"Abject Failure:" Madoff Whistleblower Slams SEC

Stock Market News- ------------------------------------------------------------------------------------------------- Stocks were set for a middling open Wednesday after Discount Store A and Manufacturer B warned earnings might not be very good or less then expected. However, both stocks rallied at todays opening as each reported slightly better worse-than-expected fourth-quarter results. In other news, the Market reacted positively to a better-than-expected government Employment Report saying unemployment hit the low double digits offsetting some of the really bad corporate news, including massive layoffs caused by several small Hiroshima type nuclear explosions occurring simultaneously in downtown New York, Washington DC, Dallas, Los Angles, Boston, Atlanta and Chicago. But amid this period of relatively modest market drama, some individual stocks are experiencing outsized moves, in both directions. The market and top Wall Street Executives reacted favorably as construction, hospital, ambulance, bandage, travel Agency and Moving Van stocks rallied on the good news that only 93 million Americans had been killed and only one forth of the US remains uninhabitable for eight hundred years. However, Mortuary and embalming stocks declined on the news that 93 million Americans had been instantly cremated. Relatively speaking, the market is still experiencing big moves as the anticipated Thursday 10% to30% rally and/or decline will indicate. But relative to Wednesday’s timeframe, when big moves seemed the norm, the market will settle down into a much calmer environment. Not many on Wall Street are complaining about radioactive burns, loss of kin, skin, eye sight, teeth or occasional limb that falls off… because there dead. In a minor news story the US Government today announced a 30 increase in all state and Federal Income Taxes along with a new death tax rate of 99% effective Jan 1, 2009 on all estates valued at $1 or more. The Government said Americans have to pick up the slack for the 1/3rd expected to claim death as non taxable this year. -------------------------------------------------------------------------------------------------- This news was brought to you by the SEC and Neoconservative Republican News Agency where the only good lies are big ones.

i dont fucken care

Liquidate the SEC. Start a new agency. Put Harry Markopolis in charge. Revenge is a dish best served in cold blood.

TRIED VIOXX FOR ONE DAY ,ALMOST DIED,ATE PEANUT CRACKERS, GOT SICK,,OWNED A HOUSE NEXT TO A "HOUSING AUTHORITY", TOOK TWO YEARS TO SELL HOUSE AT A 50% REDUCTION .UN INSPECTED,UNLISCENSED PEANUT FOOD PLANTS,50 BILLION DOLLAR PONZISSSSSSS.....,MELAMINE DISHES IN WHEAT,MILK ,BABY FORMULA. SPINACH, ONIONS,PEPPERS,DOG FOOD. $100,000 STORED IN FREEZERS,CHANGING BANKING LAWS"2000" WHATS NEXT......CONCLUSION !!!!!. IF THE GVT, APPROVES IT , TESTS IT, CONDONES IT,ALOWES IT ,INSPECTS IT ,""""'"'"DONT GET NEAR IT"""""""".OR SO IT SEEMS...... anybody remember how much "martha"made....sure jumped on her azz . hud,sec,fda,fannie,freddie,congress,..DO YOU BELIEVE THIS ????

TRIED VIOXX FOR ONE DAY ,ALMOST DIED,ATE PEANUT CRACKERS, GOT SICK,,OWNED A HOUSE NEXT TO A "HOUSING AUTHORITY", TOOK TWO YEARS TO SELL HOUSE AT A 50% REDUCTION .UN INSPECTED,UNLISCENSED PEANUT FOOD PLANTS,50 BILLION DOLLAR PONZISSSSSSS.....,MELAMINE DISHES IN WHEAT,MILK ,BABY FORMULA. SPINACH, ONIONS,PEPPERS,DOG FOOD. $100,000 STORED IN FREEZERS,CHANGING BANKING LAWS"2000" WHATS NEXT......CONCLUSION !!!!!. IF THE GVT, APPROVES IT , TESTS IT, CONDONES IT,ALOWES IT ,INSPECTS IT ,""""'"'"DONT GET NEAR IT"""""""".OR SO IT SEEMS...... anybody remember how much "martha"made....sure jumped on her azz . hud,sec,fda,fannie,freddie,congress,..DO YOU BELIEVE THIS ????

For any idiot that says that the people investing with Madoff didn't do due diligence, I say that idiot is dead wrong - - it's clear many people thought they did very careful due diligence (and are they all supposed to be financial experts?) - - and statements like those try their best to cover up flaws that need to be corrected in the system as a whole, somehow and sternly corrected, with ENFORCED laws being enforced by COMPETENT people who are looking for problems, not smoozing with the rich and powerful. Nobody should be above the law.

Madoff should be banned from the securities industry for life! That'll fix him! Right Henry?

Hey, don't be so hard on the SEC. At least they have protected America from those dangerous "pattern day traders" with accounts under $25,000. Not to mention a few teenagers pumping and dumping penny stocks.

