Given that Bernie Madoff supposedly stole billions of dollars, nobody knows where the money went and the Madoff family ran the business, you'd think the DOJ and the SEC would be doing everything possible to keep the Madoffs and their money under lock and key.

Wrong.

Peter Barnett Madoff, Bernie's brother, is running around free as a bird and, for some reason, the NY media is not interested in the comings and goings of Bernie's brother. No profile in Bloomberg News or the WSJ, no speculation about his money, no nothing.

Hello? Peter Madoff is the chief compliance officer at Bernard L. Madoff Investment Securities LLC and he has been in business with Bernie since at least 1969.

Forty fucking years of working side by side with Bernie and Peter never guessed his brother was a crook? Unless Peter Madoff has an i.q. of  50 or less, he knows his brother is a crook. He's one, too.

The most recent Madoff Form ADV is available at the SEC Investment Advisor Search website.  Bernie's electronic signature on page 29 is dated 1/8/08 which presumably is the date the report was filed.

The report is false and that should matter.

Top of Form ADV:

False statements:

Item 5 C. To approximately how many clients did you provide investment advisory services during your most-recently completed fiscal year?

Reply: 11-25

Item 5 F. (1) Do you provide continuous and regular supervisory or management services to securities portfolios?

Reply: Yes

Item 5 F. (2) If yes, what is the amount of your assets under management and total number of accounts?

Reply:
US Dollar Amount: $17,091,649,696.00
Total Number of Accounts: 23

Peter Madoff, Chief Compliance Officer, knew that information was false. The bankruptcy trustee is sending out claims forms to 8,000 Madoff investors.

Under Schedule A, Bernard L. Madoff is listed as having been Sole Member/Principal since 1/1/01.  Peter Madoff is listed as having been Director of Trading/Chief Compliance Officer since 1969. Both Bernie and Peter are listed as control persons.

If the trading and the investment arms of Bernard L. Madoff Investment Securities LLC operated under the same corporate umbrella, Peter Madoff had oversight responsibility for the investment arm's trading activity including the non-existent foreign exchange activity.  

I'm curious about what changes were made to the corporate structure of Bernie's business around 2000. Bernard L. Madoff Investment Securities LLC was only registered in NYS on 12/4/00. What name did Bernie operate under before then?

Wealthy and sophisticated people like Bernie Madoff don't just break down one day and confess to running a multi-billion dollar Ponzi scheme. Maybe his sons did report Bernie to the FBI but it was part of an act set up to distract the public's attention away from the obvious - Bernie Madoff's family had to have been in on the fraud all along.

The Madoffs met with their high-priced and high-powered attorneys long before last month about how best to give it up. The Madoffs, I'm sure, have the goods on a lot of crooks on Wall Street and leveraged the information to their advantage.

Maybe the Bush administration came to an agreement with the Madoffs whereby Bernie takes the rap for the fraud, goes to prison for a few years and the rest of the Madoffs are off the hook and keep their money.

I wouldn't be at all surprised if Chuck Schumer and Joe Lieberman helped broker the deal for the Madoffs. In fact, I wouldn't be at all surprised if Schumer pushed for Michael Mukasey to be AG so Mukasey could minimize fallout from the Madoff scandal.

No one in NY or DC wants to shake investor confidence in Wall Street by telling the investors the truth about corruption in the US financial markets. Bernie, Peter and the rest of the Madoffs are counting on it.