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Assessing the Madoff Ponzi Scheme and Regulatory Failures (Part 2 of 3)

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Assessing the Madoff Ponzi Scheme and Regulatory Failures (Part 2 of 3) - mars-3:hrs03F_S2128_090204.2 - Rayburn 2128 - Committee on Financial Services - 2009-02-04 - Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. Washington, DC - Congressman Paul E. Kanjorski (D-PA), the Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, today announced that the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will convene a hearing on Wednesday, February 4, 2009, to assess the alleged 0 billion investment fraud engineered by Mr. Bernard L. Madoff. Witness List: Panel One: Mr. Harry Markopolos, an independent financial fraud investigator for institutional investors and others seeking forensic accounting expertise, as well as a Chartered Financial Analyst and Certified Fraud Examiner. Panel Two: Ms. Linda Thomsen, Director, Division of Enforcement, U.S. Securities and Exchange Commission; Mr. Andrew J. Donohue, Director, Division of Investor Management, U.S. Securities and Exchange Commission; Mr. Erik Sirri, Director, Division of Trading and Markets, U.S. Securities and Exchange Commission; Mr. Andy Vollmer, Acting General Counsel, U.S. Securities and Exchange Commission; Ms. Lori A. Richards, Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission; Mr. Stephen Luparello, Interim Chief Executive Officer, Financial Industry Regulatory Authority. Video provided by U.S. House of Representatives.

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24 авг 2024

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Комментарии : 64

@RodinThink28 5 лет назад

Goddamn SEC just obfuscating with gobbledegook. Can't understand a thing they're saying

@neoncat9573 Год назад

It seems it's all for show. Do they think the people are stupid? What great performances, from the time the SEC would not listen to Mr Markopolos! What a shameful lack of concern or care for We the People. Now we know where we stand, if we ever had any doubt. The SEC -- dumb like a fox.

@britishairwaysfan6235 9 лет назад

I am not American but if I was Mr Ackerman would get my vote everytime.

@weebgrinder-AIArtistPro 3 года назад

👍👍

@joelkendrick965 3 года назад

Basic loudmouth.

@weebgrinder-AIArtistPro 3 года назад

@@joelkendrick965 blowhard lol

@everett79 2 года назад

"Um um, without speaking to specifics, um um um, I really can only say our mission, um um, is to follow up on leads, um um um, I can't really um um, um um um, answer that question specifcally, um um um um um....." Crooked f***s. The smirk on that woman's face is infuriating to look at.

@Taras_ocean 7 месяцев назад

At least she wasn’t as spineless and cowardly as those other men who are just waiting for the women on that panel to face the politicians and answer their tough questions. Typical men who just wait for mommy to solve their problems when things get tough.

@elik.webber7630 4 года назад

How many politicians where getting there palms greased by choosing to not reg. wall street .

@fozzydare7987 5 месяцев назад

Just the ones with Feeder Funds stashed in their accounts, pockets and other investments 🙃

@James_Bowie 2 года назад

"Without reference to the specifics." I'll have to remember that line myself when I don't want to answer something.

@fozzydare7987 5 месяцев назад

😂 Good one eh!?

@novaplum1617 5 лет назад

I can barely hear the audio in this video. This is a great video nonetheless, however, the audio is very low on my end. Anyways, thanks for the upload. This video highlights a prime example of government oversight simply failing to do its job.

@dhx7749 11 месяцев назад

I applaud Mr Ackerman trying to get a straight answer from these idiots. They have no shame. No wonder Madoff got away with this for so long.....

@keimo2007 10 лет назад

i love Ackerman!

@brocktonma.1816 2 года назад

The first woman that spoke should be carrying a sandwich board that says “I’m full of shit”

@brocktonma.1816 2 года назад

Put Harry in charge of the SEC.

@thewritinglefty4889 3 года назад

Just read "no one would listen". Im appalled.

@Seanpfree Год назад

Incompetence still rules the day all these years later

@fozzydare7987 5 месяцев назад

And sadly we’re the minions who sitting in the wings watching it play out ... a reality show circus!

@weebgrinder-AIArtistPro 3 года назад

The New York office of the SEC is just awful. Or at least was. I hope that's changed but doubt it. The Boston office was ready to go after Madoff from what Harry markopolis said. But New York didn't want to do anything.

