Corrupt Cop At SEC Related to Madoff

Bernie Madoff  After A Judge Places Him on House Arrest

Bottom line, Bernie should be in jail. I lock up some substance abuser and he faces the music, central booking, overnight lodging, cheese sandwich’s, two calls and a metal bed.  This man who is still ” privileged” gets to stay at home in his mansion with his Cabernet Celler,  satin sheets, intimacy of his loved ones, servants and luxuries that most of us can’t even dream of.

Amazingly, the Attorney General himslef is reusing himself because his son who is an attorney at former Mayor Giuliani firm will defend one of the Madoff Syndicate Members.  Memo to the Mayor, either your a cop or your not defending this guy makes you part of the gross behavior. See http://online.wsj.com/article/SB122953110854314501.html?mod=igoogle_wsj_gadgv1&

Numerous reports are being published that Eric Swanson a former top attorney at the New York Office of the SEC may have aided and abetted the Madoff family in their unprecedented Ponzi Scheme . In fact Swanson who married into the Madoff clan was theAssistant Director in the Office of Compliance  Inspections and Examinations. ( see http://gawker.com/5111942/ponzi-schemers-label+whoring-niece-married-sec-lawyer) .

Apparently Shana Madoff whose uncle is public enemy number one ( but only on house arrest in his Manhattan mansion) married this attorney. He later went to work for another outfit called BAT security see  ( http://www.batstrading.com/) and also . ( see http://www.reuters.com/article/pressRelease/idUS128563+18-Jan-2008+BW20080118 The Sec is now investigating this relationship  see ( http://blogs.wsj.com/law/2008/12/17/sec-to-probe-relationship-between-madoffs-niece-and-ex-sec-lawyer/)

Now BAT trading, hiring of this man Swanson, will surely have a nexus with Madoff who was the father of electronic trading at the NASDAQ.

Former SEC Chaiman  Arthur Levitt admitted this week that the Madoff Scandal tips the scales ” the system is broken see http://www.bloomberg.com/apps/news?pid=20601087&sid=aQizfLyThn.o&refer=home

It appears that Madoff used ” personal connections” to maintain his scheme, and in fact that may have included a dirty cop albeit an attorney in  a law enforcment capacity at the SEC. One article stated that you won’t see Harvard endowment losing money here because Madoff could not pass the due diligence requirements.  Fortune  is reporting under  the heading of ” who is not a client”   was basically not naive. See http://money.cnn.com/2008/12/16/news/madoff.hedges.fortune/index.htm?postversion=2008121619

This will get real bad and expose ” secret connections of the borscht belt”.  And sadly these bums crippled many critical non profit institutions especially those in New York, and serving the Jewish Community.

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3 responses to “Corrupt Cop At SEC Related to Madoff

  1. Now that’s interesting news about the corrupt cop family connection and now I see the US AG is recusing himself to boot. How far up does this scheme climb.

    It’s amazing that this scheme went on for so long. It was plain and simple old fashion fraud. Of course maybe the US government should make him Secretary of Treasury as they are pretty much doing the same scheme with all these bailouts except they can print the money and claim it’s worth something.

    Of interest to me was watching the market reaction and you can almost see from the graphs that people were getting out of the markets and into gold. I was watching the first part of the week with the real time tracker ExactPrice and gold took off after the news and continues its climb today going neck in neck with platinum.

  2. Hal, I can’t argue with your facts. I have no the compass is spinning, we can’t get our bearings and a new skipper named O’Bama has his work cut out for him in this perfect storm.

  3. Indeed he does. And with the corruption that some that he’s associated with doesn’t offer me any hope. What gives me hope though are the real people in America, those who are going out of their way this season to help others who are having a hard time.

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