Here is the first television interview on 60 Minutes with the man who figured out what Bernie Madoff was up to before anyone else, Harry Markopolos.
The fact that he figured out in 2000 that Madoff was using a Ponzi scheme and tried to tell the SEC five times, with nothing done, is insane! How is that possible?? This guy says he figured it out in 5 minutes and was able to prove it in 4 hours through simple math...well, maybe not simple math.
If he's right that the SEC doesn't investigate fraud until after a crime is over, then maybe Obama should keep a close eye on his newly appointed head of the SEC, Mary Schapiro. She apparently hired Madoff's son to serve on the National Adjudicatory Council at FINRA. The council was designed to review disciplinary decisions made by FINRA. Hhhmmm...I wonder how he would have voted when his father's company, a company he was also a chief executive at, was brought up for review???
After reading in the New York Times today about how he is trying to keep $62 Million in assets that are supposedly his wife's, I am even more disgusted with Madoff and his family.
