Tuesday, August 11, 2009

MADOFF WOWED KID PROBERS

The New York Post reports:
YOUNG, inexperienced government regulators were so wowed by Bernard Madoff's ritzy Midtown headquarters that they asked about job openings and dropped off resumes while missing clear evidence he was running a massive Ponzi scheme, a new book claims.

"No wonder they never found anything," Madoff firm secretary Elaine Solomon told author Andrew Kirtzman for his book, "Betrayal: The Life and Lies of Bernie Madoff," The Post's Dan Mangan reports.

In the book out today, Solomon, speaking out for the first time since Madoff's epic downfall last winter after years of operating his multibillion-dollar scam, said the arch-fraudster got anxious every time investigators from the Securities and Exchange Commission came knocking at his Third Avenue office in the Lipstick Building.

"But he needn't have worried," Kirtzman writes. "He and his aides were amazed at the youth and experience of the regulators who showed up at their door."
Great moments in government regulation!