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Markopolos Wanted To Go Under Cover, Wear A Disguise, To Catch Madoff
Harry Markopolos, the whistle-blower on the Berrnard Madoff case, just offered a remarkable cloak-and-dagger tidbit in his testimony before a House committee, demonstrating his commitment to bringing Madoff to justice.
He said he offered to go under cover, "as I was trained to in the army," -- and wearing a disguise -- in order to catch Madoff.
Here's the full quote:
In fact, I made an offer to the SEC in my October 2001 submission, if you look closely, you'll see, I offered to go undercover for the SEC, under their command and control, and have no one know where I was, except my wife, and have no contact with my family, during this time. And I would have assumed a disguise, as I was trained to in the army, and gone under cover and led that team to a successful result very quickly. I don't know what more I could do to put it on the line.
We don't either. Though the wife exception makes it seem like maybe he wasn't really committed enough.
Late Update:
And here's the video:
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Josh
Zachary
It's just pathetically sad that it takes this sort of testimony before the media reports how corrupt our regulatory agencies have become. It was never what it should have been, but during 8 years of predictable Republican misrule that level of corruption is staggering. This is not different, but far costlier in dollars and cents, than the whole peanut butter processing scandal where the regulators under the Republicans simply did not do their jobs and understood that it was their job not to do their jobs. People ought to be headed to jail for this, but I think we'll be lucky to see even Madoff go to jail let alone the corrupt regulators who allowed him to run wild with his fraudulent ponzi game.
February 4, 2009 11:33 AM | Reply | Permalink
Nice snark in that last line! :-)
If only we had more citizens willing to put everything on the line for Justice. This man should receive a medal of honor.
February 4, 2009 11:34 AM | Reply | Permalink
We must emphasize how much this state of affairs is the Republicans' fault. Republican de-regulation is the fault of the Republicans, Republicans created the mess, Republicans are to blame.
Blame them with every breath - or they will stand around, whistling casually, saying "oh gosh look at that bunch of stuff that happened"
BLAME THE REPUBLICANS is what I am saying.
February 4, 2009 11:46 AM | Reply | Permalink
There are limits to democracy.
We are looking at them.
February 4, 2009 1:42 PM | Reply | Permalink
Don't get me wrong. I am so glad this guy blew the whistle but..
This guy just seems a little too Inspector Clousseau for my taste. Just sayin...
February 4, 2009 5:17 PM | Reply | Permalink