Dear ( jd_right - Wednesday February 04, 2009 07:18PM EST) ----------------------------------------------------------------------------------------------- There’s some truth to what you say as evil lurks on both sides of the street. However, traditionally Republicans have always been for big business and the Dem’s for the people. ------------------------------------------------------------------------------------------------ However, the truth is what it is... and Obama's been left a very, very big mess to clean up. -------------------------------------------------------------------------------------------------- Furthermore, up to the point Obama came into office on January 20, 2009… your guys… the Neoconservative Republicans, (as Reported by Bloomberg and AP News Services)---- As of December 20, 2008 the Bernanke Federal Reserve and Paulson Treasury collectively gave and/or committed lines of credit giving “$9 TRILLON ” in cash to bailout Fannie Mae & Freddie Mac, hedge funds, 11 mega banks & investment banks, Big 3 (Ford, GM & Chrysler) Insurance Company AIG, regional and mega World Banks. This amount is expected to exceed “tens of trillions of dollars” before this financial crisis is over ----------------------------------------------------------------------------------------------- . You see... the Neoconservative Republicans practiced the old switch-a –roo… “look at the $350/$700 billion bailout in my left hand as my right steals trillions from the taxpayers deeper pockets.” ------------------------------------------------------------------------------------------------ While the aforementioned is still fresh in your mind... think about these final two points; ------------------------------------------------------------------------------------------------- 1) The total number of various “uncollateralized” derivatives contracts circulating the World causing this monetary problem as of October 30, 2008 was estimated at over “$520 trillion dollars” in addition too $100’s of trillions in oil derivatives and interest rate swaps … what if many of these are bad? ------------------------------------------------------------------------------------------------- 2) How much money will the new Treasury and/or Bernarke Federal Reserve have to spend before this mess ends and Americans wake up? ------------------------------------------------------------------------------------------------ It’s not Democracy or Socialism… it’s called good old fashion Bush Neoconservative Republican… “Fascism,” ------------------------------------------------------------------------------------------------ The truth is what it is.

MONEY TALKS- BURN-NEE MADE OFF WILL PROBABLY GET A HAND SLAP BECAUSE OF HIS AGE (HOUSE ARREST NOW) AFTER HE SLICKED ALL CLIENTS OF THEIR INVESTMENTS.EVER NOTE HOW SMUG HE APPEARS (WEARING BALL CAP) ON NEWS FOOTAGE? THE ENTIRE MESS IS SAD AND SICK

We need an agency to regulate the SEC.... perhaps the SECES.

BALL CAP NEWS FOOTAGE OF BURNEE.....ALL IT LACKS IS TO BE SET TO THEME SONG FROM THE BENNY HILL SHOW

These 2 knuckleheads are defending SEC and down playing? I think they are in on it. Please, this scam is going on at the US Treasury and Federal Reserve Bank. The whole system needs to be flushed and then setup with new watch dogs and trip wire systems to stop money laundering and fraud.

Madoff should be made the head of the SEC. Is not that how we do government now days?

wrongo gimpy... repubs are the party of big business, dems are the party big gov't. Who was Markopolos working for?

Why is Mary Schapiro who was the head of very corrupt Financial Industry Regulatory Authority, has been made SEC chairman? Is this the change President Obama promised to common people? Common people need somebody at the helm who would cleanse SEC and work as investor's advocate.

Pretty soon the whistle-blower's enemies will be sending him a call girl to get him out of the picture, like Elliot Spitzer. Will he be able to resist?

Unfortunately, SEC can't be regulated. Corruption will continue as long as the Federal Reserve lives. If I was Harry Markopolos, I would not waste my time chasing a defrauder and alerting SEC. I would be totally committed to destroy the Federal Reserve first. Then we should force the U.S. Government to restructure the financial system so the governmental U.S. Treasury, not the private Federal Reserve System, starts to issue banknotes. Even if we successfully make Bernie Madoff to pay a penalty, there may be already many others like him. Don't forget that all of Americans' bank accounts are consisting of the Federal Reserve banknotes. The Federal Reserve System is not accorded to the U.S Constitution, because it, not the U.S. Treasury, issues the banknotes since 1913 or 1914. Israel is very dependent on the U.S. Federal Reserve and America to do fighting for Israel in the Middle East. Although the U.S. Federal Reserve is acting tough on money laundering, it would not do something with Israel's money laundering rings which take billions of dollars from the U.S. through Jewish organizations in America. U.S. Justice and U.S. Treasury Department refused to investigate on that matter. ( http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=ind_focus.story&STORY=/www/story/12-22-2008/0004945743&EDATE= )

It's becoming very clear SEC is one of the most corrupt organization. SEC has shielding and protecting people like Madoff who were swindling billions of dollars. Where is justice in USA?

Dear (Yahoo! Finance User - Wednesday February 04, 2009 08:55PM EST) ---------------------------------------------------------------------------------------------------- No… Republican claim to fame was party of big business, “big government and to prove it doesn’t work.” The past eight years under Bush the US Government grew in size and dollars… add in Katrina, Iraq War, assorted scandals and lies… they pretty much proved their point. That Neoconservative Republicans were incompetent and couldn’t operate a garage door opener let alone the US Government. ------------------------------------------------------------------------------------------------ Now it’s up to the Democrats to again clean up the Republicans mess and save America. ------------------------------------------------------------------------------------------------ You know… I’m continually amazed at how Republicans tend to live in a constant state of denial… almost like an altered reality of some sort… twilight zone maybe? -------------------------------------------------------------------------------------------------- The truth is what it is.