Thursday, March 11, 2010

No One Would Listen - A Story of U.S. Government Corruption and Incompetence

Hear a discussion with two financial analysts who tried to sound the alarm about Bernie Madoff's activities but were ignored by your federal government.

Madoff often bragged about his cozy relationship with regulators... (which allowed him to do whatever he wanted). Many of the holes in the financial regulatory system still remain. And it's a symptom of a wider problem of corruption in government that Americans have not only grown to tolerate, but to expect. There was the muzzling of Brooksley Born, former chair of the Commodity Futures Trading Commission who tried to warn the nation about a looming financial crisis; The FDA being corrupted and controlled by the drug companies; and even oil industry execs openly providing gifts & having sex with federal regulators from the Interior Department in exchange for less stringent oversight.

1 comment:

rikyrah said...


I have been asking for months about the ARRESTS.

there is no way that you steal 50 billion dollars..

without help from BANKERS...

and I don't mean Laquisha and Maria Louisa the tellers. I don't even mean their boss. or even the boss of their branch.

for this to happen on this scale, we are talking about high level cooperation.

same for the FEDS.

not the new employee right out of graduate school. or his boss. or his boss. or even his boss.

the level of lack of public responsibility had to come from HIGH LEVELS..