{"id":11664,"date":"2009-09-03T06:57:12","date_gmt":"2009-09-03T10:57:12","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=11664"},"modified":"2009-09-03T06:57:41","modified_gmt":"2009-09-03T10:57:41","slug":"blistering-report-faults-sec-for-madoff-misses","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2009\/blistering-report-faults-sec-for-madoff-misses.html","title":{"rendered":"Blistering report faults SEC for Madoff misses"},"content":{"rendered":"<p>Reuters &#8211; U.S. securities\u00a0 regulators missed \u201cnumerous\u201d red flags that may have led to\u00a0 Bernard Madoff\u2019s $65 billion Ponzi scheme and never did a\u00a0 \u201cthorough and competent\u201d probe despite complaints dating to\u00a0 1992, a federal watchdog has concluded.<\/p>\n<p>The U.S. Securities and Exchange Commission\u2019s inspector\u00a0 general said in a blistering report that despite five probes\u00a0 and having caught Madoff in \u201clies and misrepresentations,\u201d the\u00a0 SEC failed to follow up on inconsistencies.<\/p>\n<p>\u201cDespite numerous credible and detailed complaints, the SEC\u00a0 never properly examined or investigated Madoff\u2019s trading and\u00a0 never took the necessary, but basic, steps to determine if\u00a0 Madoff was operating a Ponzi scheme,\u201d Inspector General David\u00a0 Kotz wrote.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.stabroeknews.com\/2009\/world\/09\/03\/blistering-report-faults-sec-for-madoff-misses\/\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; U.S. securities\u00a0 regulators missed \u201cnumerous\u201d red flags that may have led to\u00a0 Bernard Madoff\u2019s $65 billion Ponzi scheme and never did a\u00a0 \u201cthorough and competent\u201d probe despite complaints dating to\u00a0 1992, a federal watchdog has concluded. The U.S. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[15781,1951,45,35],"class_list":["post-11664","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-inconsistencies","tag-red-flags","tag-regulators","tag-securities-and-exchange"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11664"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11664\/revisions"}],"predecessor-version":[{"id":11667,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11664\/revisions\/11667"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}