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Madoff tipster faults SEC, says feared for safety

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posted on Feb, 4 2009 @ 05:28 AM
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Madoff tipster faults SEC, says feared for safety


finance.yahoo.com

The man who waged a decade-long campaign to alert regulators to problems in the operations of now-disgraced financier Bernard Madoff is assailing the Securities and Exchange Commission for ignoring his warnings and saying he feared for his physical safety.
(visit the link for the full news article)




posted on Feb, 4 2009 @ 05:28 AM
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Harry Markopolos repeatedly tried to warn the SEC Madoff was running a ponzi scheme was ignored costing investors billions. Sound like a familiar story for the deregulated Bush years!

"There was an abject failure by the regulatory agencies we entrust as our watchdog," he said in testimony prepared for the hearing that was posted Tuesday night on The Wall Street Journal's Web site."

Due to the inaction on the part of the SEC he became fearful for his life and his family.


finance.yahoo.com
(visit the link for the full news article)



posted on Feb, 4 2009 @ 06:36 AM
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Originally posted by Leo Strauss


Harry Markopolos repeatedly tried to warn the SEC Madoff was running a ponzi scheme was ignored costing investors billions. Sound like a familiar story for the deregulated Bush years!

"There was an abject failure by the regulatory agencies we entrust as our watchdog," he said in testimony prepared for the hearing that was posted Tuesday night on The Wall Street Journal's Web site."

Due to the inaction on the part of the SEC he became fearful for his life and his family.


finance.yahoo.com
(visit the link for the full news article)


Guy....since the inception of the SEC they have allowed so many criminals to swindle people out of money its not even funny. The SEC is a failure and should be abolished. We should just uphold the law that is on the books and sentence this prick accordingly. Keep in mind a lot of the inner circle was told Madoff was front running which is why he was making profits and no one else was. They in turn were telling their clients who laughed and gave the wink and nod. In other words people thought profits were coming from illegal activities against others and not from themselves. So I dont feel to sorry for a lot of the investors....not all however...



posted on Feb, 4 2009 @ 06:48 AM
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Ok, so why didn't he anonymously fax and post documents from the ponzi scheme to different authorities?
County state federal, even INTERNATIONAL!
He could have copied them and sent them.
He didn't act because, hes just a liar, a puppet and a fallguy.
A very rich fallguy I might add.



posted on Feb, 4 2009 @ 08:30 AM
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Originally posted by tjeffersonsghost

Guy....since the inception of the SEC they have allowed so many criminals to swindle people out of money its not even funny. The SEC is a failure and should be abolished. We should just uphold the law that is on the books and sentence this prick accordingly. Keep in mind a lot of the inner circle was told Madoff was front running which is why he was making profits and no one else was. They in turn were telling their clients who laughed and gave the wink and nod. In other words people thought profits were coming from illegal activities against others and not from themselves. So I dont feel to sorry for a lot of the investors....not all however...


Listen Pal...I don't think your idea of getting rid of the SEC will solve the problem of Wall St swindlers feel free to drop it in the suggestion box. Also I don't recall the last administration which forced the American taxpayers to hand over a trillion dollars at gunpoint with no plan or oversight...oh yeah that was Bush. We need a real government watchdog give it what ever alaphabet name you like!



posted on Feb, 4 2009 @ 08:53 AM
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Originally posted by Leo Strauss
Harry Markopolos repeatedly tried to warn the SEC Madoff was running a ponzi scheme was ignored costing investors billions. Sound like a familiar story for the deregulated Bush years!


Markopolos first presented his findings to the SEC in May, 1999. Last I checked, Bush didn't take office until January 2001.
Here's a link to a 2005 submission stating the original presentation.
online.wsj.com...

It should also be noted that Madoff's investment business dates back to the 60's and nobody seemed to notice all the red flags. In 1992 Avellino and Bienes were busted for running a ponzi scam and, somehow, all the money was invested with Madoff. Nobody thought to check and see if Madoff was involved. Odd since Madoff's father in law was the owner of the accounting firm that fed funds to him and that accounting firm employed two men, bienes and avellino.

Also odd that over the 40 or so years, nobody ever checked the audited financials. Nobody ever thought to investigate a guy earning 20% a year thru the late 80's and early 90's.

Yeah, pin this on bush. The guy is practically a functioning illiterate so he is an easy fall guy but this was going on for years before he took office.

Everyone who came in contact with Madoff dropped the ball.



posted on Feb, 4 2009 @ 08:55 AM
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reply to post by tjeffersonsghost
 


it should also be noted that Madoff helped write some of the laws which the SEC operates under.

He's even got The Madoff Exception in the naked short selling arena.

I'm guessing he paid off people left and right and that is why he's not in prison and under such heavy security. He's singing like trailer trash bimbos at an american idol tryout



posted on Feb, 4 2009 @ 09:14 AM
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Clinton was Bush lite and quite a bit smarter. The point is we need reform, we need a good guy to wade through the muck and money down there. I am sure it is very lucrative to look the other way. Kind of like building inspectors!



posted on Feb, 4 2009 @ 11:12 AM
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Originally posted by Leo Strauss

Listen Pal...I don't think your idea of getting rid of the SEC will solve the problem of Wall St swindlers feel free to drop it in the suggestion box. Also I don't recall the last administration which forced the American taxpayers to hand over a trillion dollars at gunpoint with no plan or oversight...oh yeah that was Bush. We need a real government watchdog give it what ever alaphabet name you like!


