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exchanges.nyse.com - 2/4/2009
How a Blog Might Have Stopped Madoff
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Perhaps the biggest irony of the Bernard Madoff case is that Harry Markopolos, the investor-turned-investigator who for years warned other investors and the Securities and Exchange Commission that Mr. Madoff was running a Ponzi scheme, today is haunted by regrets that he was not more effective ...
townhall.com - 2/4/2009
Walter E. Williams : The National Ponzi Scheme
— townhall.com — The U.S. Securities and Exchange Commission (SEC) was set up to combat fraudulent practices. The SEC's website... explains that "Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents ... (more) Walter E. Williams : The National Ponzi Scheme

Comments vote down Club for Growth found this 2/4/2009found this
Madoff Tipster Markopolos Cites SEC’s ‘Ineptitude’ (Update3)
bloomberg.com - 2/4/2009
Madoff Tipster Markopolos Cites SEC’s ‘Ineptitude’ (Update3)
— bloomberg.com — Feb. 4 (Bloomberg) -- Harry Markopolos , a former money manager who sought to convince regulators for... nine years that Bernard Madoff was a fraud, said the U.S. Securities and Exchange Commission suffers from “investigative ineptitude.” Markopolos ... (more) Madoff Tipster Markopolos Cites SEC’s ‘Ineptitude’ ...

Comments vote down The Bonddad Blog found this 2/4/2009found this
reuters.com - 2/6/2009
SEC chief says agency to act like hair is on fire | U.S.
— reuters.com — WASHINGTON (Reuters) - The new head of the Securities and Exchange Commission took steps on Friday to... reinvigorate the agency's policing of Wall Street, two days after a congressional hearing chastised SEC investigators for failing to uncover Bernard ... (more) SEC chief says agency to act like hair is on ...

Comments vote down Dealbreaker found this 2/6/2009found this

Blog Reactions

Midas Oracle .ORG:  How a Blog Might Have Stopped Bernard Madoff

Marginal Revolution:  Sentences to ponder

Overlawyered:  Markopolos’s case against Madoff

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Blog Reactions

How a Blog Might Have Stopped Bernard Madoff
Midas Oracle .ORG — Excellent point. Via the excellent Felix Salmon. - ---------- Midas Oracle .ORG = Site Map + Archives + Best + Post-Mortem + Probabilistic Predictions + Exchanges + Software + People + Links + Write A Post Or A Page + How To Publish

Sentences to ponder
Marginal Revolution — ... Ray Pellecchia is right: if Harry Markopolos had taken all of his evidence about Bernie Madoff and put it on a blog, instead of submitting it to the SEC, there's a good chance that would have been the end of Madoff right there. All the time Markopolos was talking to the WSJ, trying to get them to run a story about Madoff, would have been much better spent setting up an anonymous Wordpress blog and just putting the information and analysis out there himself ...

Markopolos’s case against Madoff
Overlawyered — Ray Pellecchia at the NYSE blog Exchanges (via Salmon) writes that had Harry Markopolos sounded the alarm about Bernard Madoff by putting his charges up on a blog, instead of taking them to the SEC and selected investors, there’s a good chance the Madoff scheme would have come tumbling down in short order — except, of course, for the not-unreasonable fear that Madoff might have sued. Tags: Bernard Madoff, fraud, libel slander and defamation Related posts Names in the news (0) Youtube ...

Could Blogging Have Stopped Madoff?
Financial Rounds — Here's a very interesting piece from the New York Stock Exchange's blog: ...Certainly, any failure to convince others was not due to lack of effort. Perhaps Mr. Markopolos lacked only an effective medium to communicate his warning. Here's a thought experiment: What would have happened if Mr. Markopolos had blogged his analysis? That is, what if he had posted the entire piece on a blog, under his name or a pseudonym? RTWT here I think the blogger has a point. True, blogging wasn't available back in the late 1990's. But if it were, my ...

