a hero

Everyone should know and applaud Harry Markopolis. He is the man who tried to get the SEC to pay attention to the misguided behavior of Wall Street for the past nine years. He warned that Bernard Madoff was a fraud, and that what he claimed to be doing was impossible. In a seventeen page letter in 2005 Markopolis exposed what was believed to be a Ponzi Scheme orchestrated by Madoff . 2005!!!!!! What was the SEC doing? An agency created during the New Deal to protect investors from unscrupulous financial predators has certainly lost its way. We all need to wonder why this situation was allowed to exist for so long. Why, after the Enron debacle and the supposed "clean up" at the SEC did Wall Street continue to engage in reckless behavior and get away with it? The American public has been feed a regular diet of free market rhetoric and many have come to believe that government regulation is the enemy. If only there had been a little responsible regulation...If only someone had paid attention to Harry Markopolis...If you think none of this affects you, you are part of the problem.