Hell, they named it for him.

 

[traderbee]

haha he was asked what would he do to fix the SEC. i was screaming to the television saying "make him the head of the SEC!"

 

[flytiger]

A congressman just named about 7 upstate NY Union Pensions wiped out. I posted that here someplace, but it was commonsense.

Why are they keeping it quite? What do you think 20,000 workers, wiped out, are going to do????

That's right. Same thing you would if you worked 35 years, contributed, and got nada.

Now, go to the Union officials, and figure out the bribes.

Nightie night.

We are fubared.