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Don't Ask, Don't Tell [Madoff Scandal]
Barron's ^ | MONDAY, MAY 7, 2001 | Erin E. Arvedlund

Posted on 12/26/2008 7:31:23 PM PST by Enchante

Two years ago, at a hedge-fund conference in New York, attendees were asked to name some of their favorite and most-respected hedge-fund managers. Neither George Soros nor Julian Robertson merited a single mention. But one manager received lavish praise: Bernard Madoff.

Folks on Wall Street know Bernie Madoff well. His brokerage firm, Madoff Securities, helped kick-start the Nasdaq Stock Market in the early 1970s and is now one of the top three market makers in Nasdaq stocks. Madoff Securities is also the third-largest firm matching buyers and sellers of New York Stock Exchange-listed securities. Charles Schwab, Fidelity Investments and a ...

(Excerpt) Read more at online.barrons.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: democrats; finance; liberals; madoff; mentaldisorder; ponzi; scam; sec; socialists; stocks; stockscam; wallstreet
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Amazing -- this Barron's reporter had Madoff nailed in May 2001 yet nothing happened!! SEC asleep at the wheel or actively protecting Madoff????
1 posted on 12/26/2008 7:31:23 PM PST by Enchante
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To: All

Full article is for subscribers only — can anyone here read it and let us know if it’s good?


2 posted on 12/26/2008 7:32:03 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: Enchante

So did this guy....devastating analysis, ignored...why?
http://s3.amazonaws.com/iehi-img-mli/files/Madoff_SECdocs_20081217.pdf


3 posted on 12/26/2008 7:34:04 PM PST by spyone (ridiculum)
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To: Enchante
SEC asleep at the wheel or actively protecting Madoff????

I think history will record the party in power was asleep at the wheel. But then maybe not, asleep that is, after all newt slipped the cdo legalization in a bill in the middle of the night without one hearing.

4 posted on 12/26/2008 7:35:20 PM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
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To: Enchante

I heard Erin on the radio talking about her article. Nobody wanted to hear it.


5 posted on 12/26/2008 7:36:00 PM PST by Travis McGee (--www.EnemiesForeignAndDomestic.com--)
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To: Enchante
Bernie Madoff... Just doing the job real crooks woon/t do...
6 posted on 12/26/2008 7:37:29 PM PST by tubebender (Retirement...The art and science of Killing time before it Kills you...)
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To: Travis McGee

Do you mean that you heard her recently, or that you heard her in 2001?


7 posted on 12/26/2008 7:38:24 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: Enchante
Recently, as in the past week. She quit journalism and went to work for one of the financial firms after the big article, then was recently laid off and is looking at financial journalism again. Sharp as a tack. Can't remember if I heard her on Bloomberg, NPR or where, but I'm sure she's making the rounds now, what with the seeming prescience of her old Madoff article.
8 posted on 12/26/2008 7:48:09 PM PST by Travis McGee (--www.EnemiesForeignAndDomestic.com--)
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To: Travis McGee

This is a good one:

http://www.freerepublic.com/focus/f-news/2154665/posts


9 posted on 12/26/2008 8:29:13 PM PST by FoxPro (The SEC knew about Madoff, and did nothing.)
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To: Travis McGee; All

She did write quite a remarkable article in 2001, pulling together some of the main grounds for skepticism about Madoff.

It does seem incredible that neither she nor Barron’s followed up on what was the financial story of the decade, and that no one else in the financial press followed up..... one problem is that the details are incredible arcane, and there’s no “smoking gun” when you can’t view Madoff’s records and the scheme has not yet collapsed.

Still, given that she was so hot on the trail in 2001 it does seem bewildering that there was just that one article and then..... silence.

The 2005 confidential complaint to the SEC, by the guy in Mass. who had first complained to the SEC in 1999, was of course vastly more detailed and provided everything the SEC needed to see that they needed to investigate seriously.... but still nothing happened, until the scheme finally collapsed in the turmoil of late 2008.

