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Former Nasdaq chairman Bernard Madoff charged with securities fraud

Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities LLC, a registered investment adviser, and former Chairman of the Nasdaq Stock Market, was arrested today and charged with one...


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Bernie Madoff's take on over-regulation on Wall Street

Some choice quotes from squeaky-clean Bernie Madoff on the trials of doing business in the modern financial system.

"Whenever I go down to Washington and meet with the SEC and complain to them that the industry is either over-regulated or that the burdens are too great they all start to roll their eyes just like our children do when we talk about the good old days."

"When you look at the scope of trading that goes on today on Wall Street and you consider the enfractions, they're relatively small. Particularly because of all the regulations."

"In today's regulatory environment, it's virtually impossible to violate rules. This is something that the public really doesn't understand. It's impossible for a violation to go undetected, certainly not for a considerable period of time."

Oh the irony. More of this on Youtube.

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Paul Penrose

Paul Penrose

Head of Research

Finextra

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