New Hero Harry Markpolos
I don't believe for a minute to understand the present financial situation.
However, in today's New York Times section "The Week in Review"
this article explains it in a pretty straight-forward (for the NY Times) way. What I particularly found interesting was their mention of Harry Markopolos, who was an investment banker who for more than 5 years has been trying to get the SEC to investigate Madoff. Markopolis presented documented facts to the SEC proving the inconsistencies on Madoff's tradings, but was time after time "blown off" by all levels of SEC "regulators".....FOR MORE THAN 5 YEARS!!!
What amazed me even more, and I did "googles" on Markopolos, only to find very very little on him. Time has proven him to be right, and even now, no one mentions him....except this article which ends recomnmending that Obama consider him for a high-level post in one of the soon-to-be many regulatory positions to be created.
However, in today's New York Times section "The Week in Review"
this article explains it in a pretty straight-forward (for the NY Times) way. What I particularly found interesting was their mention of Harry Markopolos, who was an investment banker who for more than 5 years has been trying to get the SEC to investigate Madoff. Markopolis presented documented facts to the SEC proving the inconsistencies on Madoff's tradings, but was time after time "blown off" by all levels of SEC "regulators".....FOR MORE THAN 5 YEARS!!!
What amazed me even more, and I did "googles" on Markopolos, only to find very very little on him. Time has proven him to be right, and even now, no one mentions him....except this article which ends recomnmending that Obama consider him for a high-level post in one of the soon-to-be many regulatory positions to be created.