Harry Markopolos Quotes
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Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it's not the armed robbers or drug dealers who cause the most economic harm, it's the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.
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The best thing you can say about offshore investors is that they're tax cheats in their home countries.
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We as the American people have to hold ourselves accountable because we didn't hold our government accountable.
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I have ... spoken to the heads of various Wall Street equity derivatives trading desks and every single one of the senior managers I spoke with told me that Bernie Madoff was a fraud. Of course no one wants to take an undue career risk by sticking their head up ... The fewer people who know who wrote this report the better. I am worried about the personal safety of myself and my family.
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The SEC now is 3500 chickens, and we need to get some foxes in there.
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I don't know how I could have been more explicit. I gave them a roadmap and a flashlight, but they didn't go where I told them to go, they didn't look where I told them to look, they didn't tell the people I told them to call.
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A super-sized fraud of this magnitude was bound to happen given the lack of regulation of these off-shore entities.
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Now, a 45-degree angle is not something we deal with in finance. It's something you see in a high school geometry class. Performance like that has never been recorded in human history.
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I've found that wherever there is one cockroach in plain sight, many more are lurking behind the corner out of view.
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Madoff Securities is the world's largest Ponzi scheme.
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We have to take personal responsibility. The government didn't do its job when the institutions needed to be held accountable. If you see something's wrong, you can't just turn the other way. The regulatory system was totally rotten from top to bottom.
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Related Authors
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Eric Swanson Lawyer -
Bernard Madoff Stockbroker -
Charles Ponzi Businessman -
Gary Ackerman Former U.S. Representative -
Mary Schapiro Former Chairperson, Securities and Exchange Commission