SEC Ignored Credible Tips About Madoff, Chief Says
Do we not have a pattern here with Bush and company?
WP-The nation’s chief securities regulator said yesterday it was “deeply troubling” that his agency had failed to catch perhaps the largest Ponzi scheme in history despite “credible and specific allegations . . . repeatedly brought to the attention of SEC staff” regarding the activities of Bernard L. Madoff.
In making this unusually frank statement, Securities and Exchange Commission Chairman Christopher Cox announced he had ordered an internal investigation.
His remarks followed a day of growing demands for the agency to explain how it missed Madoff’s alleged $50 billion fraud, including the apparent failure of regulators to spot numerous and massive inconsistencies during an investigation of his company that ended quietly in 2007.
Perhaps the investigating attorney from the SEC attorney investigating him back in 1999 and then married his niece has something to do with the SEC allowing this to continue?
FYI
Madoff scandal could cost Uncle Sam up to $17B
http://www.chron.com/disp/story.mpl/ap/business/6172101.html