Bernie Madoff is the former Chairman of NASDAQ, former head of Madoff Investment Securities, and is at the center of a $50 billion ponzi scheme — the largest in history.
In this clip 2007, Madoff focuses on the ruleset automation side of the business, and the benefits that brings:
“In today’s regulatory environment, it’s virtually impossible to violate rules. This is something the public doesn’t really understand. If you read things in the newspaper, and you see someone violating a rule, you say, “You know, they’re always doing this,” but it’s impossible to a violation to go undetected, certainly for a considerable amount of time.”
His website is now a bit more somber:
The Honorable Louis L. Stanton, Federal Judge in the United States District Court for the Southern District of New York, has appointed Lee S. Richards of the law firm Richards Kibbe & Orbe LLP receiver over the assets and accounts of Bernard L. Madoff Investment Securities LLC (â€œBMISâ€) as per the attached order.