Bad-Ass Rep. Gary Ackerman rips the SEC, calls them ‘deaf, dumb and blind’
While the American people are getting PWNd by jet-loving corporations, and regular Americans pay sales tax on every ‘human needs’ purchase but speculators spend billions on Credit Derivatives and don’t pay a dime of sales tax… there is ONE GUY who speaks for American Taxpayers, Representative Gary Ackerman blew a gasket at the SEC who utterly failed at multiple chances to investigate Madoff and his $50 billion dollar ponzi scheme.
Best part: Ackerman grills Linda Thomsen (SEC Enforcement Director) at 2:40 when she says “We began an investigation in 2006 and it was closed without action”. WHAT? Ackerman yells that the SEC only started a real investigation AFTER Madoff confessed on national TV and says ‘don’t give yourself any pat on the back for that’.
He quotes them: ‘your mission, you said, is to protect investors and to detect fraud quickly. SO HOW IS THAT GOING FOR YOU?
When he’s angry that they won’t respond, except to claim ‘executive privilege’, he points to the SEC reps (at 2:26) and says ‘who shall we start with, SEE NO EVIL, HEAR NO EVIL OR DO NO EVIL?
Ackerman’s righteous anger would be funny if it weren’t so damn tragic, our economy and world economies on the brink, ignored by the people whom we trust to protect us, now hiding behind the veil of ‘executive privilege’ because they know they’ve screwed us.
Man, the SEC should be fired for betraying the trust of the American people.
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