Strategic CIO // Executive Insights & Innovation
Commentary
12/16/2008
12:24 PM
Bob Evans
Bob Evans
Commentary
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Bernie Madoff On Video: 'It's Virtually Impossible To Violate Rules'

Yes, here's the guy who swindled $50 billion proclaiming on camera just a year ago that it's impossible to violate scores of SEC rules -- even though he was doing exactly that -- and that "this is something the general public doesn't understand." Read on to check out the certified brass-pair video excerpt from Madoff in an excellent post by my colleague Kerry Massaro of Advanced Trading.

Yes, here's the guy who swindled $50 billion proclaiming on camera just a year ago that it's impossible to violate scores of SEC rules -- even though he was doing exactly that -- and that "this is something the general public doesn't understand." Read on to check out the certified brass-pair video excerpt from Madoff in an excellent post by my colleague Kerry Massaro of Advanced Trading.We'll be keeping an eye on this sordid affair because it offers a profound lesson for CIOs to be ever-vigilant with regard to ethical business practices, governance, credible compliance, information security, and that big fat line separating right from wrong and miserable lies from the truth. In the link below, Kerry Massaro has put together a great package on Madoff and the impact his extraordinary misdeeds have had on the entire financial industry.

But for starters, watch the man who stole $50 billion telling us not to worry because should it ever come to pass that someone in the trading business would cross the line, the theft would be "...relatively small because of all the regulation." So remember: they say that seeing is believing, but with this guy, maybe not so much.

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