Rep. Gary Ackerman (D-N.Y.) attacked SEC officials testifying before the House Financial Services committee for failing to detect Bernie Madoff’s $50 billion Ponzi scheme on Wednesday.
Nicholas Cosmo, the Long Island man accused of running a $370 million dollar Ponzi scheme, remains jailed following a bail hearing today.
As Bernard Madoff awaits his fate inside his Manhattan penthouse, he is getting a new crew to keep him safe.
Should the SEC be hounding Apple about the CEO's health disclosures when there are so many other things wrong with Wall Street?
Several dozen employees, who work in the legitimate branch of Bernard Madoff's firm, are being laid off, according to The Wall Street Journal.
When it comes to Apple and Steve Jobs' health disclosures, indeed any perceived cover-up, it all comes down to what was known, and when. Easy questions to ask, but harder questions to answer.
Don't think these double-strength funds equal double the profits. As we've found out, that's just not the case.
The Mad Money host offers suggestions to the incoming SEC chair on how to deal with these market-damaging funds.
The embattled money manager claimed returns of as much as 12% a year. That's not what we found.
The regulator has no excuse for missing the alleged $50 billion fraud, Cramer says.
The investigations into Bernard L. Madoff are expanding into offshore tax havens, the New York Times reported.
Not only do they hurt the market, but they're virtually useless to their investors.
Eric Swanson received a startling call last Thursday from his wife, Shana D. Madoff, who said that something was terribly wrong. Officials from the Securities and Exchange Commission and the Justice Department had swooped down on the offices of Madoff Investment Securities, where Ms. Madoff was the compliance lawyer, seizing records and asking pointed questions as they began investigating one of the largest frauds in Wall Street history.
As the Securities and Exchange Commission begins an internal examination into how it missed the red flags of one of the largest frauds in history, it will inevitably discover that Bernard L. Madoff was a Wall Street pioneer who over the last 20 years alternately impressed and infuriated the agency’s top policy makers, the New York Times reports.
Cramer's giving out an award for the market's top decision-maker.
Securities and Exchange Commission Chairman Christopher Cox has asked the agency's inspector general to investigate the SEC's conduct with regard to the alleged Ponzi-scheme linked to money manager Bernard Madoff, CNBC has learned.
Cramer offers hard proof that bear raiders operated unchecked in their effort to profit from the American financial system's near collapse.
Many of those who say they were victimized by long-time investor Bernard Madoff's alleged "Ponzi" scam are up in arms that the Securities and Exchange Commission, Wall Street's top cop, didn't crack down on his activities sooner.
The list of investors who say they were duped in one of Wall Street's biggest Ponzi schemes includes some of the world's biggest banks and hedge funds, the super rich and the famous.
In the wake of the Madoff scandal, former SEC commissioner Laura Unger called for SEC reform.