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To: La Enchiladita
d SEC heads should roll, especially the derelict supervisors.

I understand ONE person has resigned. wow /s

9 posted on 04/28/2010 1:53:20 PM PDT by Vinnie (You're Nobody 'Til Somebody Jihads You)
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To: Vinnie; All
Here is what I just found: None of the SEC employees who surfed the Web for porn at work will be fired (NY Daily News)
10 posted on 04/28/2010 2:00:53 PM PDT by La Enchiladita
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To: All
HERE'S THE BIG ONE THE SEC MISSED "No One Would Listen: A True Financial Thriller" by Harry Markopolos details the author's 8-year long attempt to interest the SEC and any other govt authority in Madoff's Ponzi scheme Markopolos uncovered in 2000. It's a disgrace that SEC agents were being paid hundreds of thousands of tax dollars, on their way to million dollar positions on Wall Street....and are still in the industry.

Keep in mind----these financial geniuses are all "licensed." Financial licenses can be lifted for any number of reasons:

If licensees fail to disclose ownership in investment vehicles.

If licensees fail to file proper documentation with state agencies.

If licensees fail to file reports with State Division of The Treasury.

If licensees fail to file state and federal tax returns (stolen money is taxable).

If licensees fail to pay state and federal taxes on hidden profits.

If licensees fail to account for investment proceeds.

HERE'S HOW JUDGES PREDICATE SENTENCING GUIDELINES:

(1) Amount licensee lost to the Treasury, a pension fund, the taxpayers, state pensioners, etc. (2) What role a licensee had in conspiracy schemes to defraud. (3) Whether a licensee obstructed justice in the course of investigations or, later, during trial.

CONTACT Financial Industry Regulatory Authority (nongovernment regulator of US securities firms)

CALL (866) 776-0800

=======================================

Probably some of the SEC'ers were laying off, looking to get positions w/ Madoff. When you realize the scope of Madoff’s fraud, there is no other conclusion one could draw. Even an imbecile could have determined that Madoff was not making trades......merely sending out falsified statements on outdated computer equipment.

The court appointed trustee looking into Madoff's assets unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth...... with assets and businesses in 11 places overseas. Madoff traveled overseas frequently, to his villa on the Riviera----those suitcases he carried were probably full of cash .....not leisure wear.

Madoff was running several simultaneous scams:

(1) a Ponzi fraud that made him personally wealthy;

(2) laundering tax-free money for wealthy businessmen posing as philanthropists,

(3) IRS fraud facilitation for wealthy businessmen;

(4) a protection racket (shielding his investors from scrutiny);

(5) laundering tax-free money that was donated to Democrat candidates (campaign fraud).

11 posted on 04/28/2010 2:04:43 PM PDT by Liz (If teens can procreate in a Volkswagen, why does a spotted owl need 2000 acres? JD Hayworth)
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