Harry Markopolos

“ SEC lawyers did not understand derivatives…they did not know the math. They were lawyers and they were thinking like lawyers. They ran away from the big cases! SEC did not have financial specialists. The SEC is financially illiterate. Replace the senior staff…they can’t be young people in their twenties and thirties. That’s not what you need! You need older folks who already had a career in finance and made enough money to last a lifetime. — Harry Markopolos during Congressional hearing on Madoff and why SEC morons let him go on for so long