@neoncat9573 Год назад

I can't believe my ears. The first two women are saying they do not think the members of the SEC have enough training or experience. Then why are any of them in those jobs??

@elik.webber1514 3 года назад

In the land of the free and the home of the brave ,Works in words, until you try to go up against the Land of the Greed and the home of the Corrupt.Shines a light on how Greed Fraud and corruption is still alive and well in the Good Ole U.S.A. Sad part is only a few people went to jail. the avg. citizen robbing your local 7/11 would have been sent to jail for 10 25 years no questions asked . but while collar crime is allowed and thrives on wall street and they can always count on the good citizens to bail them out even with out our consent or input . just give them a blank check and trust them to do the right thing. SAd we never learn about the crooks who run the country.Including our Politicians who push these banks and corp. agenda. through basically bribes for elections. a bribe is a bribe no matter how it looks on the outside telling the american people its all good for us we have these corrupt people running bus. in this country.

@elik.webber7630 7 лет назад

Trouble with any Gov. program ,no one wants to be held accountability for their fuck ups ,amazes me these people still have their jobs .You have to ask yourself WTF is going on .But Mr Markopolos Lays it all out ,what happened ,and the who what where ect. The other question is Gov. spent allot of our tax dollars for this S.E.C. bullshit ,i guess we got shitty service .

@Constanz92 4 года назад

Look at volmer try to weasel out of answering Ackerman. That WEASEL.

@antwortmir4451 5 лет назад

Do you understand what’s going on here? I do! If you’re sitting on a pile of shit and smell nothing, then [perhaps] you’ll like the stench.

@brucefranklin1317 2 года назад

Dirty rotten corruption out of the sec

@964964limkyung Месяц назад

I can't answer that, ummm ??? interesting how she remarks the word come out her mouth, umm again very interesting

@islesofshoals3551 Год назад

The woman that did most of the talking on the end (unfortunately the videographer cut the names off) would make a perfect teacher's union president

@Taras_ocean 7 месяцев назад

Her and the other woman on other end had to answer the hard-hitting questions. This was difficult and tough as they obviously know the shortcomings of the SEC, but the 4 coward men continue to be useless and spineless and letting the women do the heavy work on answering this. Shameless manchildren

@ayiorgos 7 лет назад

The quality of Democracy is directly proportional to the quality of the judges. In the Democracy of the Greeks corruption of public servants and the officials of the Republic was punishable by death . The Greeks punished corrupt officials without a second thought for the knowledge and compliance for others. We do not say that a man who takes no interest in politics is a man who minds his own business; we say that he has no business here at all. ⦁ Pericles commenting the participation of Athenian citizens in politics en.wikiquote.org/wiki/Pericles

@stephemmurphy2554 3 года назад

Difficult to hear.

@SarahC-er9wx Год назад

My god. This woman is so crooked how is she still standing straight??

@TheAtl0001 4 года назад

Trying to SILENCE what happened?

@weebgrinder-AIArtistPro 3 года назад

Lol. It's just the audio levels not being high enough. Just turn it up.

@MelodicMotives 7 лет назад

now thats how a video is done :D awesome btw?

@ronnywestbrooks3794 2 года назад

Can't hear the damn thing

@moimeself1088 Год назад

Not sure if this is still of use to you, but sometimes I have to close the vid and start over when I have issues with sound. Hope that helps.

@jordanm1186 5 лет назад

Some people need to relax. They dropped the ball and lost their jobs for it, appropriate enough.

@iamravyn6878 4 года назад

People lost their homes and stuff because they dropped the ball. The lack of punishment they received was not enough.

@eileenthompson8825 2 года назад

They were handed the case by a CITIZEN and did NOTHING got 8 years and would have been longer but the crash happened, Madoff confessed to his family and his sons turned him in that night!!!! The SCC did NOTHING!!!! As a tax payer I take a huge offense to these FACTS! Feel so sorry for those that lost everything.

@Pammyspoint 2 года назад

No. Appropriate would have been these losers doing their jobs. With all due respect, if you had been one of the victims who lost everything because the incompetent SEC ignored numerous complaints, you would NOT be saying, “relax”.