Madoff documents reveal incredulous, unfocused SEC

U.S. securities investigators raised repeated concern over how Bernard Madoff could be running an honest business, but never followed through on the many red flags they uncovered.

[Jones]

It is time for the American people to be concerned about their money and their children and grandchildren future tax money that already disappeared between Obama and his forty thieves called czars with no 'watchdog' including a fake SEC.
Washington DC became the center of corruption and easy theft of the American people tax money by the well trusted elected politicians in the White House and our elected politicians in US Congress who discovered that money means power especially if it was stolen from the American people.
Madoff kept stealing money from the people that he deceived without even spending the money in stock market but the only problem with officials at the SEC Securities and Exchange Commission was that they even did not know about it because they even did not check with one phone call.
Madoff was able to steal more than 65 billion dollars from American investors who trusted Madoff and the SEC.
Similarly, the American people trust the fake African son of the Luo Tribe Barack Hussein Obama whose ID is still a mystery for managing the trillions of dollars that he now owns and controls in Us banks, Mortgage companies, insurance, industry, automakers, transportation, energy and now healthcare.
The White House boasted that Obama spent 207 billion dollars on keeping jobs of more than 600,000 teachers that members to the Teachers Union, which means more than $207,000 dollars for each teacher and the teachers union of our tax money compared to $46,000 average in the private sector
The Clunker deal of Obama that ‘helped’ sales of mostly Japanese and South Korean car companies cost the American taxpayer $24,000 per car that went to UAW union hordes of Obama.
Obama keeps re-distributing our tax money and the tax money of our children and grandchildren to his union parasites, acorn gangsters and his friends and interest groups all over the world with no control or any record of US congress or the SEC or any other watchdog.
Evidently, Obama is the new Madoff except that he deals with trillions of dollars rather than tens of billions of our money that is gone in the wind with no traces.

[joe]

This is a stupid bit of editing. Go look up the definition of the word "incredulous." The point of the article is that the SEC was not incredulous. To the contrary, they were credulous. They believed what they were told. They did not ask questions, or they did not look further than the lies they were told.

[progressive]

joe wrote:

This is a stupid bit of editing. Go look up the definition of the word "incredulous." The point of the article is that the SEC was not incredulous. To the contrary, they were credulous. They believed what they were told. They did not ask questions, or they did not look further than the lies they were told.

they were incredulous with regard to the whistleblowers. and credulous with regard to Madoff. imagine how different outcomes would be if the folks at the sEC were financially liable for the damage done by any crook they did not adequately investigate and stop and prosecute. I think Greenspan should have to pay out of his own fortune, for the damage he did too - put him on a white-collar chain gang equivalent, and let him work off all he has cost the American people.

[writewingproxyco ntin]

Since capitalism itself is a Ponzi scheme, albeit a very long running one, I don't see what the big deal is here.