"We go for these effervescent leaders when what's really needed is a dull, focused, plodding [person] building effective groups and organizations,"
Monday, November 30, 2009
Sunday, November 29, 2009
This from the WSJ: The public has every reason to ask why they felt the need to rig the game if their science is as indisputable as they claim.
And this from Telegraph.uk: Our hopelessly compromised scientific establishment cannot be allowed to get away with a whitewash of what has become the greatest scientific scandal of our age.
Sunday, November 22, 2009
Friday, November 13, 2009
Two former computer programmers for convicted Ponzi scheme operator Bernard Madoff were arrested and charged Friday with creating computer programs that helped Mr. Madoff hide a massive fraud from regulators for more than 15 years.
The article reported that there is evidence that the two computer programmers knew what they were doing was fraudulent and received compensation to keep quiet.
Jerome O'Hara and George Perez, who began working as computer programmers at Bernard L. Madoff Investment Securities LLC in the early 1990s, were charged with conspiracy, falsifying books and records of a broker-dealer and falsifying the books and records of an investment advisory.
Wednesday, November 11, 2009
Thursday, November 5, 2009
Tuesday, November 3, 2009
Today, the 50 year old auditor decided to plead guilty to "securities fraud, investment adviser fraud, making false filings with the Securities and Exchange Commission, and obstructing or impeding the administration of the Internal Revenue laws."
While prosecutors argue that Friehling must have known that Madoff was pulling off the largest Ponzi scheme ever, Friehling is claiming: "At no time was I ever aware Bernard Madoff was engaged in a Ponzi scheme."
Personally, I believe Friehling had no idea that Bernie was committing fraud. However, that does not excuse him from what might be considered constructive fraud and was surely gross negligence on his part. I believe Friehling was so over his head in trying to perform that audit that he should have never taken the engagement. .
No doubt Bernie paid a handsome fee to his auditor just as he did to his investors. Too bad Bernie was giving away other people's money!