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Media On Trial: Did the Media Fail us with reporting Madoff? Part 2

By Steve Lombardi

Today we continue to analyse and ask why the media missed this softball and how over a ten year period there were no questions being asked in the print and electronic media.

SEC staff at Fenway Park "WOULD NOT BE ABLE TO FIND 1ST BASE" Markopolos

If you sat the SEC officials in Fenway Park for an afternoon they would not be able to find first base.

http://www.youtube.com/watch?v=zBYo-G8RePM

Markopolos RIPS SEC AND ALL SHOULD BE FIRED

http://www.youtube.com/watch?v=06vrqMJd2NQ

Markopolos identified several professionals that knew, including all those on his staff that were researching Madoff's investment group. New York and Boston SEC offices knew but were at odds as to which office was in control and whether Markopolos had the right credentials to question someone as important as Bernard Madoff. They couldn't work together; instead they allowed $50 billion dollars to be stolen. The SEC is over lawyered and is more interested in their careers.

It isn't just the SEC that was afraid of Madoff and the rest of Wall Street; the American journalists are also afraid of Wall Street and the power brokers. Instead of doing their jobs they wallow in fear and do nothing except print softball stories taken off the traditional wires. If the American media used the Internet as a tool or as a source they would still hold the reins of news. Instead they, like the Bush Administration, they are incompetent to do the job entrusted to them.

Sesame Street Explains the Madoff Scandal

http://www.youtube.com/watch?v=XJ8OjAB_e3g

Originally posted at InjuryBoard by Steve Lombardi

Full post as published by Des Moines Personal Injury Lawyer on April 28, 2009 (boomark / email).