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Strategies & Market Trends : Fundamental Value Investing

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To: bruwin who wrote (936)	5/13/2009 12:03:14 AM
From: Madharry	1 Recommendation Read Replies (1) of 4719

I went to the hard assets conference in new york city and had the pleasure of hearing Harry Marcopolis , the person who tried to alert the SEC to the Maddoff fraud , speak. He was very clear about feeling that SEC is staffed with people who know how to make sure that the right pieces of paper are in the file as opposed to people capable of ferreting out wrongdoing. He had responded to a question from a gentleman , who was wondering why depite his qualifications of being a CPA, and having years of retail brokerage experience, he could not get an interview to be an investigator for the SEC. Mr. Marcopolis is also skeptical of how Geithner, who failed miserably in regulating the large banks, while head of the New York Fed, will now be successful at regulating the banks as the Secy of the treasury, a concern that is shared by many. Apparently Geithner was queried by Maxine Waters at length about ex Goldman Suck personnel now employed by treasury, including his chief of staff, and the extent of aid received by Goldman Sacks via various governmental programs. My guess is this is far from over.

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