Madoff Hearings - Live CSPAN (Markopolos cutting SEC a new one)

CSPAN ^ | CSPAN

[balls]

Markopolos discovered the Madoff fraud years ago, but regulators wouldn't listen. He was not compensated for his investigations, hd "did for the flag" and country. His testimony is marvelous.

Listen live: http://radiotime.com/WebTuner.aspx?StationId=20334&

[balls]

Markopolos is a very clear speaker and lays out the problem without any bells or whistles. A lot of emabrassment at these hearings!

[balls]

“he did it for the flag”

It’s on CSPAN-3

[Badeye]

Yes, and enough to go around to all parties in DC during that time frame, both Dem and Repub.

[penelopesire]

Is he pointing fingers where they belong...on Frank, Dodd and the democrats?

[balls]

That was the mortgage crisis, They were not directly involved in the Madoff scandal. This is a regulatory culture and turf battles.

Markopolos is telling all - no holds barred!

[Frantzie]

Markopolos is a real hero plus a smart guy. I wish I had a DVD copy of his testimony.

[lone star annie]

Most government agencies that are designed to “protect us” are worthless. Just like many big companies, they are too busy “managing” rather than doing what they are designed to do. Too many of our government agencies are politicized and too big.

[rightwingintelligentsia]

OK; I’ll ask—who is Markopolis?

[jalisco555]

For those of us who are cubically challenged could you update us periodically on what he’s saying? Thanks.

[penelopesire]

Madoff was not dealing with any of the mortgage papers involved in this crisis? I find that hard to believe.

When did Markopolos blow his first whistle(what year)? Does anyone know? Just turned it on..so have missed some of the hearing.

[jalisco555]

When did Markopolos blow his first whistle(what year)?

2000.

[penelopesire]

I bet the poor guy got teased alot in swimming pools as a child...lol

[jalisco555]

OK; I’ll ask—who is Markopolis?

He's a former investor and current investigator whose repeated, detailed warnings about Madoff were shrugged off by the SEC for almost a decade.

[penelopesire]

Thanks! Who was the SEC chair back then under Clinton?

[billhilly]

Well, it looks as if McCain had one right when he said Chris Cox should be fired.

[jalisco555]

Don’t remember that one. But there’s plenty of blame to go around for both Clinton and Bush’s oversight of the SEC.

[devane617]

find the vid of his opening comments — he will become a hero to you

[Attention Surplus Disorder]

Man, he cuts to the chase very concisely. Refreshing.

[penelopesire]

Perhaps...but let’s remember that Goldman Sacs, Lehman Brothers, and all of the brokers and banks involved in this mess were Obama’s biggest donors! The democrats started this mess with the Community Investment Act.

[penelopesire]

Here is a copy of his written testimony for those interested:

http://online.wsj.com/public/resources/documents/Luparellotestimony20090203.pdf