Perspective
Dec. 21, 2010
Blowing the Whistle on Corporate Fraud
New whistleblower programs hope to avert future Madoff-esque financial frauds and malfeasance. By Mark Labaton of Motley Rice.
There is no satisfactory explanation for how the Securities and Exchange Commission - charged with protecting investors - failed to put Bernard Madoff out of business. Inexplicable? Yes. Inexcusable? Certainly. Yet, had the SEC been receptive to whistleblowers, it would have stopped Madoff and his partners in crime in their tracks long before they destroyed so many lives. That, of course, never happened.
The story is now well-known. Har...
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