The Emperor has no clothes - Madoff did not buy securities

[Silverbird]

NEW YORK - The trustee in charge of untangling the mess left behind by Bernard Madoff told a packed auditorium Friday there was no indication the disgraced money manager had bought securities for his clients for over a decade

http://www.msnbc.msn.com/id/29299931/
"The cloth is so light you can't even feel it. And only a good, just man can see them. I'm sure you can see every fine detail, the gold embroidery...." - Lies from the "clothing makers" who made the Emperor's "clothes".

 

[Viva_La_Migra]

NEW YORK - The trustee in charge of untangling the mess left behind by Bernard Madoff told a packed auditorium Friday there was no indication the disgraced money manager had bought securities for his clients for over a decade

http://www.msnbc.msn.com/id/29299931/
"The cloth is so light you can't even feel it. And only a good, just man can see them. I'm sure you can see every fine detail, the gold embroidery...." - Lies from the "clothing makers" who made the Emperor's "clothes".

I only read the first half of the thread title...I thought it was referring to the Obama stimulus bill!:nuts: On a serious note, as a federal employee, I am embarrassed by the lack of action on the part of the SEC in this scandal. It's stuff like this that gives us a bad reputation. I don't blame the employees, though, I blame the leadership, or lack thereof!

 

[KevinD]

I know it's not quite the same but the Peanut Corp. of America is another example of lack of oversight.