How madoff was discovered - has
Bernie Madoff's legacy as one of Wall Street's most notorious Ponzi schemers will outlive him — and the lessons regulators learned have implications for policymakers today. They needed to show a lot more skepticism. No major new laws or rules were enacted after the scam was discovered, but it prompted introspection among the country's securities regulators to figure out how Madoff got away with such a huge crime and for so long. The SEC published a list of the reforms it undertook: improving internal controls, enhancing auditing procedures, increasing resources for investigation and investing in more staff and specialized training. John Coffee, a professor at Columbia University Law School, said that although the scandal prompted the SEC to prioritize the investigation of Ponzi schemes, less has been done to mitigate the broader risk investors face. Barbara Roper, investor protection director for the Consumer Federation of America, said, "There are a lot of lessons that should have been learned from the Madoff Ponzi scheme, some of which may have been learned better than others. Roper said the scandal was a cautionary tale for regulators and investors not to suspend their skepticism. Former White House chief ethics lawyer Richard Painter, a professor of corporate law at the University of Minnesota, blamed the concept of "affinity fraud," a con man's tactic of ingratiating himself with a particular demographic or community to gain their trust. I believe the problem was enforcement. We didn't need any new rules in order to prevent Bernie Madoff from happening.Agree: How madoff was discovered
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how madoff was discovered.
Sign up for our PoliticsNY newsletter for the latest coverage and to stay informed about the how madoff was discovered in your district and across NYC. As cold or unfeeling as it may sound, another link to all that was once wrong with the New York Mets is now gone. Infamous Ponzi schemer, Bernie Madoff, died at the source of 82 on Wednesday morning in federal prison, where he was serving a year sentence for securities fraud discoverer other charges in which he stole billions of dollars from clients over the decades.
That was why a club that plays in the largest sports market on the planet was being run like it played its games in Kalamazoo instead of New York City. So, while it may sound brutal how madoff was discovered heartless, it was only fitting that Madoff — the man who stole so much from so many — departs this planet after the new era of the Jadoff has dawned.
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He covers all eight major professional sports teams in the Big Apple, most notably the Mets and Islanders. By Joe Pantorno 0. Just another step farther away from one of the darkest times in franchise history. Home Pros Find a pro. Eat it. Drink it.
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