Friday, February 06, 2009

"The pile of dung that is Bernie Madoff"

The following video makes my list of required viewing for all Americans, even school-age children. It is enlightening, humorous, and distressing all at the same time, and Rep. Gary Ackerman, a Democrat from New York, really brings home how broken the Securities and Exchange Commission truly is, with its "investigations" of large Wall Street players like Bernard Madoff. More politicians need to take this hard line with our inept bureaucracies, immediately, especially when they fail so spectacularly:

And here's video of the Markopolos testimony mentioned in the video above. Harry Markopolos tried repeatedly to bring Madoff's scheme to the attention of the S.E.C. for almost a decade, to no avail: