Sunday, Oct 04th

Last update07:37:42 PM GMT

You are here News Domestic (USA) Michael Hirsh: Madoff Report Indicts Entire Regulatory System

Michael Hirsh: Madoff Report Indicts Entire Regulatory System

E-mail Print PDF

The scariest thing about the report, perhaps, is that it isn't about what happened in the past as much as it's an indicator of what our future looks like. The Madoff Ponzi scheme was a relatively simple scam: all anyone in enforcement ever had to do over the years was to obtain documents showing that wily old Bernie wasn't doing any trading at all. They never did. This is the same agency, slightly tweaked, that we're going to depend on to root out fraud in the mind-bogglingly complex world of over-the-counter derivatives that is even now resuming its old habits.


Most Recent Related Stories...

Life-Threatening Floods Worsen in South Carolina

South Carolia floodingA dangerous rainstorm drenching the East Coast brought more misery Sunday to South Carolina — cutting...

FBI Destroyed Records Detailing Alleged Medicaid Fraud by Orthodox Jews

Kiryat JoelThe FBI destroyed records indicating potential Medicaid fraud among haredi Orthodox Jews in upstate New York’s...

Alabama judges use segregation-era law to avoid gay marriage

Nick WilliamsAs Alabama's all-white Legislature tried to preserve racial segregation and worried about the possibility of mixed-race...

Reports: Arne Duncan stepping down as Obama’s Education secretary

Arne Duncan to step downEducation Secretary Arne Duncan, one of the longest-serving members of President Barack Obama’s Cabinet, will step...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!