Madoff documents reveal incredulous, unfocused SEC

[steven johnson]

In 2005, some at the SEC dismissed Markopolos when he presented the agency with a report on Madoff, titled "The World's Largest Hedge Fund is a Fraud."

If stupidity is a crime, these guys should get life.

Hundreds of documents released on Friday by U.S. Securities and Exchange Commission's portray an agency at times skeptical or dismissive of evidence that the now imprisoned mastermind of the world's largest Ponzi scheme was up to no good.


In September, SEC Inspector General David Kotz issued his full report on how the agency mishandled warnings and assigned inexperienced lawyers to examine Madoff.

In September, SEC Inspector General David Kotz issued his full report on how the agency mishandled warnings and assigned inexperienced lawyers to examine Madoff.

He said this led to five botched probes starting in the early 1990s that might have unearthed Madoff's estimated $65 billion Ponzi scheme.


Madoff documents reveal incredulous, unfocused SEC

[izquierdista]

1. SEC under Bush

Their biggest triumph was putting away Martha Stewart for having done 1/10th of what Dubya was alleged to have done.