Regulators were Informed of Ponzi Scene 10 years Ago

Govt workers, regulators and Wall Streeters are shocked, shocked that Madoff got away with this scam. Why? They were told TEN years ago what was going on. Of course it was a private citizen who figured it out and alerted the authorities, who of course, did nothing. Why do we pretend that the govt can effectively regulate, when they cannot. Why do we pretend private citizens can't regulate effecxtively, when they can, and do. The reason I have not been burned in this market, indeed, the reason I am making money, is I do not trust the regulators but do trust private citizens analysis.

"Financial analysts raised concerns about Madoff's practices repeatedly over the past decade, including one letter to the SEC as early as 1999 that accused Madoff of running a Ponzi scheme, but the agency did not conduct even a routine examination of the investment business until last week, The Washington Post reported on its Web site Monday night."

Pres. Obama will fix everything with propoer regulation.

Not.

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