Word: sec
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Dates: during 2000-2009
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...hearing was the committee's second in a series to help guide the most substantial rewrite of the laws governing the U.S. financial markets since the Great Depression. Ultimately, Markopolos asked the committee to "restructure" the SEC, calling it "nonfunctional" and "harmful to our nation's reputation as a financial leader...
Harry Markopolos, the man who knew too much about Bernie Madoff, appeared in public on Wednesday, and this time the Securities and Exchange Commission (SEC) was listening...
...front of the House Financial Services Committee hearing, the former investment manager told how his nine years of repeated warnings to SEC enforcement officials went ignored and how they dismissed his detailed "red flag" reports. Markopolos also told the committee that tomorrow he will be turning over evidence to the SEC of another major Ponzi scheme, a $1 billion "mini-Madoff." It's expected that the SEC will pay closer attention to him this time. (Read "Bernie Madoff's Victims: Why Some Have No Recourse...
...whistle-blower said in written and oral testimony that he and his associates did their best "to stop the most complex and sinister fraud in American history," but that no one at the SEC cared...
...With SEC's top enforcement brass in the back of the hearing room, House committee members, including Pennsylvania Representative Paul E. Kanjorski, chairman of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, listened to by far the most damning explanation of how the government missed Madoff's crime for decades...