Saturday, October 31, 2009

Madoff says SEC chair "dear friend," professes amazement that he wasn't caught earlier

(WSJ.com) -- Tonight the Inspector General of the Securities & Exchange Commission gives us Bernie Madoff in his own words — A jailhouse interview that Madoff granted to the SEC’s watchdog during his stay at Metropolitan Correctional Center in lower Manhattan on June 17. Madoff spent much of the interview slamming the SEC: “Everything the SEC did prior to 2006 was a waste.” He said that the inspectors who combed through his books found only “ridiculous violations.” Madoff adds that he never supplied false documents to the SEC, but that it was “amazing to me” that he didn’t get caught...At one point, he called the SEC’s current head Mary Shapiro a “dear friend,” but doesn’t elaborate on how he knew her. CNBC was reporting tonight that the SEC rejects that characterization...Cont'd...LINK

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