While the SEC slept Madoff made a mint

Tuesday, December 16, 2008

Where was the Securities and Exchange Commission—the federal agency responsible for regulating Wall Street—when Bernard Madoff was allegedly pulling off a massive fraud that could leave investors with billions of dollars in losses? Experts say there were plenty of red flags that should have tipped off regulators that something was seriously amiss. Stephen Labaton, who covers regulatory issues for the New York Times, joins The Takeaway with the story.

Want more from Stephen Labaton? Read his article, "S.E.C. Image Suffers in a String of Setbacks," at the New York Times.
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Guests:

Stephen Labaton

Contributors:

Nadia Zonis

Comments [1]

sabor

unbelieveable. At the highest levels of society, greed rules. It's the usual situation - all these high wealth folk who were getting high returns every year never questioned them, because, truth be told, they feel they deserve better than everyone else. Don't look a gift horse in the mouth rules this economy, at least the one that just crashed.
When responsibility for this behavior is attached to the investors with Madoff, the boards of the auto companies and the banks, and the American people, we will get to a whole new level of success. These guys must stop just mortgaging our futures - every time!

Dec. 16 2008 09:02 AM
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