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"Whistleblower says Madoff had help"

Can't say I'm surprised, SEC always seemed like a joke to me.

I don't know how less regulation is the answer, though. No regulation is basically what we have with the current SEC, and the result is rampant fraud.
 
The SEC has some culpability here.

For one thing, they should have known that the very small CPA firm was not comptetent to audit a compnay of Madoff's size. The SEC and the accounting authorities work together closely, the SEC knows the rules and turned a blind eye.

Fern
 
Originally posted by: LegendKiller
How much regulation do firms like Madoff's have? You go look it up bamacre and let me know.
Click to expand...

Totally irrelevant.

This is just further proof that Madoff could have been and certainly should have been caught without any new laws or regulations.
 
Originally posted by: bamacre
Originally posted by: LegendKiller
How much regulation do firms like Madoff's have? You go look it up bamacre and let me know.
Click to expand...

Totally irrelevant.

This is just further proof that Madoff could have been and certainly should have been caught without any new laws or regulations.
Click to expand...

It is very relevant.

If he wasn't regulated much to begin with (aka, a free market), then how would he have been caught?

Do you even know how this industry works, specifically, funds like his, and his specifically?

Something tells me you have no damn clue what you're talking about.
 
Originally posted by: LegendKiller
Originally posted by: bamacre
Originally posted by: LegendKiller
How much regulation do firms like Madoff's have? You go look it up bamacre and let me know.
Click to expand...

Totally irrelevant.

This is just further proof that Madoff could have been and certainly should have been caught without any new laws or regulations.
Click to expand...

It is very relevant.

If he wasn't regulated much to begin with (aka, a free market), then how would he have been caught?

Do you even know how this industry works, specifically, funds like his, and his specifically?

Something tells me you have no damn clue what you're talking about.
Click to expand...

Something tells me you didn't read the article nor watch Markopolos's statement. Something tells me you can't face the fact that it wasn't the market that dropped the ball, but your beloved government.
 
Originally posted by: bamacre
Originally posted by: LegendKiller
Originally posted by: bamacre
Originally posted by: LegendKiller
How much regulation do firms like Madoff's have? You go look it up bamacre and let me know.
Click to expand...

Totally irrelevant.

This is just further proof that Madoff could have been and certainly should have been caught without any new laws or regulations.
Click to expand...

It is very relevant.

If he wasn't regulated much to begin with (aka, a free market), then how would he have been caught?

Do you even know how this industry works, specifically, funds like his, and his specifically?

Something tells me you have no damn clue what you're talking about.
Click to expand...

Something tells me you didn't read the article nor watch Markopolos's statement. Something tells me you can't face the fact that it wasn't the market that dropped the ball, but your beloved government.
Click to expand...

Who were his primary investors?
 
Originally posted by: LegendKiller
Who were his primary investors?
Click to expand...

See, this is the reason I shouldn't even bother to argue with you. You can't face facts, and argue with redirection. Basically from hedge funds. Relevant? Of course not.

The SEC completely dropped the ball. Years ago. End of discussion.
 
Originally posted by: bamacre
Originally posted by: LegendKiller
Who were his primary investors?
Click to expand...

See, this is the reason I shouldn't even bother to argue with you. You can't face facts, and argue with redirection. Basically from hedge funds. Relevant? Of course not.

The SEC completely dropped the ball. Years ago. End of discussion.
Click to expand...

What's funny is you can't even see what's in front of you.

You claim that investors should have seen this, but were depending on the government for regulation. What my point with the above questions is, if you knew the investor make-up in Madoff's funds and Madoff's general investor policy, you might realize that regulation had nothing to do with their decisions.

Additionally, the SEC barely regulates most of these funds. More or less they let them go about things as they see fit, as they do with most hedge funds. This is probably the most free market on the planet.
 
Whistleblower? More like con man. The ground work for the bailout for billionaires is being set up here.
 
Originally posted by: bamacre
Originally posted by: LegendKiller
Who were his primary investors?
Click to expand...

See, this is the reason I shouldn't even bother to argue with you. You can't face facts, and argue with redirection. Basically from hedge funds. Relevant? Of course not.

The SEC completely dropped the ball. Years ago. End of discussion.
Click to expand...

SEC has nothing to do with this hedge funds are largely self regulated by law only real lawful requirement being a accredited investor - ie rich and savvy enough to know you may loose it ALL and can afford to lose it ALL..
 
Originally posted by: bamacre
Originally posted by: LegendKiller
Originally posted by: bamacre
Originally posted by: LegendKiller
How much regulation do firms like Madoff's have? You go look it up bamacre and let me know.
Click to expand...

Totally irrelevant.

This is just further proof that Madoff could have been and certainly should have been caught without any new laws or regulations.
Click to expand...

It is very relevant.

If he wasn't regulated much to begin with (aka, a free market), then how would he have been caught?

Do you even know how this industry works, specifically, funds like his, and his specifically?

Something tells me you have no damn clue what you're talking about.
Click to expand...

Something tells me you didn't read the article nor watch Markopolos's statement. Something tells me you can't face the fact that it wasn't the market that dropped the ball, but your beloved government.
Click to expand...

a government that was of the mind not to bother with things like regulation.

government itself didnt fail, the kind of government failed.
 
Originally posted by: Zebo
Originally posted by: bamacre
Originally posted by: LegendKiller
Who were his primary investors?
Click to expand...

See, this is the reason I shouldn't even bother to argue with you. You can't face facts, and argue with redirection. Basically from hedge funds. Relevant? Of course not.

The SEC completely dropped the ball. Years ago. End of discussion.
Click to expand...

SEC has nothing to do with this hedge funds are largely self regulated by law only real lawful requirement being a accredited investor - ie rich and savvy enough to know you may loose it ALL and can afford to lose it ALL..
Click to expand...

Shhhhh, don't overwhelm his brain cell. I am feeding him a little bit at a time, maybe he'll get there on his own.
 
Originally posted by: bamacre
Wow, you guys are about as worse as the Bush apologists.
Click to expand...

"about as worse"?

lol. Keep going sparky. Just keep showing everybody on the internet how clueless you are about this stuff. You're only hurting yourself, ohh, and the other 2% of Ron Paul Bots out there.
 
LK you need to go beyond spoon feeding you need to do the airplane noises / funny faces routine as well. Hedge funds do buy/sell stocks (among many other things), so it's an easy mistake for the layman to assume the SEC has much of a say in how they operate / report (as evidenced by OP and multiple replies here).

Also if you think hedge funds are regulated, what about the CDS market is it regulated? You might want to do some more research into what a free (zero regulation) market brings when all the participants know there's no regulation, and what the consequences are.
 
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