The Huffington Post reports:
In an explosive new book, Bernie Madoff whistleblower Harry Markopolos tells the inside story of how he uncovered the $65 billion fraud, claims that he exposed State Street's alleged fraud of pension funds and admits that he considered the idea of killing Madoff if he was ever threatened by the Ponzi schemer.
There's more , much more:
The SEC proved equally inept when it came to Markopolos's other cases. He claims he gave the agency 20 cases of market timing, which proved that various companies had stolen billions of dollars from investors. The SEC, Markopolos says, turned down all of them. One of his examples included a huge mutual fund that had monthly turnover percentages in its international equity funds of 1,100 to 1,300 percent range per month.
Markopolos is withering in his dismissal of just about every SEC employee whom he approached
It doesn't seem government can save you, what's the SEC's incentive to do anything?
