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	<title>Comments on: SEC Ignored Detailed 2005 Complaint re: Madoff</title>
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	<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
	<lastBuildDate>Tue, 14 Feb 2012 23:28:32 +0000</lastBuildDate>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135143</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Mon, 22 Dec 2008 13:23:20 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135143</guid>
		<description>psss edit -
scratch Priceless ... replace with ... a drop in the bucket</description>
		<content:encoded><![CDATA[<p>psss edit -<br />
scratch Priceless &#8230; replace with &#8230; a drop in the bucket</p>
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		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135139</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Mon, 22 Dec 2008 12:55:21 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135139</guid>
		<description>pss - on the other hand ... losing $50 billion into a black hole in this derivative atmosphere ... Priceless</description>
		<content:encoded><![CDATA[<p>pss &#8211; on the other hand &#8230; losing $50 billion into a black hole in this derivative atmosphere &#8230; Priceless</p>
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	<item>
		<title>By: Greg0658</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135135</link>
		<dc:creator>Greg0658</dc:creator>
		<pubDate>Mon, 22 Dec 2008 12:41:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135135</guid>
		<description>I&#039;ve been toying with doing some figures for this post
but it&#039;s not my job ... and not my problem ... well  (thats a deep subject .. sometimes wet -sometimes dry)

since folks are looking for restitution possibilities - folks will look and maybe find

$50 billion is a lotta mulla for an old man and 2 sons to spend (or hide)
even with zero interest on them deposits and dividend payouts to depositors
thats war funding if ya ask me

c2008 &quot;Bernie Madoff&#039;s War&quot; at selected theatres near you July 4th 2009

ps - TARPed before knowledge ... better not</description>
		<content:encoded><![CDATA[<p>I&#8217;ve been toying with doing some figures for this post<br />
but it&#8217;s not my job &#8230; and not my problem &#8230; well  (thats a deep subject .. sometimes wet -sometimes dry)</p>
<p>since folks are looking for restitution possibilities &#8211; folks will look and maybe find</p>
<p>$50 billion is a lotta mulla for an old man and 2 sons to spend (or hide)<br />
even with zero interest on them deposits and dividend payouts to depositors<br />
thats war funding if ya ask me</p>
<p>c2008 &#8220;Bernie Madoff&#8217;s War&#8221; at selected theatres near you July 4th 2009</p>
<p>ps &#8211; TARPed before knowledge &#8230; better not</p>
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		<title>By: gloppie</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135115</link>
		<dc:creator>gloppie</dc:creator>
		<pubDate>Mon, 22 Dec 2008 04:55:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135115</guid>
		<description>Let&#039;s face it, it is really about the haves and the have nots. I don&#039;t give a flick about SEC knowing it, or not, or Obama being sincere, or not, or Bush being an idiot, or a moron....

All of them eat with real silver-ware. We use the plastic sporks that came with our 3.99 salad.

Politicians, Presidents, CEOs, CFOs, Magistrates, Movie stars, Business leaders, Bishops, Counts and cunts. All the same to me. Rich, cunning, and selfish bastards that they are.

The first will be last, and vice versa. 
I&#039;m proud NOT to have all I ever thought I needed or wanted.</description>
		<content:encoded><![CDATA[<p>Let&#8217;s face it, it is really about the haves and the have nots. I don&#8217;t give a flick about SEC knowing it, or not, or Obama being sincere, or not, or Bush being an idiot, or a moron&#8230;.</p>
<p>All of them eat with real silver-ware. We use the plastic sporks that came with our 3.99 salad.</p>
<p>Politicians, Presidents, CEOs, CFOs, Magistrates, Movie stars, Business leaders, Bishops, Counts and cunts. All the same to me. Rich, cunning, and selfish bastards that they are.</p>
<p>The first will be last, and vice versa.<br />
I&#8217;m proud NOT to have all I ever thought I needed or wanted.</p>
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		<title>By: zealousone</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135048</link>
		<dc:creator>zealousone</dc:creator>
		<pubDate>Sun, 21 Dec 2008 18:52:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135048</guid>
		<description>Let&#039;s get some reality folks.     Attempt to imagine the reaction within the SEC upon receiving a report claiming that  Bernie Madoff, who was revered and respected in the Jewish community and Wall Street, was alleged to be this Ponzi  master.  Does anyone believe that it would gain any traction whatsoever other than seat squirming and sweating in the halls of the SEC?     They were put in a postion of damned if they did and damned if they didn&#039;t.    

Once word of this potential investigation leaked out ( and it most certainly  did) every powerful ally of Madoff  in Congress (i.e.  possibly Schumer, Lautenberg and Israeli lobbyists)  would work behind the scenes to scuttle it.   Even the hint of an investigation would lead to serious embarrassment and  loss to Jewish Charities and loss of credibility.  

I&#039;d wager big time that the powers in the SEC were told to cover this up.    It is only because the market has collapsed was this Ponzi fraud uncovered.  

The SEC does not now and never has had a free hand on regulation within its mandate.    As an example even Arthur Levitt,  who as SEC Chairman in the 90s attempted to revamp the audit/consult role of accounting firms.  He had to buckle under pressure from the Senate Banking members  and that led to Enron.      

