SEC: We Blew It on Bernie

Commission had multiple opportunities to bust Madoff

Thursday, September 03, 2009

S.E.C. Inspector General David Kotz released a report stating that the agency had missed numerous opportunities to bust Bernie Madoff and his 16-year Ponzi scheme. Madoff's scam cost investors billions of dollars, shuffling money away from retirement funds, charitable donations, and trusts. Madoff is currently serving a 150-year sentence for his crimes, but what can the S.E.C. do to redeem themselves? We talk to David Scheer, S.E.C. reporter for Bloomberg News.


David Scheer


David J Fazekas

Comments [1]

MK Ultra

Man, it must be nice to have one of these pencil-pushing jobs where you don't have to be accountable for anything, you don't have to do your job and, most importantly, no matter what you do, no matter how wrong, how much your mistakes cost and how many people they affect, you always get a promostion! This is the next best thing to being an AIG exec!

Sep. 03 2009 08:17 AM

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