SEC Did Grill Madoff...About Whether He Was Hiring

Young, inexperienced investigators awed, missed signs of Ponzi scheme
By Evann Gastaldo,  Newser Staff
Posted Aug 11, 2009 8:59 AM CDT
Bernard L. Madoff, chairman of Madoff Investment Securities is seen on his Manhattan trading floor in this photo taken Dec. 30, 1999 in New York.   (AP Photo/The New York Times, Ruby Washington)
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(Newser) – Bernie Madoff got nervous every time SEC investigators came around, but he shouldn't have: A new book claims the regulators were so green they were awestruck by Madoff—and even asked about job openings and dropped off resumes, the New York Post reports. “They’d send kids. I think it was their first job out of school,” a secretary for the firm tells Andrew Kirtzman in his book, Betrayal: The Life and Lies of Bernie Madoff.

“No wonder they never found anything,” she continues. “They would say, ‘Can we get jobs—can we give you our resumes?’ We’d say, ‘Send them through to our offices.’” When one showed up years later after Madoff’s arrest, she told him, “If you had done your [bleep]ing job in the first place, we wouldn’t be in this position now!”