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Joined: 2/21/2007
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Before anyone wastes their time reading the rest of this post, it really doesn't pertain to stock trading.
Caught some of the interview on the Today show with the author, can't remember his name, title of the book "No One Listened" ( that's close anyway). He was the man and his team who for 10 years researched Madoff. He went before the SEC 4 times and presented evidence that something was amiss. He stated that alot of the big hedge fund people knew something was not right. But they were making tons so they just stuck their heads in the sand and didn't ask any questions.
Billions , I forget how many, maybe 3 figures in the billions he said, were illegally made.
And the SEC buried it. Why aren't these guys sharing some cell time with Bernie?
I'm not sure if the book is out yet, but might make some good reading. After we've all finished reading the book, we can all meet at the next SEC meeting and give these guys a head start to hell.
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Registered User
Joined: 9/25/2007
Posts: 1,506
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Harry Markopolos I believe ...
Great story with video can be found on CNBC ...
Story entitled ... Whistleblower: Pursuit of Madoff Was a 'Death Sentence'
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Joined: 2/21/2007
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Yes, Reality,, Harry M. sounds right.
But I'm pretty sure the book was No One Would Listen
Maybe he wrote 2 books?
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Registered User
Joined: 2/21/2007
Posts: 797
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Yes, Reality,, Harry M. sounds right.
But I'm pretty sure the book was No One Would Listen
Maybe he wrote 2 books?
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Joined: 1/28/2005
Posts: 6,049
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" Why aren't these guys sharing some cell time with Bernie?"
===============================
Its a lot different to think "somethings up" then to know it.
Thanks
diceman
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Registered User
Joined: 2/21/2007
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Diceman: According to the interview, he said, proof was presented at each of the 4 meetings. Proof that the results, Madoff was making was impossible. And they chose to totally ignore the facts. So even if Markoplus's facts were wrong, they didn't even do anything to prove one way or the other. For 10 years, this stuff was infront of them.
I'd like to know how much money individual investors lost over that time period. Probably some lucky ones who cashed in at the right time, may have made a bunch, but alot more had to loose possibly everything.
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Joined: 9/25/2007
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QUOTE (johnlc) But I'm pretty sure the book was No One Would Listen
John ...
I wasn't referring to the title of the book ...
I was referring to the title of the article on cnbc ...
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Joined: 2/21/2007
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I'll check it out over at amazon. It might be good reading if it isn't filled with a bunch of calculations and figures that weigh down the subject.
Harry M. also said that he actually feared for his life because of the mobs involvement. Don't know whether that is fact or window dressing.
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Joined: 2/21/2007
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I ordered the book,
Let you know if it's worth reading.
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Joined: 2/21/2007
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Just finished reading the book!!!! Can't explain it any better than this/
"No One Would Listen" " is not the story of Bernie Madoff, but rather a tale of government incompetence so incredible that if it were a work of fiction, it would be dismissed as TOTALLY UNREALISTIC. If there is any good that is to come out of this incredible tale of governmental failure, it is that the magnitude and scope of regulatory incompetence was so extreme that it enhances the chances of true reform."
by Jack Schwager.
Those of you who think that our govt. agencies are doing good jobs and helping guide this country, this book is definitely not for you. You would have to take your head out ot the sand for once in your life. Those of you know that our govt. agencies suck, put your guns away before reading this book. Just in case you feel the need to go postal.
You won't able to quit reading, once you start.
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Joined: 4/23/2008
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thanks for the report john. I've read bits and pieces of that book and it is incredible.
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Joined: 2/21/2007
Posts: 797
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YOU WON'T BE DISAPPOINTED.
Easy reading, superbly written.
Harry Markopolos is a true American Hero.
He proved the idiots at the SEC cost people 50 billion $ and cost people their lives.
Not saying anything else, don't want to ruin it for anyone.
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Joined: 10/7/2004
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John, thanks. Think I'll pick up a copy.
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Joined: 9/25/2007
Posts: 1,506
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QUOTE (johnlc) government incompetence
Synonyms ?
I got a letter in the mail today ... from the US Census ... informing me that my census would be arriving in about a week ... and asking that I please fill it out ...
Does this somehow carry more weight ... than just attaching that letter to census package ?
In a larger sense ... would they send a census package to me if they didn't want it filled out ?
So ... the next time you get all optimistic about the future of this country ... remember ... these are the folks setting it's course ...
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Joined: 2/5/2006
Posts: 1,148
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they send me one and i'm multiplying all my answers x10.
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Joined: 2/21/2007
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Reality: When is that tidal wave going to hit DC? I think I'll check the farmers almanac.
Wasn't there something about sending or not sending people notifications about receiving their govt. bonus checks because it cost more to send the notifications than it did to send the checks. ????
Something really stupid like that.
Anyway I hope that i get the multilingual census form. Never know they may change our national language any time.
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Joined: 2/21/2007
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A question for all you mathematicians.
What is the difference between a male and female SEC employee in their math skills?
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Joined: 2/21/2007
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Madoff Story: Thursday 8 pm est. on ID channel.
285 on direct tv. Not sure which channel on cable.
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Joined: 2/21/2007
Posts: 797
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Well Bernie made sure he buried several billion for his family. He took one for the whole family, at least so far. None of his family, wife, sons, daughter, or son in law who all worked there knew nothing. SGT. SCHULTZ SYNDROME.
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