While the SEC slept Madoff made a mint
Where was the Securities and Exchange Commission?the federal agency responsible for regulating Wall Street?when Bernard Madoff was allegedly pulling off a massive fraud that could leave investors with billions of dollars in losses? Experts say there were plenty of red flags that should have tipped off regulators that something was seriously amiss. Stephen Labaton, who covers regulatory issues for the New York Times, joins The Takeaway with the story.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!