Bill Posey actually said...

They had great intel, and they knew what Madoff was doing wrong for 10 years; they just refused to take any action.

Posey references the SEC's failure to act on Madoff's wrongdoing as a warning.

04/18/2012

More Bill Posey Quotes

If we had had Dodd-Frank, this would have never happened, and I don't see it.

Do you think it would be reasonable for customers to expect some clawback?

It is just incredible.

Isn't it clear that somebody is lying to the clients?