Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):
- SIMPLE JUSTICE (Dec. 19, 2008): What to Do about Bernie Madoff
When someone is alleged to have stolen $50 billion, it’s the birth of an industry. Previous financial felons look like pikers in comparison. So what do we do with him? - Re: THE AUDITORS (Dec. 18, 2008): If It’s Not One Thing, It’s Another – Auditors Getting Sued Over Madoff
It appears that the auditors missed a whole boatload of irresponsible lending by some very large banks, and they may experience the latest and perhaps largest, most effective litigation tsunami. - CONGLOMERATE (Dec. 18, 2008): My Madoff Nitpicks
$50 billion is a lot of money, but it is too bad that Bernard Madoff probably didn’t steal that amount. If he did, I suspect that it would be very easy to make his investors whole. - Re: THE AUDITORS (Dec. 18, 2008): 18 December 2008 If It’s Not One Thing, It’s Another – Auditors Getting Sued Over Madoff
It appears that the auditors missed a whole boatload of irresponsible lending by some very large banks, and they may experience the latest and perhaps largest, most effective litigation tsunami. - ADAM SCHWAB, CRIKEY.COM (Dec. 18, 2008): Crikey’s 2008 Business Achiever Awards
Congratulating those blessed executives and business types who shone out in a year brimming with incompetence and greed of the highest order. - THE FCPA BLOG (Dec. 18, 2008): A Spectacular Leap
Siemens’ $800 million settlement on Monday of FCPA violations is Bob Beamonesque, considering that it surpassed the existing FCPA settlement record by $755.9 million. - THE DEAL (Dec. 16, 2008): The Marketing Genius of Bernie Madoff
“Bernie Madoff was a bubble…what subprime was to banking.” - THE D&O DIARY (Dec. 16, 2008): Subprime Securities Suit Against Bank Dismissed Without Prejudice
In the latest ruling in a subprime-related securities lawsuit, S.D. Fla. Judge Ursula Ungaro granted BankAtlantic Bancorp’s motion to dismiss, with leave to amend. - SEC ACTIONS (Dec. 16, 2008): The Siemens FCPA Case: A Record Settlement And A Warning To All
The Siemens case emphasizes that the FCPA is a key area of emphasis. To root out violations, U.S. authorities will continue to team with enforcement authorities around the globe. - DEALBOOK (Dec. 15, 2008): Another View: The Madoff Scheme
By delivering what is reported to be consistent growth of 10 percent to 12 percent per year, regardless of the market environment, Madoff played on the desire of his investors for enough money to keep them in the top 1 percent of the world’s richest. - CLUSTERSTOCK (Dec. 13, 2008): The Perfect Ponzi
The reason Bernie Madoff’s gigantic Ponzi scheme lasted so long and got so huge is that it was superbly designed and executed. - THE FCPA BLOG (Dec. 13, 2008): Siemens: Systematic Global Corruption
Siemens incurs the largest FCPA penalties in history because it created a structure and nourished a culture where operating groups and foreign subsidiaries had little accountability.
