Bernie Madoff, what's the "rest of the story" ?

[screembloodymurder]

IMO, there's a connection between our economy and Iraq and I'm not talking about the obvious waste of our treasure. I suspect (pure speculation) that Madoff wasn't working alone. I think he was working with and for our own government, probably under the CIA. Why did the SEC ignore Markopolos' 21 page letter that spelled out, in detail, what was going on? And why destroy the records?

"Mr. Markopolos, a private citizen, uses his personal time and energy over a seven year period to document a fraud occurring under the nose of the SEC that could impact the international reputation of the United States along with the financial well being of pensioners, university endowments, foundations and private investors. After losing track of the case for five years, the SEC finally gets around to investigating using taxpayers’ monies. They come up with nothing despite being given a perfect path to follow to the fraud. And their final suggestion for dealing with the investigation is to destroy the files!"

http://www.counterpunch.org/martens12222008.html

At the end of GHW Bush's presidency, there was a similar scandal involving BCCI. Among other questionable activities, the bank was used to finance illegal arm shipments to Iraq. The CIA used BCCI because the director knew Congress would never authorize the shipments.

"BCCI became the focus in 1991 of one of the largest scandals in world financial history. Due to the massive fraud and corruption at the heart of the bank, it was described as a “$20-billion-plus heist”.<3> Regulators in the United States and the United Kingdom found it to be involved in money laundering, bribery, support of terrorism,<4> arms trafficking, the sale of nuclear technologies, the commission and facilitation of tax evasion, smuggling, illegal immigration, and the illicit purchases of banks and real estate. The bank was found to have at least $13 billion unaccounted for. The bank’s relationship with underworld elements led to the nickname “Bank of Crooks and Criminals International.”

http://jontaplin.com/2009/01/13/was-bernie-madoff-a-mafia-front/

When Madoff plead guilty to "protect his family", was he worried about the prosecutors or the spooks? I find it inconceivable that a fund the size of Madoff's was allowed to produce annual reports without outside verification of the accounting... unless he was being protected from above. The whole thing stinks.

[Skink]

1. Yeah he was working with the CIA laundering money.