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Madoff Whistleblower Harry Markopolos Tells Congress FDA Is Captured!

February 15th, 2009 | Posted by CTL
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Harry Markopolos, at the Bernie Madoff Ponzi Scheme Congressional Investigation.

Congressman Alan Grayson: Are you familiar with the concept of capture when you are talking about regulation? What is that? Do you know that concept?

Harry Markopolos: Yes. It’s basically when the regulator is in bed with the industry they purport to regulate and do not regulate the industry. In fact, they consider the industry the client, not the public citizens.

Congressman Alan Grayson: And have you seen that in action.

Harry Markopolos: Yes. At the Food and Drug Administration and at the SEC.

Excerpt starts at 14:14  http://www.cnbc.com/id/15840232?video=1021435842

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This entry was posted on Sunday, February 15th, 2009 at 6:52 am and is filed under The Cause, The Dysfunctional FDA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Madoff Whistleblower Harry Markopolos Tells Congress FDA Is Captured!”

  1. 1.
    OPTIONAL
    Says:

    March 12th, 2009 at 8:25 pm

    The bible tells the rich to sell what they have and give it to the poor .It is easier for a camel to go through the eye of a needle than it is for a rich man to enter into HEAVEN .

    ALSO THE LOVE OF MONEY IS THE ROOT OF ALL EVIL . HE HAD HIS AND TOOK FROM AS MANY AS HE COULD .

     Add karma Subtract karma  error

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