Helen Chaitman Congressional Testimony March 2011

As Congressman Garrett knows and despite anything you may believe to the contrary, this CAN happen to you! If you'll just take 5 minutes of your time, you'll finally understand how Madoff victims have continued to be victimized by the SIPC Trustee and the SEC for almost 2 ½ years. This is the Madoff victim story that the NY Times and others in the Trustee's media circle don't want you to know, as told by Helen Davis Chaitman, while testifying before congress at a hearing titled "Who's Watching Wall Street's Watchdog?" Finally, the simple truth about innocent victims caught in the middle of this massive web of deception, those who WEREN'T earning interest at rates "too good to be true", just responsibly saving for retirement, relying on brokerage statements and trade slips to obtain mortgages, pay income tax, plan their future and manage their estates. These are people just like you, OR, perhaps they were just like David Becker, general counsel to the SEC, who didn't believe it was a conflict of interest to advise the Madoff Trustee as to how to pay victim's claims. As Mary Schapiro, Chairwoman of the SEC testified, he "inherited his mother's account and liquidated it many years ago". Neither believed it would even be an issue...

Category:

News & Politics

Tags:

• Scott Garrett HR757
• SIPC
• David Becker
• Scott Garrett
• H.R. 757
• Irving Picard
• Congressional Hearing
• Mary Schapiro
• Darrell Issa
• Bernard Madoff
• BLMIS
• Insurance Fraud

[JazzKeyboardist1]

the net winners intrique me, Imagine a madoff imposter robs me and a bank and gives the money to an innocent lady on the street, I guess the net winner lady thinks the money belongs to her,,, just because your madoff statement says you had sipc insurance, does not mean you have it, i don't think madoff paid the sipc premiums to get the insurance, i could be wrong

[BeethovenIsGod]

Just like Madoff these tools wanted everything for NOTHING

[markbender49]

How eloquently spoken; now, will anyone actually come "up to the plate" and do the right thing? Shame on SIPC.

[sgeov]

Helen Chaitman is brilliant and hits the nail on the head.  Let's hope that the court will act responsibly since no one can count on SIPC and the SEC.