On May 5, 2006, just three days prior to Dusty Foggo's resignation as the CIA's executive director, CIA Director Porter Goss resigned. On the same day that Goss resigned, President George W. Bush signed an order exempting publicly traded companies from accounting and disclosure procedures, required under the 1934 Securities Exchange Act, for national intelligence reasons. Then-Director of National Intelligence John Negroponte was delegated the authority to exempt companies from compliance with the SEC law.

What Bush did with one stroke of a pen was to exempt companies like Stanford Financial Group, Bernard L. Madoff Investment Securities LLC, American International Group (AIG), and other companies linked to U.S., and, in the case of Madoff, Israeli, covert intelligence activities from normal oversight and regulation by the SEC.

[onlinejournal.com]

Good times!

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Former funds manager Harry Markopolos told a House Financial Services subcommittee on Feb. 4 that Madoff had cheated some extremely dangerous figures out of millions of dollars.



Mr. Madoff was running such a large scheme of unimaginable size and complexity, and he had a lot of dirty money," Markopolos testified. "Let me describe dirty money to you. When you're that big and you're that secretive, you're going to attract a lot of organized crime money, which we now know came from the Russian mob and the Latin American drug cartel. When you're zeroing out mobsters, you have a lot of fear. He could not afford to get caught, because once he got caught. . . ."

As his research continued over a 10-year period, Markopolos found that Madoff's operation rivaled the infamous BCCI scandal of the 1980s and 1990s. In addition to his association with Russian oligarchs and Colombian drug lords, Madoff was also linked to high-society stockbroker Robert M. Jaffe (now under investigation by Massachusetts security regulators and linked to New England mobster Gennaro Angiulo), 
Cayman Island money launderers, and corrupt pro-Israel financiers Sy Syms and Jacob Merkin.


Syms ran billions of dirty money through the Israeli Discount Bank of New York, while researcher Wayne Madsen wrote on January 14:

 "Madoff is suspected of transferring much of his ill-gotten gain to Israeli banks, including one, Bank Leumi, that Madoff associate J. Ezra Merkin bought from the Israeli government when Ariel Sharon was prime minister and current PM Ehud Olmert was finance minister."



Government regulators refused to act. "The SEC had enough to get Madoff," Markopolos said. "I drew them pictures. I gave them a road map. I told them what questions to ask and who to phone."



While hundreds of people lost their life savings, Wall Street continued its "code of silence." In turn, the banking cartel's elite pressured their subordinates to turn a blind eye.

Markopolos said the SEC didn't listen to his warnings because, "they're too in-bed with the large derivative traders and investment banks. People lost money because they had faith in government."

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