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Markopolos: I gift wrapped and delivered the largest Ponzi scheme in history to the SEC

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Azooz Donating Member (271 posts) Send PM | Profile | Ignore Wed Feb-04-09 01:45 PM
Original message
Markopolos: I gift wrapped and delivered the largest Ponzi scheme in history to the SEC
 
Run time: 12:26
https://www.youtube.com/watch?v=uw_Tgu0txS0
 
Posted on YouTube: February 04, 2009
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Posted on DU: February 04, 2009
By DU Member: Azooz
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Markopolos: I gift wrapped and delivered the largest Ponzi scheme in history to the SEC

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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 02:51 PM
Response to Original message
1. If this guy and anyone else who was uncovering the details in
the reports was afraid for their lifes, then you can imagine the bravery that it took Elliot Spitzer to try and bring accountability to financial institutions he saw ripping off people. You had to know that if they were spying on Mr. Spitzer, he must of been onto something big. Now Mr. Markopolos has shown us that those who were suppose to be watching the system were not, and my question is why not?
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pjt7 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 03:50 PM
Response to Reply #1
2. This guy is an American Patriot
He also say's there more fraud's out there, that the SEC won't touch.
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The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 04:07 PM
Response to Reply #1
4. Watchdogs became Team Players
It's happening all over.
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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 03:56 PM
Response to Original message
3. Nine years of investigations and reporting to those responsible for
...enforcement of SEC regulation violations and no actions were ever taken? Wow! Not even a squeak from those at the SEC who should have shut the Ponzi operation down certainly after the 2nd report become available
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janet118 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 04:33 PM
Response to Original message
5. This guy lives a couple of towns west of me . . .
Here's an excerpt from an article in the local paper:

“He’s a social guy. We just had a Christmas party, and him and the boys came to it,” said Mario Mastro Jr. of East Bridgewater, an instructor at the karate school attended by two of Markopolos’ sons. “He’s a polite guy, well dressed. He and his boys always seem happy.”

Yet, as he brought accusations over the years against Madoff – a powerful figure who once chaired the NASDAQ stock exchange – Markopolos sometimes feared that there might be consequences for his family.

“The fewer people who know who wrote this report the better,” he said in a 2005 report on Madoff to the U.S. Securities and Exchange Commission. “I am worried about the personal safety of myself and my family.”


What a stand-up guy.

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Delphinus Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 05:03 PM
Response to Original message
6. I think I'm in love!
Wow! This guy is passionate - whew!

As I was listening, I kept thinking of everything Sibel Edmonds went through - it's strikingly similar.
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barbtries Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 06:04 PM
Response to Original message
7. wow.
i hope someone's listening....
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Best_man23 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-04-09 06:12 PM
Response to Original message
8. This man offered to go UNDERCOVER
In order to get additional evidence on Madoff, but the SEC REFUSED.

How many Bush lackies are in the government now?
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Dave From Canada Donating Member (932 posts) Send PM | Profile | Ignore Wed Feb-04-09 06:15 PM
Response to Original message
9. The largest Ponzi scheme in history is social security for anyone currently under 50 years of age.
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