Wall Street Journal Could Have Prevented Ponzi Scheme
 

money04
Whoops, Wall Street Journal. You could have saved investors millions (if not billions) of dollars if you had only gone after that Bernie Madoff tip you got three years ago. If only you had listened to fraud investigator Harry Markopolos, who gave his testimony before the House today, where he essentially laid out all the emails he had sent to the editors of the WSJ, begging them to look into this Madoff thing. Markopolos also blamed the Securities and Exchange Commission for not listening to his Cassandra-esque warnings that all the money Madoff was collecting would have been better off being flushed down a toilet. I wonder if anywhere in the prepared testimony the phrase "I told you so" appears, or if Markopolos is just too busy rolling his eyes at this whole mess to comment.

Feb 4, 2009 · 30 views (beta) · Link · 2 Responses
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Comments (2)

No. 1 · Shah D

I think the entire economic colleps is planned by few very rich.

The wealth was being distributed creatin big middleclass and that narrows the difference in lif style of Rich vs. Middle class.

This is the time to correct by making rich, richer and middleclass to poor class.

Posted: Feb 4, 2009 at 9:24 pm · @Reply · [Flag?]
No. 2 · ILoveAmerica

What nonsense! To blame the Wall Street Journal for not going after Madoff when the SEC wouldn't do it is like calling your local news station instead of 911 for an emergency…

Posted: Feb 5, 2009 at 8:40 am · @Reply · [Flag?]
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