First few Article Sentences
IT’S OFFICIAL!
Bernard Madoff is now our guest at a Federal institution for the next 150 years. The litany of abuse and tales of woe will be told for years to come. And it didn’t have to happen. Many knowledgeable professionals knew Bernie’s results were unreasonably high and unsustainable. Harry Markopolos, an investment professional in Boston, began his effort to uncover the Madoff scam in 1999.
It took almost ten years for the Madoff pyramid to be brought down. Not by the Securities Exchange Commission (which ignored Harry’s repeated efforts) but by a market melt-down and redemption demands from offshore investors. The house of cards collapsed upon itself – not through the efforts of our regulators and criminal justice system, but through simple greed and gravity.