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Quotables
Dec. 16, 2008
A very skillful criminal can almost always outfox the regulator or the overseer."
— Former SEC chairman Arthur Levitt, who knew and worked with Bernard L. Madoff.
By
washingtonpost.com Editors
|
December 16, 2008; 7:31 AM ET
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© 2009 The Washington Post Company
This quote is laughable. The SEC was warned as early as 1999 that Madoff was running a Ponzi scheme, but the old-boy network prevailed and his operation was never investigated. Enough of the lame excuses -- how is the SEC going to change their enforcement so they can catch some of the other Ponzi schemes which are going on as we speak? This is not the last shoe to drop...