Harry Markopolos has testified at a House hearing that he had warned the S.E.C. about the Madoff ponzi scheme since 2000 and nobody did anything about it. Markopolos has also said that he feared for his life as a whistle blower (And was called paranoid by a committee member ).
Now let's see if we have this straight... Markopolos, who is somewhat of a heavy hitter on Wall Street, has been trying to get the SEC to do something about Madoff for EIGHT YEARS?? Doesn't the SEC have a duty to at least "look into" any allegations that are brought to them, regardless of the source? And this wasn't just a little minor insider trading...this was a freaking ponzi scheme that allegedly has been going on for decades.
What the hell?
The insanity continues...