Madoff's Niece in Bed With SEC Compliance Inspector

[alsaqr]

Someone had to be sleeping with an SEC compliance guy.  Here it is. 

http://news.yahoo.com/s/ap/20081218/ap_on_go_co/madoff_scandal

WASHINGTON – The fraud investigation of Wall Street money manager Bernard L. Madoff took unusual twists Wednesday as the U.S. attorney general removed himself from the criminal probe and the Securities and Exchange Commission looked into the relationship between Madoff's niece and a former SEC attorney who reviewed Madoff's business.

SEC Inspector General David Kotz is looking into the agency's failure to uncover the alleged fraud in Madoff's operation. One area Kotz said he will examine is the relationship between a former SEC attorney, Eric Swanson, and Madoff's niece, Shana, who are now married. Sen. Charles Grassley, R-Iowa, said he wants regular updates on the IG's probe.

As an SEC attorney, Swanson was part of a team that examined Madoff's securities brokerage operation in 1999 and 2004. Neither review resulted in any action against Madoff. In a statement about Swanson's role, the SEC compliance office cited its strict rules prohibiting employees from participating in cases involving firms where they have a personal interest.

[alsaqr]

BTW Corizine of NJ was also a Goldman Sachs ceo.,,,,was Madoff?

Madoff was a big wheel in NASDAQ.  Your assessment of the affair is spot on.  Madoff made sure that his well heeled friends got taken care of with double digit returns on their investments.  It was those folks in the 30 feeder funds who paid for the fantastic returns that Madoff's friends received.

Those overseas investors got worried about all the Wall St. corruption and made a run on Madoff for 7 billion dollars and he could not pay it off.  Now the once universally loved Madoff is a pariah in the Jewish community.  He could not even get two friends to sign his bond. 

[Troyboy]

and poeple try to say that the wealthy pay taxes.

[torpedoman]

aptly named fellow madoff MADE Off with the money. funny how a burgular steals 100 bucks gets 5-10 yrs is locked up as soon as he is identified . steal billions can't make bail and they make you stay home between 7pm and 9 am some justice system we have .

[alsaqr]

Madoff sits on his fat rich butt at home while some 18 year old kid who wrote one bad check in his life sits in jail.  You can bet the farm that Madoff and his fellow travelers have billions salted away in hidden bank accounts and in Israel and Russia.  The feds will probably never be able to get a conviction in NYC.  This is assuming that Madoff even stands trial.  There is a better chance he will bolt to Israel or get a dirt nap. 

This really does make me sick.