Wednesday, February 04, 2009

WSJ Knew About Madoff Failed to Investigate

Not only did Chris Cox, head of the SEC, ignore Madoff, so did the Wall Street Journal, according to Harry Markopolos.
This comes from Gary Weiss, an editor at Conde Nast.
Markpolos says as follows:

[Pat Burns, communications director at Taxpayers Against Fraud] put me in contact with John Wilke, senior investigative reporter for the Wall Street Journal's Washington bureau. Mr. Wilke and I would become friends over the next three years. Unfortunately, as eager as Mr. Wilke was to investigate the Madoff story, it appears that the Wall Street Journal's editors never gave him approval to start investigating. As you will see from my extensive e-mail correspondence with him over the next several months, there were several points in time in which he was getting ready to book air travel to start the story and then would get called off at the last minute. I never determined if the senior editors at the Wall Street Journal failed to authorize this investigation.
According to his timeline, he contacted the Journal in December 2005. The emails to which he alludes can be found here.

Isn't that something. Did the Wall Street Journal help protect the greedy? Read it all here.
Markopolos offered to go undercover:

Complete list of those ripped off by Madoff.