Alleged Fraudster Bernie Madoff's Tie To SEC

[babylonsister]

Madoff bought influence in Washington
By EAMON JAVERS & LISA LERER | 12/16/08 4:43 AM EST


Within a day of the Dec. 11 arrest of Wall Street financier Bernard L. Madoff, his Washington lobbyists were scrambling to sever all ties to a man who’s been accused of a $50 billion fraud and who may go down in history as the largest financial scam artist ever.

The lobbying firm Dow Lohnes Government Strategies filed paperwork on Dec. 12, terminating its lobbying contract with Bernard L. Madoff Investment Securities. That ended more than 10 years of Madoff lobbying in Washington, in which his investment firm spent more than $400,000 to influence the federal government.

But lobbying is just a piece of Madoff’s influence in Washington. His family has contributed nearly $400,000 to political committees. And his niece, Shana Madoff Swanson, who serves as a compliance attorney at his firm, is married to a former high-ranking Securities and Exchange Commission official, Eric Swanson.

Swanson was the assistant director in the SEC’s Office of Compliance Inspections and Examinations’ market oversight unit in Washington. According to his biography, Swanson “supervised and conducted inspections and examinations that involved a wide range of issues including best execution, order handling, insider trading market manipulation.”

more...

http://www.politico.com/news/stories/1208/16608.html

[spanone]

1. K&R

[sam sarrha]

2. SEC couldnt have possably even opened a book.. had they even made a cursery investigation he would

have been exposed. a guy on Book notes was talking about it.. madoff only had "ONE", really old accountant, nearly 80 yrs old, for 17 years worth of 50 billion dollars of investments. think about that..... can you even do your own taxes.??

[babylonsister]

4. My husband does our taxes, but I get your point. The SEC

really should be in hot water, but I can see them skating on this, especially since the investors are going to get bailed out.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3646522

[KoKo]

3. Bernie will be OK....one of his attorneys is son of our Attorney General, Mike Mukasey...

Schumer and Mukasey & Co. will do right by everyone.

[Octafish]

5. What a coincidence.

With all those friends and relatives in high places, he's got to be a nice man.

[nichomachus]

6. The same SEC that gave Dubya a free pass on insider trading n/t