from SLATE: >The [Washington POST reports] word that a Securities and Exchange Commission >investigator realized that there was something fishy going on with Bernard >Madoff's firm in 2004. But she wasn't able to pursue her suspicions because >she had to turn her attention to the mutual fund industry, a particularly hot >topic at the time. One of her supervisors was Eric Swanson, who married >Madoff's niece in 2007. Over 20 years, the SEC investigated Madoff at least >five times, but it seems Genevievette Walker-Lightfoot actually came close to >unraveling the whole mess. Or, at the very least, she was asking the right >questions. She had previously worked at the American Stock Exchange, and >specialized trading strategies were her forte. While reviewing Madoff's >documents, Walker-Lightfoot saw they were filled with inconsistencies and >didn't seem to follow the financier's stated trading strategy. When the SEC's >New York office took over the case, it never consulted Walker-Lightfoot and >ended up finding only three minor violations.<
It seems that even by capitalist standards, they shouldn't allow anyone associated with the finance sector (even by marriage) to be in charge at the SEC. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
