All eyes on Harry Markopolos…

February 3, 2009

Be sure to set your Tivo tonight because tomorrow at 9:30 Harry Markopolos will be testifying before a subcommittee of the House Financial Services committee.

Judging by his prepared testimony — all 65 pages of it — it should be a pretty good show tomorrow, though it won’t reflect positively on the SEC, which bears the brunt of Markopolos’ criticism. Here’s a sample from the prepared testimony: “I had to call the SEC repeatedly in order to try to move the case forward and with little or no response. This may go a long way in explaining the SEC’s long and consistent history of regulatory failures.”

The WSJ has a good summary of the testimony. Wonder if Bernard Madoff will be watching whilst under house arrest?

UPDATE: I’m live-blogging the Maddoff hearing which is very interesting over on Twitter. You can follow along here.

Image Source: Justin Lane/European Pressphoto Agency

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