Wednesday, March 9, 2011

Madoff Revisited; Are you kidding me, David Becker, SEC'S General Counsel, had a "financial interest" in Madoff Accounts" while he investigated Madoff

Let me see if I understand this. First the S.E.C. fails to uncover the" Madoff Ponzi Scheme " despite having clues sitting there right under their collective noses. That's lame!
Then two years ago the S.E.C. Chairwoman hires David Becker as General Counsel, who allegedly after advising the S.E.C.'S " ethics officer " that he and his siblings had about a $2 million potential interest in a Madoff account, is allowed to lead The Madoff Investigation and make substantive decisions and recommendations regarding Madoff victims.(Including decisions which would positively impact himself re "Clawbacks").
You talk about "the fox watching the henhouse"! This is mindboggling...Well the saga just continues.
What will be the fate of Becker and Chairwoman Mary Schapiro after Congress is done grilling them ? We can only wait and watch.

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