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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (43796)	12/12/2008 2:13:59 PM
From: KyrosL	Read Replies (1) \| Respond to of 219688

Yes, it seems a bunch of people pointed out the impossibility in Madoff's returns. One repeatedly begged the SEC to investigate. He gave up in frustration after years of trying to get the SEC interested. From today's WSJ: "An executive in the securities industry, Harry Markopolos, contacted the SEC's Boston office in May 1999, urging regulators to investigate Mr. Madoff. Mr. Markopolos continued to pursue his accusations over the past nine years, he said in an interview on Thursday, and according to documents he sent to the SEC that were reviewed by The Wall Street Journal. "Bernie Madoff's returns aren't real and if they are real, then they would almost certainly have been generated by front-running customer order flow from the broker-dealer arm of Madoff Investment Securities LLC," Mr. Markopolos wrote to the SEC in November 2005. The SEC declined to comment on the matter."