tpmmuckraker.talkingpointsmemo.com - 12/21/2008
—
The revelation that Bernard Madoff -- who himself had in the past served as an adviser to the SEC on electronic trading -- was running an alleged "$50 billion ponzi scheme" has rocked the SEC to its core, according to a current long-serving member of the commission's enforcement division. "This ...
online.wsj.com - 12/18/2008
—
online.wsj.com —
Securities and Exchange Commission investigators discovered in 2006
that Bernard Madoff had misled the agency about how...
he managed customer money, according to documents, yet the SEC missed an opportunity to uncover an alleged Ponzi scheme. The ...
(more)
Madoff Misled SEC in '06, Got Off
sec.gov - 12/15/2008
—
sec.gov —
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No.
20828 / December 15, 2008 SEC v. National Lampoon,...
Inc., et al. , Civil Action No. 08-5790 (PBT) (E.D. Pa.) SEC v. Advatech Corporation, et al. , Civil Action No. 08-5788 (SD) (E.D. Pa.) ...
(more)
National Lampoon, Inc., et al.; Advatech Corporation, et ...
Comments
Blog Reactions
America's 'Faith' in SEC? Misguided.
Technically Speaking, Market Analysis and Theory —
TPM reports that the Madoff scandal has rocked the SEC. "The source said that one associate director in the enforcement division had in recent days ordered junior staff to review every case that's been closed over the last few years, to ensure that violations weren't missed -- as they appear to have been in the 2006 investigation of Madoff. "There's a real paranoia around here," the source added. That paranoia -- or at least extreme concern -- apparently extends to commission officials in Washington. The source said that since the Madoff allegations ...
SEC staff told not to destroy docs
NakedShorts —
... SECer: Agency “In A State Of Complete Panic” by Zachary Roth TPM Muckraker Dec. 21 2008
Morning Reading: States, Sports, SEC, etc.
Paul Kedrosky's Infectious Greed —
... central bank flight to safety (Setser) The trouble with normal is no-one knows what normal is anymore (Cassandra) Japan exports plunge 27% as exports collapse (Bloomberg) China Faces Unrest as Economy Falters (WSJ) 'The Russian Economy Is Turned Inside Out' (WSJ) The China Growth Fantasy (WSJ) SEC "In A State Of Complete Panic" Over Madoff Revelations (TPM Muckraker) Total insured losses worldwide of $50-billion in 2008, second-highest ...
Related Content
America's Fear of Competition
tbm.thebigmoney.com 1/24/2009 — Although everybody claims to love the market, nobody really likes the rough-and-tumble of competition that produces the essential "creative destruction" of capitalism. At bottom, this abhorrence of competition and change are the common theme that ...
SEC Skipped Normal Inspection of Madoff Hedge Fund
nakedcapitalism.com 12/14/2008 — So how did Madoff get away with his $50 billion fraud? Time will tell when and how it started, although I'd hazard the dot com bust. Madoff may have been unwilling to report losses, and assumed (initially) that no one would be hurt if he fibbed if ...
SEC looks to reassure investors
(Reuters)
news.yahoo.com 2/8/2009 — Reuters - Securities and Exchange Commission officials looked to reassure investors on Friday that they would reinvigorate the agency's policing of Wall Street, improve the quality of credit ratings and said they expect to bring more cases against ...
How the New SEC Enforcement Director Can Help Restore Investor Confidence
securitiesdocket.com 4/14/2009 — by Bruce Carton
Robert Khuzami began his new job as director of the Enforcement Division at the Securities and Exchange Commission on March 30. His arrival marks the first change in leadership for the Enforcement Division since 200
Khuzami joins the SEC from Deutsche Bank AG in New York, ...
Pondering Madoff as we enter 2009
ritholtz.com 12/23/2008 — Pondering Madoff as we enter 2009
by David Kotok
December 23, 2008
David R. Kotok co-founded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in Economics from The Wharton School of the ...
SEC Heal Thyself: Compliance Program Revamped
securitiesdocket.com 6/9/2009 — The Securities and Exchange Commission just hasn’t had enough bad news recently, so last month the media piled on even more: a probe of insider-trading allegedly going on inside the SEC.
Specifically, the agency’s inspector general has found evidence of “suspicious activity, appearances of ...
Madoff Victims’ ‘Tragedy’ Said to Have Escaped Scrutiny by SEC
bloomberg.com 12/14/2008 — Dec. 14 (Bloomberg) -- 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 ...
SEC Self-Funding: The Time Has Come
feedproxy.google.com 9/9/2009 — B. Carton
As I argued in this column last month, the Securities and Exchange Commission budget has been well below where it should be for several years. This shortfall has caused the SEC to suffer a 10 percent reduction in staff and a cut of more than 50 percent in its new technology ...
Madoff Love —
The Big Money 12/18/2008
Recommended reading: "SEC to investigate official who married Madoff niece."-- London Times .
Photo cred: ddaanet
Secretary of Saving the World —
The Big Money 12/22/2008
Confidential sources have passed on to me a January to-do list apparently penned by Timothy Geithner, the New York Fed chief tapped to serve as President-elect Barack Obama's treasury secretary:
1. Find new house in D.C. 2. Fix unholy mess ...
Follow WallStreetBlips on Twitter
