Harry Markopolos told the truth about Bernie Madoff. No one listened. Harry Markopolos put together a 29 page document proving that Madoff was a fraud and a ponzi. The SEC didn't understand the vocabulary. The SEC needs a bailout.
I read the Columbia Journalism Review every few days. Here are their comments on the Markopolos interview last night on 60 minutes. They say that it's the most important story of the week. The interview is excellent.
Key snip: It took me five minutes to know that it was a fraud. It took me another almost four hours of mathematical modeling to prove that it was a fraud. Harry Markopolos on Bernie Madoff’s Ponzi scheme.
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