What a bizarre saga....


10 posted on 12/26/2008 8:39:33 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: Enchante

Read it here:

http://online.barrons.com/article/SB989019667829349012.html


11 posted on 12/26/2008 8:46:33 PM PST by USFRIENDINVICTORIA
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To: Enchante

mark


12 posted on 12/26/2008 9:46:18 PM PST by nkycincinnatikid
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To: spyone

Just damn!

I read the whole document, and the 25% that I understood scare the sh*t out of me.

I’m glad I stayed invested in pork bellies.


13 posted on 12/26/2008 9:55:50 PM PST by occamrzr06
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To: occamrzr06

Me too. This is not a whiny, shotgun complaint. It is totally credible. It is the smoking gun that was ignored. The SEC is a joke at best.


14 posted on 12/26/2008 10:04:35 PM PST by spyone (ridiculum)
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To: Enchante

I thought hedge funds are unregulated financial tools for the fabulously wealthy?


15 posted on 12/26/2008 10:44:53 PM PST by Chgogal (Voting "Present" 130 times might be a sign of a smart politician. It is not a sign of a good leader.)
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To: occamrzr06; All
I’m glad I stayed invested in pork bellies.

LOL. Pork bellies? Madoff's Ponzi scam?? Oh, come now! You little people just don't understand investing the way I do..... I just follow the renowned "Hillary Clinton Cattle Futures Trading Strategy" and I net $100,000 for every $1,000 I invest!!

You cannot imagine how fast my fortune is piling up with this brilliant scheme....

Hillary's cattle futures - how to "invest" $1,000 and walk away with $100,000..... in only 10 months!

"Hillary Rodham Clinton was allowed to order 10 cattle futures contracts, normally a $12,000 investment, in her first commodity trade in 1978 although she had only $1,000 in her account at the time, according to trade records the White House released yesterday."

The computerized records of her trades, which the White House obtained from the Chicago Mercantile Exchange, show for the first time how she was able to turn her initial investment into $6,300 overnight. In about 10 months of trading, she made nearly $100,000, relying heavily on advice from her friend James B. Blair, an experienced futures trader."

16 posted on 12/26/2008 10:50:18 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: Enchante

I never said I was bright!

Sheesh, I have a conscience ya know.

For the most part, I like the guy I look at in the mirror. And the weird funny thing is, I am not liberal or narcissistic.

I have done a lot of things I am not to proud of. I’ve never bilked anyone out of Billions of Dollars.

I know that is a huge delta, but I think I’m a pretty honest guy.

(The Pork Bellies thing was from Trading Spaces)


17 posted on 12/26/2008 10:56:15 PM PST by occamrzr06
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To: Enchante
In about 10 months of trading, she made nearly $100,000, relying heavily on advice from her friend James B. Blair, an experienced futures trader.

Everyone is aware yet no one seems to care, BTW that exchange is Chicago. Criminals all.

Stupid liberals that lurk here need to understand they are being taken for a ride.

18 posted on 12/26/2008 11:00:32 PM PST by eyedigress (All I want for Christmas is a nice blue barrel rifle.)
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To: occamrzr06

LOL..... yes, I remember pork bellies and “Trading Places”... one of the all-time great comedies!

I do wish I had the kind of mentor in cattle futures trading that Hillary enjoyed..... I’m sure I’d have my fortune by now if my funds could increase by that 100:1 rate every 10 months!!!


19 posted on 12/26/2008 11:05:48 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: Enchante

I think the result of that is killing someone....see something else I don’t think I could do.

Oh, I spent 26 years in the Army, and I think I could kill someone if I had to, but no in a Park in DC for those reason.

I’m getting me the G.I Joe with the Kung Fu grip (another shameless ‘Trading Places” plug...I had nothing to do with that movie).


20 posted on 12/26/2008 11:10:37 PM PST by occamrzr06
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