Madoff whistleblower tips SEC to two new cases

[Angrycat]

Quote from Anaconda:

You should know that SEC was created by Wall Street in order to restore public confidence in the stock market. And that is exactly what SEC did.

In other words, SEC is working as intended. Well, was working as intended, since it has technically expired as an institution which restores the public's confidence in the stock market.

Yes, the scam worked for a while and Joe Blow still wants to believe it works just as the SEC is screwing Joe Blow. Name one regulation (which does something that wouldn't happen in a free market) that actually protects Joe Blow investor instead of serving only to insulate industry insiders from competition at Joe's expense. I'm subject to such a dizzying array of regulation and I can't name one.

 

[crgarcia]

Quote from teasinggtara:

So Buffet is going to be exposed at last?

Buffett fills a quarterly SEC report with his holdings (Berkshire Hathaway's), so it's clear what he holds (altough with a quarter delay).

 

[teasinggtara]

Quote from crgarcia:

Buffett fills a quarterly SEC report with his holdings (Berkshire Hathaway's), so it's clear what he holds (altough with a quarter delay).

it was a joke

 

[Humpy]

America has a huge economic problem but also

a huge moral problem too. The philosophy of greed, crime and junk culture from Hollywood etc. has caught up big time and now the price may well be high !

To regain the respect of the rest of the world is going to be an uphill battle.

 

[Angrycat]

Quote from Humpy:

America has a huge economic problem but also

a huge moral problem too. The philosophy of greed, crime and junk culture from Hollywood etc. has caught up big time and now the price may well be high !

To regain the respect of the rest of the world is going to be an uphill battle.

I immigrated here from "the rest of the world". The rest of the world is an armpit by comparison. You have to ask yourself why you're so desperate for the respect of an armpit.

 

[JSSPMK]

CFTC remains ignorant to most obvious of cases, oh well.

http://www.investmentrarities.com/02-16-09.html

 

[AK100]

Some talk reported now in the media about Allan Stanford who's been selling notes that offer similar ultra low volatility returns to Madoff.

 

[Anaconda]

Quote from Angrycat:

Yes, the scam worked for a while and Joe Blow still wants to believe it works just as the SEC is screwing Joe Blow. Name one regulation (which does something that wouldn't happen in a free market) that actually protects Joe Blow investor instead of serving only to insulate industry insiders from competition at Joe's expense. I'm subject to such a dizzying array of regulation and I can't name one.

Well, that's pretty much the bottom line. After all, Wall Street was far from a clean operation when it started. It is what it is. After the fleecing of the general public in 1929, the general public reacted as anyone with common sense would. They chose not to deal with the sheisty establishment. Hence came the SEC to serve their purpose. Sadly, too many people fell for it.

The solution is easy & very attainable. If you don't like being swindled, don't deal with crooks. It's that simple. They need you a lot more than you need them.

 

[DataCruncher]

Markopolos took a brief swipe at the FDA too during his testimony. He oughta clean house there too.

 

[Humpy]

Lets face it - the capitalist, Americanised world is a breeding ground for crooks of every description. A paradise of theiving etc.

Organised crime is flourishing. They aren't robbing the banks with pistols at the check-in counter any more they run the banks from the inside and from the highest positions !!

Having fleeced the banks, now they are on to the taxpayers !!

The politicians are getting their kick-backs and hardly anyone can afford to object !! It's tough getting about when you have been shot full of holes.