Recall, Harry Markopolos "sparked the probe with his nearly decadelong campaign to persuade the SEC that Mr. Madoff’s returns were too good to be true." WSJ.
The Markopolos Testimony
Courtesy of Greg Newton at NakedShorts
Would-be Madoff whistleblower Harry Markopolos is up before the House Financial Services Committee tomorrow to explain that
As currently staffed, the SEC would
have trouble finding first base at
Fenway Park if seated in the Red Sox
dugout and given an afternoon. . .
have trouble finding first base at
Fenway Park if seated in the Red Sox
dugout and given an afternoon. . .
And that is one of the more flattering comments on both individuals and the institution. (Not that the assignment editors at The Wall Street Journal come out of this smelling like roses either.)
Also on parade: five senior US Securities and Exchange officials (pictured, above, prepping for the hearing) including Linda Chatman Thomsen, enforcement director, and Lori ‘Teflon’ Richards, director of the Office of Compliance Inspections and Examinations, who distinguished themselves at a Senate hearing last week. Dress code for the staff will be performance-appropriate clown suits and big red floppy-toed shoes. With paper bags over their vacant heads.
House Financial Services Committee
Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
(via The Wall Street Journal)
(via The Wall Street Journal)
Unsolicited comment: This is EXTREMELY boring. Please avoid unless in need of a nap.
Earlier on NakedShorts
