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Madoff's Red Flags

December 18, 2008 RSS Feed Print

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It's been all over the place today, but you've got to read the Harry Markopolos' letter.

He once worked for a Madoff rival, and called Madoff Securities "the world's largest Ponzi Scheme" in a letter to the SEC.

In 2005.

Link is here from the WSJ.

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Haha! Cramer as head of the SEC! Jon Stewart would be better.

Anonymous of NY 12:26PM March 17, 2009

Incompetent, yes
Inept, yes
Unqualified, maybe
Unaccountable, yes (who me?)
Unaware, absolutely
Get rid of these people , now.
Appoint Cramer as head of the SEC
Someone who knows their game and has the guts to go after them.

Chris of VA 11:23PM December 18, 2008

I did not personally have money with him, but if we don't protect these investors to the limit of SIPC, then what happens if another broker dealer like Schwab or Merrill fail? Will we protect them, but not Madoff investors? They got statements and confirms just like I do. Madoff is 100% SIPC backed - it says so on the SIPC website. Let's not give up on the system.

Investorguy of AK 7:27PM December 18, 2008

Madoff's Red Flags

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