Slate Money Criminals: Bernie Madoff
Slate Money
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The SEC and Bernie Madoff
Bernie had a positive year, which is just impossible in finance. He repeatedly went to the SEC five times over eight years with a list of 30 red flags and they completely ignored him. In 2006, finally because of so many complaints, the SEC started pressuring Bernie to give them some information. The Ponzi went from $40 billion at that point to $64 billion.
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