Bernie
Retrospective Bernie: Just Watching
Submitted by Jack Howard on Fri, 09/04/2009 - 21:21
The mirror described the Madoff investigation (actually, more accurately plural “investigations”): “objects may be closer than they appear.” So does the necessity of a stinging review by an inspector general of SEC oversight, and the Madoff train wreck, with its $65 billion in a Ponzi Leggoland, ask a fascinating story. Who watches the watchers?
When the SEC is charged with mis-watching, the federal government provides an opportunity of one the special inspector generals (IG) to give room for some self-appraisal. The findings of the SEC IG were terse: investigations were neither “competent” nor “thorough.”
The “flubbed” investigations began with an initial complaint in 1992. Investigators and reporters were amazed, and frustrated, by the seeming inability to raise superior eyebrows…or regulator interests. The insights into what went “wrong” are bound to exaggerate the roles of actors.
AGGRESSIVE CRIMINAL DEFENSE ATTORNEY. "If you are under investigation or have already been arrested, I can help!"
