Brown: SEC, learn from Madoff
While Bernie Madoff will never walk the streets again, there’s still a lot of explaining to do, not just by Madoff and his family, but at the Securities and Exchange Commission, whose bungling of the investigation likely cost Madoff’s victims even more money.
Just Wednesday, new SEC Chairman Mary Schapiro told a congressional panel that rewards might be a good way to help bring in leads, the details of which are often ready to go thanks to whistle-blowers. Gee, you think?
The SEC wouldn’t have had to shell out a dime when Harry Markopolos tried to deliver the Madoff corruption probe on a silver platter starting four years ago. Look at what he told CBS’ “60 Minutes” recently as he detailed his repeated attempts to get the SEC’s attention.
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