Eric Holder where are you? This is truly madness. I’m reading the Washington Post on July 2. It reveals a female SEC lawyer investigator was questioning the Madoff madness in 2004. She highly suspected fraud and wanted answers from Madoff and documents produced. So what happens…nothing! One of her supervisors, according to the Washington Post, has since married Madoff’s niece. The lawyer was reassigned to work on another matter. The Madoff matter was closed with no further action. The lawyer involved ultimately left the SEC in 2006 after filing a hostile work environment claim. Sounds like a made for TV movie but it’s real.
You have to wonder who’s minding our money matters. This whole Madoff incident has not been fully investigated. I wonder if it ever will be. The who knew what when and why should be explored to the fullest.
The victims should be screaming for a full and complete investigation. The buck should not just stop with Madoff. I know if I had lost all of my life’s savings, I would truly want every Tom, Dick, Harry and Jane involved to be investigated and brought to justice. I’ve already discussed in an earlier blog that everyone actively involved in the Madoff scheme with knowledge of the wrongdoing should get their day in Court. It’s incredulous for us to think that only Madoff was involved. This was not a petty crime but a highly sophisticated and elaborate scheme.
Eric Holder, our Attorney General, should be fully looking into the troubling SEC situation and Madoff. The SEC has not done a good job of scrutinizing itself. With all the emphasis being placed on our money matters by the Obama administration, investigating the SEC and the Madoff scam and other Ponzi schemes should be of concern. If there’s any weak links at the SEC, an independant investigation will reveal them. We need to know who’s minding our money. We can’t put all our trust in the SEC for now.