Frankenstein Government has a great post. Here is the back story. Did he figure no one would find out about this. Is there no moral compass in the Obama administration? I bet they start dropping like flies before any hearings.
The trustee trying to recover money for victims of Bernard L. Madoff’s infamous Ponzi scheme is trying to recoup more than $1.5 million of Madoff payouts from the family of David M. Becker, the general counsel of the Securities and Exchange Commission.Washington Post
Now Frankenstein’s thoughts on the matter:
I want you to stop and think about this for a moment. The fucking SEC General Counsel was invested in Madoff’s Fund??? And Madoff went uninvestigated for 10 years???
Please tell me what IF ANYTHING, qualifies as a conflict of interest?? This guy stands to lose 1.5 million profit he got from Madoff?? Turns out that this piece of shit, served as General Counsel to the SEC from 2000-2002. He was rehired in 2009 shortly after Madoff was arrested. He would have had all of this time to publicly disclose that he inherited profits from Madoff and certainly before beginning his second tour of duty at the SEC. Even the idiots at the SEC might have run a little scared. But hell, who knows? Here is the story of the poor sap who spent 10 years trying to expose Madoff without success. Go figure.
On February 1st, a seemingly routine news report that David Becker, the SEC’s general counsel, is somewhat abruptly leaving his position to return to unspecified “private sector” employment.
Today, the Brits break the news story on the reason: Becker’s parents and probably him apparently made $1.5 million investing with Bernie Madoff, a small time ponzi architect (small time compared with the US government, that is), and the bankruptcy trustee is suing Becker to get it back. Madoff was one of the SEC’s most spectacular failures. He operated for years without the SEC doing anything about him, even after repeated and detailed reports to the agency. more: Strike Lawyer
Read the full story here at Frankenstein Government