SEC Investigated (and fooled by) Madoff EIGHT Times

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	SEC Investigated (and fooled by) Madoff EIGHT Times

Reddgroom

1-5-2009 12:42 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/04fdc15c-73e6-479e-94ec-0e023b02e004/08A1AF5A-46CE-4D57-BDBF-BE5A8797011D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq" href="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq" style="font-size: 11px;">finance.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq"><P>As more details emerge of the SEC's failure to detect the Madoff fraud, much is becoming clearer.  One big question, however, remains.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq"><P>The SEC's last investigation was triggered by Harry Markopolos's assertion that Madoff was running a Ponzi scheme. The SEC said explicitly that it investigated to see if Madoff was running a Ponzi scheme. And, yet, it found nothing other than a few minor trading violations.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq">The key question, therefore, is how the SEC failed to detect the Ponzi scheme even when it went looking for it. Did it not look broadly or deeply enough?</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq">Was Madoff's fake documentation so good that it was nearly impossible to find proof?  </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq">Did the SEC not have people on staff who were expert enough in investment returns to understand how rare and unlikely Madoff's performance was?</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/tech-ticker/article/152910/SEC-Investigated-(And-Fooled-by)-Madoff-Eight-Times?tickers=%5Edji,%5Egspc,dia,spy,qqqq">These questions are important because they will determine whether the SEC failed because it was incompetent or because Madoff's ruse was nearly perfect.  We suspect the answer is a combination</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/08A1AF5A-46CE-4D57-BDBF-BE5A8797011D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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