Pal? First off the SEC is and will never get rid of Wall Street swindlers. As long as there is greed there will be swindlers period. We have laws for swindlers and they should be prosecuted to the fullest extent. The SEC generally does not bring these people in the free market does. Look at Enron, Worldcom, Madoff, and on and on it wasnt the SEC who did them in it was the free market when they could not sustain the scam anymore.

I have a feeling if there was no SEC people would be a little more careful with their money instead of relying on some government bureaucracy to do it for them. Your mentality is the same mentality as the victims of hurricane Katrina. Dont worry the GOVERNMENT will save us and protect us. PUHLEASE! I know people lost their butt including friends of yours crakeur but that is the risk of investing. There is no such thing as easy money.

Regarding handing over trillions you wont hear me argue with you there. Its disgusting and unconstitutional to save failed banks and make no mistake they are paying this ransom money because the government KNOWS they are the cause of this mess with artificially low interest rates, huge increases in the money supply, then giving it to people who shouldnt have them. Please dont throw the it was Bush out there. Bush can rot in hell. I dont buy into the two party crime family Im sorry and I dont want to rely on the government for anything including protecting my investments. As you will see throughout history the government will let you down everytime. Got that Pal?



posted on Feb, 4 2009 @ 11:17 AM
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Originally posted by Crakeur
reply to post by tjeffersonsghost
 


it should also be noted that Madoff helped write some of the laws which the SEC operates under.

He's even got The Madoff Exception in the naked short selling arena.

I'm guessing he paid off people left and right and that is why he's not in prison and under such heavy security. He's singing like trailer trash bimbos at an american idol tryout


This is why there needs to be a complete separation of government and the banking industry. There should be no SEC for this reason. The SEC is a prime example of the cuddling that goes on between Washington and Wall Street and the taxpayer gets stuck with the tab. We should uphold contracts and pursue fraud to the fullest extent and toss the SEC. I invest my own money and I win some and I lose some but at least I always know how much money I have.



posted on Feb, 4 2009 @ 11:54 AM
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Originally posted by tjeffersonsghost

Pal? First off the SEC is and will never get rid of Wall Street swindlers. As long as there is greed there will be swindlers period. We have laws for swindlers and they should be prosecuted to the fullest extent. The SEC generally does not bring these people in the free market does. Look at Enron, Worldcom, Madoff, and on and on it wasnt the SEC who did them in it was the free market when they could not sustain the scam anymore.

I have a feeling if there was no SEC people would be a little more careful with their money instead of relying on some government bureaucracy to do it for them. Your mentality is the same mentality as the victims of hurricane Katrina. Dont worry the GOVERNMENT will save us and protect us. PUHLEASE! I know people lost their butt including friends of yours crakeur but that is the risk of investing. There is no such thing as easy money.

Regarding handing over trillions you wont hear me argue with you there. Its disgusting and unconstitutional to save failed banks and make no mistake they are paying this ransom money because the government KNOWS they are the cause of this mess with artificially low interest rates, huge increases in the money supply, then giving it to people who shouldnt have them. Please dont throw the it was Bush out there. Bush can rot in hell. I dont buy into the two party crime family Im sorry and I dont want to rely on the government for anything including protecting my investments. As you will see throughout history the government will let you down everytime. Got that Pal?


Guy? You remind me of that famous Reagan quote "The 9 most frightening words I've ever heard is, ' I'm from the Government and I'm here to help.'
Hardy Har Har!

Using your logic we should get rid of the FDA. We should all be careful when we buy our food. Let me just run over to the slaughter house and make sure my beef is ok for dinner this week. Let's all start our own firehouses in case we need them and we can rotate weekly being policemen too!

I hate duh gubmint if dem revenuers come on my property they'll be in for a big surprise!



posted on Feb, 4 2009 @ 12:08 PM
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Originally posted by Leo Strauss

Guy? You remind me of that famous Reagan quote "The 9 most frightening words I've ever heard is, ' I'm from the Government and I'm here to help.'
Hardy Har Har!

Using your logic we should get rid of the FDA. We should all be careful when we buy our food. Let me just run over to the slaughter house and make sure my beef is ok for dinner this week. Let's all start our own firehouses in case we need them and we can rotate weekly being policemen too!

I hate duh gubmint if dem revenuers come on my property they'll be in for a big surprise!


*Eating a jar of salmonella peanut butter* Mmmm good....oh wait were you talking to me? Oh the FDA? Real good track record they have as of lately too huh? How many more illnesses is the FDA going to let us have by eating tainted crap food?

