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Markopolos On SEC Staff:
"They haven't earned their paycheck, and they need to be replaced."
The whistleblower on the Madoff case, Harry Markopolos, just gave his oral testimony, in which he ripped the SEC in unusually direct language. More to come.
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Josh
Zachary
"They haven't earned their paycheck, and they need to be replaced."
That's mild.
Something about "gallows of shame" would be more appropriate.
February 4, 2009 10:44 AM | Reply | Permalink
Yes, Harry is doing a great thing. To think it too him 10 years to get someone to listen to him is incredible. During his testimony, he declined to accept a position on the SEC for at least two years. When pressed by a senator if he would consider the position after two years, Harry again stumbled.
For more background, ready Ross Kerber's article "The Whistleblower" on The Boston Globe:
http://www.boston.com/business/articles/2009/01/08/the_whistleblower/
February 4, 2009 11:13 AM | Reply | Permalink
I nominate Harry for Canonization---the man has the patience of a Saint, to be able to continue plugging away at his job in the face of Bush Admin incompetence and collusion, and late Clinton Admin incompetence or collusion (note: 'or', as opposed to 'and').
This guy should get some reward for selfless public service (and not the lynching the ReThugs surely want)
February 4, 2009 11:33 AM | Reply | Permalink