05
Feb
09

Is The SEC Ever in Trouble Now

Just finished watching on Bloomberg, Mr. Harry Markopolos testify before the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, regarding his gallant efforts to inform the SEC office in New York about Bernard L. Madoff and his $50 billion investment fraud.

Mr. Markopolos was dynamite with quick, direct and resounding answers to the Representatives tentative ears – In fact they were basically in awe of Mr. Mr. Markopolos, with one Representative going so far as to offering the him the position of “Chief Whistle Blower” Director for the restructured SEC.

Here’s part one on YouTube of Mr. Markopolos:

Part 1: Markopolos on Madoff

This morning, the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises is holding a hearing to assess the alleged $50 billion investment fraud engineered by Mr. Bernard L. Madoff.

This is the second in a series of hearings that will help to guide the work of the Financial Services Committee and the Capital Markets Subcommittee in the 111th Congress in undertaking the most substantial rewrite of the laws governing the U.S. financial markets since the Great Depression.

Mr. Harry Markopolos, an independent financial fraud investigator for institutional investors and others seeking forensic accounting expertise, as well as a Chartered Financial Analyst and Certified Fraud Examiner, testified at the hearing.

Learn more at: http://www.speaker.gov/blog/?p=1675

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