Created to protect investors from financial predators, the [SEC] has somehow evolved into a mechanism for protecting financial predators with political clout from investors.
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Sunday, January 4, 2009
I can't tell if he thinks this is SHOCKING or not
"Michael Lewis, a contributing editor at Vanity Fair and the author of 'Liar’s Poker,' is writing a book about the collapse of Wall Street." He wrote in today's NYT:
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"In a 17-page memo from November 2005, three months after Cox became chairman, Markopolos laid out a list of 'red flags,' and claimed Madoff must either be trading ahead of client orders, a practice known as front-running, or, more likely, running the world’s largest Ponzi scheme."
Nothing to see here, move along...
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