January 10, 2010

An Unknown Hero You Need To Know

The dots connected beautifully for Harry Markopolos? Who? He's an unknown hero that you need to know.

Why do you need to know? Follow the dots.

DOT #1

Back in 1999 Markopolos tried to flag the Madoff Ponzi Scheme, even though he feared for his own life or at least his career at the time.  But Markopolos didn't give up and continued to work on his effort to let the SEC know that the Madoff numbers just weren't possible.  In a memo he wrote the SEC, he called the Madoff Hedge Fund a Fraud.

DOT #2

Eventually, in February 2009  he testified about Madoff before Congress.  He testified that he had also, in 2005 sent his documents on Madoff to the now disgraced governor, but then Attorney General Eliot Spitzer, known for taking on white collar criminals.  Spitzer never investigated Madoff.  Why? Spitzer had money invested with Madoff's funds.

Those two points alone make Markopolos a national hero.  He investigated fraud and corruption like say the SEC and others should have been doing.  His efforts prove that you don't need a big beaurocracy to solve a problem, or investigate one.  His efforts, at personal risk, to expose big time corruption help to clean up the business community, and give the upstanding parts of the community a fairer shake in business and from the public.  Business is not bad, bad business, illegal activities are bad business.  Risk, without reward, because it's right.  The rule of law is a good thing, in the business world too. And Markopolos knew it.  He fought for a decade to expose the problem.

But then there's also -

DOT #3

Politically, Markopolos is well, apolotical.  He's a third party guy.  He's voted for Nader and Perot but not out of a sense of left or right he believes both major parties are flawed.  While I disagree with his premise, he's apparently very firm about not aligning with either party.  It's evident in this quote (emphasis added),
 "I'm apolitical. I support all third party candidates. I think they have a voice that needs to be heard, I wish America would listen to voices outside the two major parties. I think it is time for change."
It was said AFTER Obama became President, in April of 2009.  Like I said, I don't agree with him on the Republican party - not yet - but you have to admire what he did and his convictions, which are understandable after banging his head against a bunch of brick walls for a decade on the Madoff Ponzi scheme.
Now you know.

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