The SEC and Bernie Madoff

Unless you've been spending all your time on the RBC chat, you've heard of Bernard Madoff. One number should remind you - $50 Billion.

Here's a letter (PDF) submitted to the SEC on November 7, 2005 by Harry Markopolos (who once worked for a rival of Madoff). Markopolos knew something was fishy with Madoff but the SEC completely dropped the ball. Reminds me of Alan Greenspan's recent testimony before Congress when he conceded, “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief.”

Our tax dollars hardly at work.

Here in New York, Gov. Patterson's plan is to close the $13.7 Billion budget gap is to tax pretty much everything that moves - and doesn't move. His idea includes $7.2 billion of spending cuts and $4.1 billion from new or increased taxes and fees. Notice anything missing? How about efficiency? Ever wonder why improvement in government language never involves reengineering?

I shudder to think how the traditional thinking companies are going to recruit talent here in New York State. Mandates of no telecommuting will just cause high potential but budget conscious people to look elsewhere for companies who can help their employees save money. No business casual will require people to buy more expensive business clothes (don't forget that the taxes will go up on these items).

Without cost sharing programs, real salaries will decline putting more pressure on more people.

Recruiters, speak to those in charge and find ways to open their eyes...

Comment by Jeff Newman on December 18, 2008 at 4:56pm: One thing about business casual clothes is the Dry Cleaning expenses. I am a big fan of S&B clothing warehouse because I am, shall we say, frugal? Also, since the days of z-cacaricci I haven't been particulary concerned with name brands. I have probably spent much more on cleaning those pants then what I paid.

Comment by Steve Levy on December 18, 2008 at 5:13pm: dry cleaning taxes will increase as well..

Comment by roslelin on December 19, 2008 at 12:24pm: Donation For Christ

I am Mrs Roslelin Usman a nationality of ANGOLA. I am married to late Mr. Edward Usman who worked with ANGOLA embassy in Ivory Coast for nine years before he died in the year October 2006. We were married for twenty years with a child. He died after the illness that lasted for long four days.

Before his death we were both born again Christians. When my late husband was alive we deposited the sum of $ 3.5 Million USD with one of good banks here in Cote d'Ivoire. Presently, this money is still with the bank. Recently my Doctor told me that I would not last for the next three months due to my cancer problem. Though what disturbs me most is my stroke. Having known my condition I decided to donate this fund to church or better still a Christian individual that will utilize this money the way I am going to instruct here in.

I don't want a situation where this money will be used in an ungodly manner. Hence the reason for taking this bold decision. I am not afraid of death hence I know where I am going to. I know that I am going to be in the bosom of the Lord. Exodus 14 VS 14 says that the lord will fight my case and I shall hold my peace. I don't want any of my husband family relatives to receive this money; they poisoned my late husband, because he left their muslin religion and accepted Christ, Because of their wicked heart and their ungodly.

With God all things are possible. As soon as I receive your reply I shall give you the contact of the Finance/bank. I will also issue you a letter of authority that will empower you as the new beneficiary of this fund. I want you and the church to always pray for me because the lord is my shepherd.

Remain bless in the name of the Lord

From Mrs.Roslelin Usman.

Comment by Steve Levy on December 19, 2008 at 12:43pm: Hey JD, I think I found member number 15,000!

Comment by Jeff Newman on December 19, 2008 at 12:47pm: I sent my social, CC info etc.. I'll let you all know when the check clears.

Comment by Maureen Sharib on December 29, 2008 at 10:18am: We are more than our investments. We are more than the year-to-year or day-by-day changes in our net worth. We are what we do for charity. We are how we treat our family and friends. We are how we treat our dogs and cats. We are what we do for our community and our nation. If you had $100 million or $100,000 a year ago and now you have a lot less, you are still the same person. You are not a balance sheet, at least not one denominated in money, as was explained to me recently.

More here (sign-up, if required, is FREE).
******
Looking for information on phone sourcing? Read through the T and TH Phone Sourcing Classroom Chats over on the MagicMethod network. They’re listed in the Blog Posts section and are identifiable by the yellow talk bubble that says “MagicTalk”.