Comments on: No One Would Listen by Harry Markopolos http://tomorrowbydesign.com/?p=123 "The unexamined life is not worth living." - Socrates Wed, 19 Oct 2011 04:11:12 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Linda Carnelle http://tomorrowbydesign.com/?p=123#comment-662 Wed, 19 Oct 2011 04:11:12 +0000 http://tomorrowbydesign.com/?p=123#comment-662 Excellent account of the efforts of Harry Markopolos and his team in uncovering Bernie Madoff’s fraud and then trying to expose him and get the government to act. The book is well written and documents the the abysmal failures of an SEC relying too heavily on lawyers and accountants who lack the sophistication to understand how the investment industry works and the investment solutions the industry markets to investors.

Harry’s account of when Noelle Frangipane, a member of the SEC’s Inspector General’s team investigating the SEC’s failings, broke down and cried was indeed a particularly human moment and an account I’m glad Harry put in the book. There are people at the SEC who care. The agency clearly lacks investment professionals and people with investment industry operational experience. Lawyers and accountants have their role, but they are not trained as investment professionals.

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