<Glazblog/>

SEC = Scheduled for Extreme Cruelty ?

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

1. On Friday 19 December 2008, 16:11 by Dominique De Vito

""
The US should first care for their own dirty laundry instead of "bringing freedom and democracy" to the rest of the world.
""

(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.

2. On Saturday 27 December 2008, 00:51 by pierre

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?