There are powerful people who will work to cover this up to protect themselves.</description>
		<content:encoded><![CDATA[<p>Let&#8217;s get some reality folks.     Attempt to imagine the reaction within the SEC upon receiving a report claiming that  Bernie Madoff, who was revered and respected in the Jewish community and Wall Street, was alleged to be this Ponzi  master.  Does anyone believe that it would gain any traction whatsoever other than seat squirming and sweating in the halls of the SEC?     They were put in a postion of damned if they did and damned if they didn&#8217;t.    </p>
<p>Once word of this potential investigation leaked out ( and it most certainly  did) every powerful ally of Madoff  in Congress (i.e.  possibly Schumer, Lautenberg and Israeli lobbyists)  would work behind the scenes to scuttle it.   Even the hint of an investigation would lead to serious embarrassment and  loss to Jewish Charities and loss of credibility.  </p>
<p>I&#8217;d wager big time that the powers in the SEC were told to cover this up.    It is only because the market has collapsed was this Ponzi fraud uncovered.  </p>
<p>The SEC does not now and never has had a free hand on regulation within its mandate.    As an example even Arthur Levitt,  who as SEC Chairman in the 90s attempted to revamp the audit/consult role of accounting firms.  He had to buckle under pressure from the Senate Banking members  and that led to Enron.      </p>
<p>There are powerful people who will work to cover this up to protect themselves.</p>
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		<title>By: grumpyoldvet</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135018</link>
		<dc:creator>grumpyoldvet</dc:creator>
		<pubDate>Sun, 21 Dec 2008 15:51:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135018</guid>
		<description>Curious...I worked in the finance industry for over 25 years and I gotta clue ya in. If that&#039;s your attitude you will have a hard time succeeding. Money is the only thing that drives the industry. Altruism only works when and if you are lucky enough to be an independent advisor....and even then you must constantly strive to replenish clients who leave you for anyone of a myriad of reason...some logical and most illogical. But Good Luck..................</description>
		<content:encoded><![CDATA[<p>Curious&#8230;I worked in the finance industry for over 25 years and I gotta clue ya in. If that&#8217;s your attitude you will have a hard time succeeding. Money is the only thing that drives the industry. Altruism only works when and if you are lucky enough to be an independent advisor&#8230;.and even then you must constantly strive to replenish clients who leave you for anyone of a myriad of reason&#8230;some logical and most illogical. But Good Luck&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;</p>
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		<title>By: CuriousCreature</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135007</link>
		<dc:creator>CuriousCreature</dc:creator>
		<pubDate>Sun, 21 Dec 2008 14:49:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135007</guid>
		<description>I&#039;m applying for my securities license and hope to work in the industry after I pass my exams.  The paperwork and background checks are extensive.  While I&#039;m passing with ease my new boss is uncomfortable with my comments about not being as money motivated as the rest of the team.

Until the excessive wealth generation is taken out of the system you will continue to see extremes like this one.  Not only does the system support it.  It looks the other way when it happens.</description>
		<content:encoded><![CDATA[<p>I&#8217;m applying for my securities license and hope to work in the industry after I pass my exams.  The paperwork and background checks are extensive.  While I&#8217;m passing with ease my new boss is uncomfortable with my comments about not being as money motivated as the rest of the team.</p>
<p>Until the excessive wealth generation is taken out of the system you will continue to see extremes like this one.  Not only does the system support it.  It looks the other way when it happens.</p>
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		<title>By: Steve Barry</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-135005</link>
		<dc:creator>Steve Barry</dc:creator>
		<pubDate>Sun, 21 Dec 2008 14:20:16 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-135005</guid>
		<description>Here is my major prediction for what is next…January and February will be “Hedge Fund Smoldering Crater Time”…you will see BREAKING NEWS updates every day on CNBC with another heedge fund blowing up and major name investors losing a lot of money.</description>
		<content:encoded><![CDATA[<p>Here is my major prediction for what is next…January and February will be “Hedge Fund Smoldering Crater Time”…you will see BREAKING NEWS updates every day on CNBC with another heedge fund blowing up and major name investors losing a lot of money.</p>
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		<title>By: vdhinaka</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-2/#comment-134998</link>
		<dc:creator>vdhinaka</dc:creator>
		<pubDate>Sun, 21 Dec 2008 08:18:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-134998</guid>
		<description>USA must be in the top of the CPI  list 
http://www.transparency.org/news_room/in_focus/2008/cpi2008/cpi_2008_table</description>
		<content:encoded><![CDATA[<p>USA must be in the top of the CPI  list<br />
<a href="http://www.transparency.org/news_room/in_focus/2008/cpi2008/cpi_2008_table" rel="nofollow">http://www.transparency.org/news_room/in_focus/2008/cpi2008/cpi_2008_table</a></p>
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		<title>By: ben22</title>
		<link>http://www.ritholtz.com/blog/2008/12/detailed-and-ignored-sec-madoff-complaint/comment-page-1/#comment-134997</link>
		<dc:creator>ben22</dc:creator>
		<pubDate>Sun, 21 Dec 2008 06:11:20 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13311#comment-134997</guid>
		<description>all i can say is im pissed, seriously.</description>
		<content:encoded><![CDATA[<p>all i can say is im pissed, seriously.</p>
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