13 Years?!

Posted 2009-02-20 11:24
by Karl Denninger

"We have no evidence to indicate securities were purchased for customer accounts," said Irving Picard, the court-appointed trustee overseeing the liquidation of Madoff's assets.

For thirteen years?

And Stanford Financial was allegedly under "surveillance" for fifteen years?

Yet nothing was done.

Institutional corruption in our government agencies folks. There's the proof, it is absolutely non-partisan as both parties held both houses of Congress and the Executive during that length of time yet neither party did anything about this.

And you're wondering where confidence in our markets has departed to, along with why we are staring at an all-on market crash at the present moment?

You're kidding, right?

Is your brokerage account statement real? When you click "buy" or "sell" did you really? How do you know? Your statement says you did but the industry has in fact recently phased out paper certificates - so you can't even demand to have actual paper shares of stock issued any more!

This is outrageous and we need to see government officials in jail.

I simply do not believe that there were not dozens if not hundreds of government and private officials in various agencies and firms that were not fully aware of these scams and yet did nothing.

Further, where's our so-called "press"? You're going to try to tell me that they didn't know about it - and didn't suppress it?

Pull the other one.

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