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The media says financial services is one of the most regulated industries in America. If that is true, how do you explain headline after headline […]
60 Minutes’ Steve Kroft interviewed Michael Lewis, author of the new book “Flash Boys” that documents how Wall Street has rigged electronic trading to benefit […]
Companies raise billions of dollars each year by selling private placements. Private placements are non-public offerings that are exempt from registration under the federal securities […]
A little over five years ago, Bernie Madoff confessed that for decades he had been running a massive Ponzi scheme. February 4th marked the 5 year anniversary of the testimony of Harry Markopolos before the U.S. House of Representatives Committee on Financial Services. Markopolos spent eight years repeatedly trying to prompt the SEC to take action against Madoff, which it never did.
A little over five years ago, on December 10, 2008, Bernard Madoff’s sons informed law enforcement authorities that their father confessed to them that he had been running a massive Ponzi scheme for decades. Madoff’s confession was prompted by the massive calls for redemption triggered by the calamitous events in the financial markets in late 2008 and the obvious impossibility of luring new money into his Ponzi scheme. Importantly, Madoff confessed his Ponzi scheme when it no longer functioned. It was not a case cracked by regulatory or law enforcement authorities. […]