60 Minutes does another servicable job covering a big financial story. As usual they haven’t uncovered anything new, but at least they’ve informed a wider swath of the public.
My favorite comment from Markopolos, when asked why the other Wall Street houses that knew Madoff’s operation was a scam didn’t blow the whistle: “because those in glass houses don’t throw stones.†Why didn’t Steve Kroft follow up on that answer. Is Markopolos saying the big Wall Street banks are themselves engaged in massive fraud?
Uncovering what kind of fraud they’re engaged in, now that would be a fantastic story.
[Video]
My favorite comment from Markopolos, when asked why the other Wall Street houses that knew Madoff’s operation was a scam didn’t blow the whistle: “because those in glass houses don’t throw stones.†Why didn’t Steve Kroft follow up on that answer. Is Markopolos saying the big Wall Street banks are themselves engaged in massive fraud?
Uncovering what kind of fraud they’re engaged in, now that would be a fantastic story.
[Video]
