Harry Markopolos, of Independent Financial Fraud, testified before Congress today about Bernie Madoff, his Ponzi schemes, and the research that he presented to the SEC, of which all was ignored until the economy caused Madoff’s house of cards to begin to crumble. The video, from CSPAN, shows that the SEC was not capable of handling the information that was presented to them, even as well “gift wrapped ” as Mr. Markopolos made it for them. The video is 12 minutes long, but worth listening to Mr. Markopolos.
It seems that, according to Mr. Markopolos, only the “tip of the iceberg” has been uncovered in the Madoff schemes.
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February 4, 2009 at 9:29 pm
Stothes
Anyone surprised?
February 5, 2009 at 5:55 am
Interested Bystander
Stothes,
Yes, I am surprised and disgusted.
I found this over at Citizen Wells blog. Look at about the 6th comment from Ms Helga
http://citizenwells.wordpress.com/2009/02/03/tony-rezko-talking-blagojevich-indictment-obama-indictment-february-3-2009-rezko-moved-sentencing-postponed-rezko-cooperating/
Seems this person has some pretty good knowledge of some wrong doing in the Water Company in Chicago, and some information on tax issues.
When are we going to become proactive instead of reactive?
February 5, 2009 at 7:06 am
Interested Bystander
Hey All,
Now tell me I heard Obama wrong.
Tell me he didn’t say that he was giving a tax cut to 95% of taxpayers.
Now tell me I’m wrong that the second piece (I’m not sure what his first one was but the article says his second major legislative victory) of legislation Obama signs is actually a TAX INCREASE on those very people he said he was giving a tax cut too.
More crap from this administration.
Here’s the article:
http://www.cnn.com/2009/POLITICS/02/04/schip.vote/?iref=mpstoryview
So he’s paying for the SCHIP program on the backs of smokers. A 62 cent a pack tax increase.
What a hypocrite this man is. He said he was going to raise taxes on those who made 250,000 oh no wait that was 150,000 oh my bad maybe that was 100,000, and the first tax increase he signs will affect the middle class more than any other segment of society.
I hope people are beginning to realize that this man is an emplty suit.
February 5, 2009 at 11:20 am
JAMES
Here’s the thing with the increased cigarette tax. First, the experts have said that with the present number of smokers in the US, we need to ADD 250,000 new smokers to raise enough to cover the cost of the SCHIP program. OK….. Government hard at work….. the stimulus package includes $70 MILLION DOLLARS for “SMOKING CESSATION” Programs…… I think they call that talking out both sides of your mouth!