Bernie Madoff ran his 50 billion dollar ponzi scheme without a sniff from SEC regulators. Madoff whistle blower, Harry Markopolos, testified to Congress this week about sounding the alarm to the SEC for years about Madoff's big scam and how he was willingly ignored. His quotes are eye popping.
"I gift wrapped and delivered the largest Ponzi scheme in history to them and somehow they couldn't be bothered to conduct a thorough and proper investigation.......If you flew the entire SEC staff to Boston, and sat them in Fenway Park, they wouldn't be able to find first base."
Madoff ripped off charities like ones for Holocaust victims and wiped out people's life fortunes. If there is a hell, Madoff will burn there for sure.
Picture HT: The E&P Pub