New York Congressman Gary Ackerman verbally whipped members of the Securities and Exchange Commission Thursday in Washington for not uncovering the alleged $50 billion dollar fraud perpetrated by Bernard Madoff. This after whistleblower Harry Markopolos testified that he supplied the Commission loads of information that a huge Ponzi scheme was underway.
High-ranking SEC officials sat quietly and stared blanking at Congressman Ackerman as he went off on a tirade claiming they did nothing to prevent this and were useless in providing answers to why this took place.
"You couldn't find your backside with two hands if the lights were on. You have totally failed in your mission. Don't you get it?" he asked.
As SEC members squirmed in their seats he continued, " What happened here? That's a question. Do we start with hear no evil, see no evil or do no evil? Take your pick."
When SEC members tried to answer that they were unable to provide specifics due to the investigation Congressman Ackerman shot back, "If anybody made the case better than Mr. Markopolos, and I didn't think anybody could, about you people being completely inept, you've made the case better than him."
NY Congressman Gary Ackerman Erupts At SEC
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