Related: madoff investors, madoff/government
JPMorgan Exited Madoff-Linked Funds Last Fall
dealbook.blogs.nytimes.com 1/30/2009 — JPMorgan Chase says that its potential losses related to Bernard L. Madoff, the man accused of engineering an immense global Ponzi scheme, are "pretty close to zero." But what some angry European investors want to know is when the bank cut its ...
Madoff investors refunded $20m — FT Alphaville
A group of investors who put money with Bernard Madoff through a European “feeder” fund just before he was arrested for allegedly running a $50bn fraud scheme have been refunded more than $20m after agreement from the US bankruptcy trustee. HSBC, custodian of the Herald (Lux) fund run by Bank ...
For $10 Million Bail, Dreier to Get House Arrest — DealBook
Marc S. Dreier, a prominent Manhattan lawyer accused of stealing $380 million from hedge funds and investors, is getting the Bernard L. Madoff treatment. Like Mr. Madoff, who is accused of running a somewhat bigger fraud (a $50 billion Ponzi scheme), Mr. Dreier will be placed under 24-hour house ...
Madoff Client List Includes Rich and Famous — Business Pundit
The UK Guardian reports on the recently released Madoff client list, which includes quite a few rich and famous people: A list of the many thousands of people who invested with Bernard Madoff has been released, including several prominent British society figures and a number of well-known ...
SEC ‘illiteracy’ to blame for Madoff case — FT Alphaville
The losses linked to Bernard Madoff may be closer to $15bn-$25bn rather than the $50bn the New York broker allegedly told US investigators, according to Harry Markopolos, a former money manager and long-time Madoff critic. Markopolos, who tried for nine years to expose Madoff, told a ...
Live-Blogging the House's Madoff Hearing — DealBook
The Congressional inquiry into the Madoff scandal goes back to the House on Wednesday. This time, a star witness who was missing from the two previous Madoff hearings last month because of illness is finally expected to emerge. That witness is Harry Markopolos, an investment manager turned ...
Bernie Madoff Toilet Paper — Stockerblog - The Stock Market Blog
For the Madoff investor who has everything, or maybe nothing, you may want to consider the Bernard Madoff toilet paper , offered by justtoiletpaper.com. This is probably the only way of ripping off Madoff.
The Myth of the 'Sophisticated Investor' — DealBook
If nothing else, the incredible Ponzi scheme executed by Bernard L. Madoff shows that even these so-called sophisticated investors can be duped, with losses of hundreds of millions of dollars because of their faith in a trusted investor, writes Peter J. Henning, formerly of the White Collar ...
Santander's Madoff Payout Is Challenged, Report Says — DealBook
Investors who bought products sold by Banco Santander's Optimal unit, which invested in Bernard L. Madoff's alleged Ponzi scheme, have asked a judge in the United States to halt the bank's plan to compensate investors with new shares, El Mundo reported, citing a court writ. Investors had served ...
Hedge Fund Sues Auditors Over Madoff Reports — DealBook
Maxam Absolute Return Fund, a hedge fund, on Friday said it filed a lawsuit against auditors Goldstein Golub Kessler and McGladrey & Pullen to recover losses suffered by its investors in investments held by Bernard L. Madoff Investment Securities, Reuters reports. Maxam, an investment ...
Madoff and America's (Poorer) Foundations — DealBook
From Nicholas D. Kristof at On the Ground: Most of the discussion of the Bernard Madoff scandal has focused on the impoverished zillionaires who are now mere millionaires. Yet much of the money invested by Mr. Madoff was money destined for charities, and so the losers will include some good ...
JPMorgan Exited Madoff-Linked Funds Last Fall — IEHI Feed: The Hedge Fund Implode-o-Meter
... the bank suddenly began pulling its millions out of those funds in early autumn, months before Mr. Madoff was arrested, according to accounts from Europe and New York that were subsequently confirmed by the bank. The bank did not notify investors of its move, and several of them are furious ...
J.P. Morgan sold out of Madoff months before the collapse, more bailouts for the Auto sector? — Economic Discourse
This certainly has investigation written all over it. J.P. Morgan basically enticed investors by offering Madoff ''s returns, with leverage using complex derivatives. In order to hedge their own exposure, J.P. Morgan had to invest about $250 million with the Madoff linked fund. Later on, after ...
Bernard Madoff Paper Trail Leads to N.Y.C. Warehouse — DealBook
The paper trail in the Bernard L. Madoff fraud case has led investigators to a warehouse containing boxes and file cabinets stuffed with documents that could reveal more clues about what may be the largest Ponzi scheme ever, a government official told The Associated Press. The Queens building ...