Chasing Madoff is a new documentary about the successful, long-term efforts of investigator Harry Markopolos to bring down the Ponzi porker.
At the premiere last night, fellow investigator Frank Casey said, “It was a sad game because we knew tens of thousands of people would be wiped out.
“We failed because no one would listen.
“We didn’t save anyone.
“We were mad — and we still are — that the SEC ignored Harry. We know he’s quirky, but if a guy on a corner is yelling, ‘The emperor’s got no clothes,’ you might want to take another look regardless of how quirky the call is.”
As it turned out, it’s Madoff’s victims who now have no clothes — or anything else, for that matter, except a sharp, golden ax to grind.
But Harry said that at least the whole mess has led to some reforms.
According to him, the SEC now gives bonuses to whistleblowers, and mega-corporations that used to get a “Get Out of Jail Free” card have found that it’s totally rescinded.
“Hopefully a few years from now, we’ll see some big cases,” he advised.
Until then, let’s make a pact to not invest in anything!