SEC = Scheduled for Extreme Cruelty ?
By glazou on Friday 19 December 2008, 11:55 - Bushisms - Permalink
I think the Executioner has a few heads at SEC on his schedule...
"Scenario # 2 (Highly likely) Madoff Securities is the world's largest Ponzi Scheme*" -- Harry Markopolos, 2005-nov-07
On another note, I read a good article yesterday saying the US should first care for their own dirty laundry instead of "bringing freedom and democracy" to the rest of the world. I must say the existence of the Madoff fraud is another extraordinary slap in the face of the whole US system. A few years ago, the CIA did nothing with urgent warning signs coming from european intelligence services. Result was 9/11. The Federal Adminitration did nothing with warnings about New Orleans' levees. Result was Katrina. SEC did nothing with Markopolos' warning signs. Result is 50B$ vanished. And apparently, Markopolos started warning about Madoff ten years ago... Are all US governmental organizations so incompetent?
European readers, another excerpt of this document is a must-read for you:
"During a 2002 marketing trip to Europe every hedge fund FOF I met with in Paris and geneva had investments with BM."
and
"The French and Swiss Private Banks are the largest investors in Bernie Madoff"
Comments
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The US should first care for their own dirty laundry instead of "bringing freedom and democracy" to the rest of the world.
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(1) Unfortunately, this truth is hidden by Hollywood.
(2) At firt sight, and a side-point of view from your post, it looks like a summary of some part of the Noam Chomsky's thoughts.
Mind-boggling document, that report from Markopolos...
No doubt that if the $1.5 trillion bailout + stimulus don't work, we're going to shit. Who can trust the US? What else is there hidden?