Mr. Madoff and the SEC – Warm and Fuzzy?

December 17, 2008

Lately, talk among Microsoft business clients of Onsite Computer Services in New Orleans uniformly centers on the economy and the worst financial crisis since the Great Depression.  Each day brings a new economic drama to light.  The Bernard Madoff situation, in which many wealthy organizations and individuals were apparently duped in a Ponzi scheme that supposedly separated investors from $50 billion in capital, is by far the topic du jour.

Today it is revealed that the SEC received complaints regarding Mr. Madoff for the last ten years.  Now it turns out a Securities and Exchange official was romantically involved with a Madoff niece. According to the WSJ, Mr. Madoff’s niece, Shana Madoff, is married to a former SEC attorney, Eric Swanson.  Mr. Swanson worked at the SEC for 10 years as a senior inspections and examination official before leaving in 2006. Ms. Madoff is a compliance lawyer at the Madoff firm.

Thus far the true depth of the Madoff/Swanson relationship is unknown; however some may allege a conflict of interest was possible.  How can one explain the SEC’s lack of action in the face of investor complaints of Bernie Madoff for ten years?  It will be interesting to see the results of a probe of the SEC’s inaction since 1999.

Every day something new emerges in the face of our global economic situation.  Today, Bernie Madoff is credited with the scam of the century.  Stay tuned as additional scams are certain to surface as the economy’s ‘house of cards’ continues to implode.

If you’re searching for New Orleans computer service or repair of your Microsoft based system or network, then call the Microsoft specialists at 504-469-6991. Onsite Computer Services, Inc. in New Orleans

You may also be interested in Onsite Computer’s Blog.

This New Orleans On-Site Computer Service post was provided by Eli Lucas. Eli can be reached at eli@onsitenola.com. Onsite Computer serves the Microsoft computing needs of small businesses throughout the Greater New Orleans area including Uptown, Lakeview, Broadmoor, Mid-City, Metairie, Jefferson, Kenner, Westbank, French Quarter, and the Warehouse District. Please visit our website for New Orleans Computer Service

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