Re:Exec who cleaned up Enron calls FTX mess 'unprecedented'
by Animats on Friday November 18, 2022 @07:19PM
(#33665018)
Madoff was at one time being considered for a job at SEC, and regularly worked with them on issues unrelated to his business.[1] That probably postponed investigations that should have happened earlier. After the crash, it didn't help. Madoff went to jail and the SEC was investigated by Congress and its own inspector general.
“While examiners and investigators discovered suspicious information and evidence and caught Madoff in contradictions and inconsistencies, they either disregarded these concerns or relied inappropriately upon Madoff’s representations and documentation in dismissing them.” - SEC inspector general
A few SEC employees were disciplined internally, but none were fired.
“While examiners and investigators discovered suspicious information and evidence and caught Madoff in contradictions and inconsistencies, they either disregarded these concerns or relied inappropriately upon Madoff’s representations and documentation in dismissing them.” - SEC inspector general
A few SEC employees were disciplined internally, but none were fired.
[1] https://www.reuters.com/article/us-madoff-sec-remarks-idUKTR...