How could federal Security and Exchange Commission possibly allow Madoff to fool innocent investors for more than a decade? It shows how incompetent they are. There is no doubt in my mind that there has to be some involvement of Wall Street staffers in this whole thing. Especially when you consider that the fraud amounted to more than $50 billion you can’t help but feel that either the Commission guys were blind or they were in cahoots with Madoff, at least some of them. There is no other way that they didn’t know what Madoff was doing. Even by American standards $50 billion is a hell of a lot of money.

The Chairman of SEC Christopher Cox can keep on being ‘gravely concerned’ by the whole thing but the fact of the matter is that hundreds of investors have lost all their life’s savings and their is no way they are getting any of it back. And as always it is the investor like Thierry de la Villehuchet who is suffering the brunt of it whereas Madoff is coolly sitting in his multi million dollar apartment in Manhattan.

Tell you what, I thought something like this happened in Third World countries and not in a country like America. I was wrong. People are the same everywhere. It’s just a question of who gets an opportunity and who doesn’t. Isn’t it?

Related Post
No related posts

 If you like this post subscribe to my RSS feed. See how?

Register for Newsletter | Email this post | Download this post

Posted on December 24th, 2008 Track the world • Tags: fraud, investment, Madoff. • RSS 2.0 feed • Leave a response, or trackback