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consider the strange story of Harry Markopolos. Mr. Markopolos is the former investment officer with Rampart Investment Management in Boston who, for nine years, tried to explain to the Securities and Exchange Commission that Bernard L. Madoff couldn’t be anything other than a fraud. Mr. Madoff’s investment performance, given his stated strategy, was not merely improbable but mathematically impossible. And so, Mr. Markopolos reasoned, Bernard Madoff must be doing something other than what he said he was doing.
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Read the below article in full. It is a fantastic run down of last years financial issues and some of the root causes around them.
Op-Ed Contributors - The End of the Financial World as We Know It - NYTimes.com
(via fred-wilson)
