Madoff Victims' 'Tragedy' Said to Have Escaped Scrutiny by SEC

Bloomberg by David Scheer, Jesse Westbrook | Dec. 14, 2008 (News Report)

Bernard Madoff’s investment advisory business, alleged to be a Ponzi scheme that cost investors $50 billion, was never inspected by U.S. regulators after he subjected it to oversight two years ago, people familiar with the case said.

The Securities and Exchange Commission hasn’t examined Madoff’s books since he registered the unit with the agency in September 2006, two people said, declining to be identified because the reviews aren’t ... Full Story »

Posted by Leo Romero

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Subjects: U.S., Business
Topics: U.S. Economy, Finance
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Posted by: Posted by Leo Romero - Dec 14, 2008 - 7:29 AM PST
Reviewed by: Leo Romero (review), Kenneth Sibbett (review), Fabrice Florin (review), Tyler King (review), Randy Morrow (review), Dwight Rousu (review)
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Edited by: Leo Romero - Dec 14, 2008 - 7:29 AM PST

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Dwight Rousu
4.0
 by Dwight Rousu - Dec. 14, 2008

The story is informative. It tells us the SEC did not investigate, but is weak in not reporting why the SEC did not investigate.

See Full Review » (12 answers)
Fabrice Florin
3.0
 by Fabrice Florin - Dec. 14, 2008
See Full Review » (2 answers)
Randy Morrow
3.7
 by Randy Morrow - Dec. 14, 2008
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Leo Romero
3.0
 by Leo Romero - Dec. 14, 2008
Leo posted this story.
See Full Review » (1 answer)
Kenneth Sibbett
4.4
 by Kenneth Sibbett - Dec. 14, 2008

It's great journalism and a damed shame that it's took this long for this story to break. The man turned himself in for God's sake.

While reading this article along with the one in the NY times it seems the SEC was blinded by greed and reputation. While this man hung with Senators, Congressmen, and the Washington elite, 50 billion dollars is gone and hundreds of people are wiped out. How this could be perpetrated without the knowledge of his brother and sons is absurd. As Girish Reddy, managing director at Prisma Partners said, " The numbers were too good for too long" A lot more people knew of this con, it will ... More »

See Full Review » (7 answers)
Tyler King
3.8
 by Tyler King - Dec. 14, 2008
See Full Review » (5 answers)

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