Summary
WASHINGTON (Reuters) - Harry Markopolos, a former investment manager who tried to warn U.S. regulators about Bernard Madoff, joined lawmakers in blasting the Securities and Exchange Commission but said he was forwarding more tips to the agency.
Markopolos told a congressional hearing on Wednesday [Feb. 4] that SEC staff were neither willing nor able to uncover Madoff, arrested in December and charged with a record-shattering $50- billion fraud.See the full content of this document
Extract
Sec Pummeled As Madoff Tipster Testifies
Calling SEC staff "too slow, too young and too undereducated," Mr. Markopolos said the regulator was hindered by lawyers, did not understand red flags, could not do the math and was captive to the financial industry.
"They looked at the siz...See the full content of this document
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