As far as policeman that is local government and this is different. Police and Fire are paid with local property taxes and sales taxes. The federal government is different. It is given boundaries in the constitution (You know that thing they all swear to uphold) in which our federal government clearly in many sense have crossed. If a state wants welfare fine its not up to the federal government. Want medicare? No problems once again state government. You want protection of your food? Let the states handle it. Want FEMA no probs state government. Im probably going on a limb to say that people in Florida would be paying a lot more in FEMA taxes than Montana if it was state based. Why should people in Montana have to subsidize people to live in Florida? Same with California. Why are my tax dollars going to subsidize them? When its local and state government you can hold people accountable and march on the capital if they go astray. You dont get that luxury with the federal government. There is no accountability. Ask George Bush.

[edit on 4-2-2009 by tjeffersonsghost]



posted on Feb, 4 2009 @ 12:57 PM
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reply to post by Leo Strauss
 


right now i wish to scream... i have just made a post about this very same artical..

UNLIKE you I Recorded 42mins of this guy talking.. and trust me HE IS IN DEEP #

i will post it asap ... this guy is very much for real and unless YOU WATCHED AND LISTEND TO WHAT THE GUY SAID ON THE HILL please pleas please wait for me to post the vid.. here

the sound is not great and i did it out of total amazment at the guys compleat honesty..

i tried to make it breaking news or something but my thread was canned..

i have NEVER EVER EVER seen someone tell the *SNIP* on the hill how corrupt they infact are..

this guy IS A LEGEND in my eyes...
well spotted to the OP and me ofc who sat for 42 mins in total amazment!!!






Mod Edit: Profanity/Circumvention Of Censors – Please Review This Link.



[edit on 4-2-2009 by Crakeur]

sorry


[edit on 4-2-2009 by theresult]

www.c-spanarchives.org...

here is the full on the hill debate

this guy will BLOW ur mind!!!


[edit on 4-2-2009 by theresult]



posted on Feb, 4 2009 @ 06:52 PM
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Here is some of the testimony!

www.youtube.com...

[edit on 4-2-2009 by Leo Strauss]

[edit on 4-2-2009 by Leo Strauss]


ADMIN NOTE: Profanity in the title of the video resulted in my removing the embedded video.

[edit on 5-2-2009 by Crakeur]



posted on Feb, 4 2009 @ 07:10 PM
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reply to post by theresult
 


Thanks for the links I have not had time to listen to the entire testimony but sounds good so far!



posted on Feb, 4 2009 @ 08:19 PM
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Originally posted by tjeffersonsghost

*Eating a jar of salmonella peanut butter* Mmmm good....oh wait were you talking to me? Oh the FDA? Real good track record they have as of lately too huh? How many more illnesses is the FDA going to let us have by eating tainted crap food?

[edit on 4-2-2009 by tjeffersonsghost]


Well maybe we'll get a chance to meet building a new highway overpass. You might like working for the private FBI and CIA! Then ofcourse a state militia may be the path for you replacing our National Armed Forces. I think I'll take on clean water monitoring at all the factories along with corporate toxic waste! That sounds fun! Who needs those child labor laws or minimum wage, women and minority voting rights. The state can handle that just fine.
If Mississippi want to reinstate slavery well that is a states rights issue.

State government is government after all why don't you hate them too? Will they be taxing us? Will they have regulatory agencies?

This conservative "I hate the gubmint" is sooooooooooooooooooooo tired!



posted on Feb, 5 2009 @ 10:52 AM
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reply to post by Leo Strauss
 


Hey no problem leo, Cspan is a great chan for political info


Sometime next week they will have the bankers in the commitie.

Ill keep my eyes pealed and if i see or spot the day its on ill post on here

I think its Thursday next week.




posted on Feb, 5 2009 @ 12:34 PM
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Am I crazy? Am I paranoid? Am I stupid?, I just watched the head council for the SEC state that a modified form of executive privelege gives him the right to withhold evidence from Congress. Didnt I?
It looks to me like certain factions of the SEC absolutley had to have been in collusion with Bernard Madoff. And before everyone jumps down my throat I would ask that you watch alot of the video of the hearings. If you just saw what I just saw and heard from the SEC you might feel that way too. Evidence was litterally laid on the laps of the SEC FOR TEN YEARS!!! AND THEY DID NOTHING!!!! IT HAD TO HAVE BEEN DONE ON PURPOSE!!!
An entire section of the U.S. Government and the Banking system has been screwing the American people for way too long.

[edit on 5-2-2009 by spookjr]

[edit on 5-2-2009 by spookjr]

[edit on 5-2-2009 by spookjr]



posted on Feb, 5 2009 @ 05:09 PM
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my take away (my i should have realized it earlier) was that the SEC is intimidated/controlled VIA wall street.........perhaps it would not be a stretch to think that other Gov't "regulators" are in the same position.......i.e who is big pharma's biatccchh*&^?

oh, and here's a toasty tidbit that won't get any air time since they are a staunch ally

www.marketoracle.co.uk...


Just a quick note on the Madoff victims. A closer look of supposed victims reveals his co-conspirators. They are framed as victims by a subservient press that has no desire at all to publicize where the stolen money is stored. It is in the banks of an allied nation that is beyond reproach, bordering the Mediterranean.


i wonder just who he is referring to, markopolis was going to sing like a canary and let on who was in with madoff in all of this, i'm trying to find the link to the story i read yesterday...



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