Madoff
Madoff
On December 15, 2008, the Honorable Louis L. Stanton, a Federal Judge in the
United States District Court for the Southern District of New York, appointed
Irving Picard as Trustee for the liquidation of Bernard L. Madoff Investments
Securities LLC (“BMIS”) pursuant to the Securities Investor Protection Act (“SIPA”).
[source: http://madoff.com December 17, 2008]
More than $17,000,000 in assets disappeared from Madoff's firm in 2008. Various charities and funds invested at least $7,500,000,000 with Madoff. All gone. Will Madoff go to jail? Will he pay back his victims? Is he ashamed of what he did? Nah.
How did he get away with it for 38 years? A ponzi scheme only works during a stock market boom and when SEC and other alledged watchdogs look the other way or are complicit in the scam.
Are there other crooks who just haven't been discovered? You betcha! Who are they?
SEC Chairman Christopher Cox, Securities Exchange watchdog 
SEC Commissioners
 Kathleen L. Casey |
 Elisse B. Walter |
 Luis A. Aguilar |
 Troy A. Paredes |
Or maybe they were just incompentent and ignored the reports.
