Iedereen die aan de luchthandel heeft meegedaan doet nu of zijn neus bloedt, dolblij als ze zijn dat Bernard Madoff alle schuld krijgt. Maar die deed niets wezelijk anders dan zijzelf ook hadden gedaan. En allemaal wisten ze dat ook.Congress Demands SEC Speed Madoff Inquiry to Improve Oversight
Monday 05 January 2009
by: Jesse Westbrook and David Scheer, Bloomberg
U.S. lawmakers, critical of the Securities and Exchange Commission's failure to uncover Bernard Madoff's alleged $50 billion fraud, demanded the agency speed up an internal investigation of its missteps to help in their overhaul of market regulations.
The SEC must report what happened, "so we can do our jobs and make sure the laws and authorities are in place to see that this never happens again," said Paul Kanjorski, chairman the House subcommittee overseeing capital markets, at a hearing in Washington today. "Our regulatory system has failed miserably and we must rebuild it."
SEC Inspector General H. David Kotz said his staff will issue reports on a "rolling basis" within months as it examines how inspections and probes involving Madoff since 1992 overlooked what may be the biggest Ponzi scheme in history. Madoff, 70, was charged Dec. 11 with securities fraud after allegedly telling his sons his business was "one big lie."
The hearing is the first in a series of congressional forums this year to close regulatory "loopholes" and consider whether market watchdogs need additional authority or funding, Kanjorski said. Lawmakers including Ron Paul, a Texas Republican and unsuccessful presidential candidate in 2008, said the SEC's oversight of Madoff shows it should be scaled back or eliminated. At times, frustrations flared.
"Who is responsible for protecting the securities investor, because I want to tell that person that they suck at it," said Representative Gary Ackerman, a New York Democrat. "This is a spike in the heart of the investment community that makes America run."
Senate Demand'
Monday 05 January 2009
by: Jesse Westbrook and David Scheer, Bloomberg
U.S. lawmakers, critical of the Securities and Exchange Commission's failure to uncover Bernard Madoff's alleged $50 billion fraud, demanded the agency speed up an internal investigation of its missteps to help in their overhaul of market regulations.
The SEC must report what happened, "so we can do our jobs and make sure the laws and authorities are in place to see that this never happens again," said Paul Kanjorski, chairman the House subcommittee overseeing capital markets, at a hearing in Washington today. "Our regulatory system has failed miserably and we must rebuild it."
SEC Inspector General H. David Kotz said his staff will issue reports on a "rolling basis" within months as it examines how inspections and probes involving Madoff since 1992 overlooked what may be the biggest Ponzi scheme in history. Madoff, 70, was charged Dec. 11 with securities fraud after allegedly telling his sons his business was "one big lie."
The hearing is the first in a series of congressional forums this year to close regulatory "loopholes" and consider whether market watchdogs need additional authority or funding, Kanjorski said. Lawmakers including Ron Paul, a Texas Republican and unsuccessful presidential candidate in 2008, said the SEC's oversight of Madoff shows it should be scaled back or eliminated. At times, frustrations flared.
"Who is responsible for protecting the securities investor, because I want to tell that person that they suck at it," said Representative Gary Ackerman, a New York Democrat. "This is a spike in the heart of the investment community that makes America run."
Senate Demand'
Lees verder: http://www.truthout.org/010609O
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