Bernard Madoff 2009 – Latest Bernard Madoff 2009 news – Madoff trustee and law firm submit US$22.1M bill
Ok so you might find the next few links interesting. These are from around the web, just random snippets that I’ve picked up in my reading, but I found some very cool information in them. You might too. Here goes…
Madoff trustee and law firm submit US$22.1M bill
Bernard Madoff's bankruptcy trustee and the law firm employing him have asked a US judge to be awarded. … 15, 2008 to April 30, 2009 period, comprising more than 38270 hours of work. Mr. Picard is separately seeking US$835605 of fees for the May 1 to Sept. 30 period for acting as trustee for the Securities Investor Protection Corp, the federally chartered agency that supervises brokerage liquidations. He was previously awarded US$759229 for the 4-1/2 months ended April …
Madoff Fee Watch – Bankruptcy Beat – WSJ
Irving Picard, the lawyer winding down Bernard Madoff's investment firm, has charged the firm's bankruptcy estate about $1.6 billion since he took the job. … Bankruptcy Beat. An inside look at companies in trouble from Daily Bankruptcy Review. The Daily Docket: Reliance Offers To Buy Lyondell. November 23, 2009, 1:34 PM ET …
N.J. computer programmer who worked for Bernard Madoff is arrested …
NJ computer programmer who worked for Bernard Madoff is arrested by FBI Evans Java blogging site. I use this site to write about Evans, Java and other technology related issues. If you name is Evans and would like to post here, let us know. … two former computer programmers for Bernard Madoff's investment firm on charges they helped cover up his massive fraud for more than 15 years. Thanks for information. Posted by flash speicher on November 14, 2009 at 06:26 AM GMT # …
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Why didn't the SEC catch Madoff early on?
Arthur Levitt, Jr. was the longest serving head of the SEC. Do a Google search on him, see what pops up.
He was appointed by Clinton in 1993 and again in 1998. He left in 2001, so he covered the entire Clinton administration.
Levitt gave Madoff a free pass because they were both members of the Harmonie Club, a social club for the ultra wealthy in NYC.
Madoff was first reported to the SEC in 1992:
http://www.guardian.co.uk/business/2009/…
Report: Regulator was tipped off about Madoff fraud as early as 1992
“a suspicion of trouble at Madoff Investment Securities arose as early as 1992 when customers of Avellino & Bienes, a fund that invested all its money with Madoff, complained about documents making a seemingly impossible promise of “100%” safe investments. Although the SEC shut down Avellino & Bienes, the agency only made a “brief and very limited” examination of Madoff.”
Avellino & Bienes was shut down by the SEC in 1993, the year Levitt took charge.
Levitt also gave a special exemption to Enron, exempting it from accounting rules. This special exemption led directly to the Enron scam and the subsequent meltdown of the company, which took down a major chunk of the economy with it. It also led to the discovery of similar fraud at many other companies, fraud that got its start in the Clinton years.
BTW, this fraud was busted on Bush's watch. So if Bush was buddies with Kenny Boy, he wasn't a very good friend. Not as good as Levitt and Madoff.
If I was going to pick one individual who was most responsible for the rampant fraud of the Clinton years, it would have to be Art Levitt.
BTW, did I mention that Clinton appointed him TWICE? That's unprecedented. Most SEC chairs had a tenure of two or three years. The second longest was five years for Manuel Cohen under JFK.
Levitt stayed as the chair for Clinton's ENTIRE EIGHT YEARS.
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