Third Anniversary Update, Part Three: Year End Media Headlines
Note: House Hearings on HR757 tentatively scheduled for week of March 5th.
Stay tuned….
Media Highlights:
Summary of Where We Stand:
Message from the NIAP President:
While the Courts have yielded mixed results at best in 2011 for Madoff victims, the Media has become increasingly supportive and is helping to drive public opinion and action in Congress. This is the third part of a Three Part Anniversary Update. If you haven’t already done so, I encourage you to read Part One – which focused on legislative action, and Part Two – focused on the Courts.
The Media
Victims should take heart in their success with the media over the last year. Increasingly, the media has not only provided far more balanced reporting, but has been increasingly supportive of the Madoff victims’ perspectives. Perhaps more importantly, the media is making impact in DC. The press’ attention to regulatory failures and inaction, as well as to some egregious actions of the Trustee, keeps the plight of the victims on the radar of Congress, regular investors, and not to be discounted, the courts. NIAP worked with the media to expose unfettered behavior and outrageous fees of the Trustee, the SEC’s multiple failures, the GAO investigation, among other issues. Many publications including the Wall Street Journal to the Washington Post have featured key pieces in support of NIAP’s member’s issues, thanks in large measure to the work of the NIAP media relations efforts.
Although most of the work done behind the scenes to educate the media does not result immediately in coverage, here is a partial list of some of the major publications and media outlets over the past year that have responded to our efforts: Washington Post (“Madoff Victims Enraged at SEC’s Decision”), Wall Street Journal (“GOP Lawmaker Urges SEC to Wait”), Bloomberg (“Defendant’s Judge Shopping Perverts Law”), Daily News (“Feds to Investigate Picard’s Clawback Suits”). There have been numerous other placements with the New York Times, USA Today, CNBC, Fox Business News and many others.
To see NIAP’s Media’s Top 15 for 2011, go to the NIAP website: www.investoraction.org. For more information on the latest media “hits”, please go to www.protectyourinvestments.org and sign up for our Daily News Updates.
Our DC and NY media professionals will be very important as we move forward to the legislative hearings as well as to keep a steady eye and attacking hand on nefarious behavior by the Trustee and SIPC. Media and grassroots efforts keep the plight of Madoff victims in the national conversation and on Congress’ radar. There is no doubt that the Trustee will use the upcoming trials on clawback to recast his messaging against Madoff victims. As such, our media team stands ready to rebut the eventual onslaught of misinformation and erroneous claims.
Finally, the highly publicized Stanford and MF Global failures have drawn considerable attention from Congress, as hearings continue. While these events are not directly related to the Madoff debacle, they are serving to remind Congress of the weaknesses in and failures of the regulatory apparatus. In many related articles and discussions, the Madoff scandal is brought up. Possible synergies between victims of these scandals can, and hopefully will assist with efforts in Congress.
The Three Year Bottom Line
So where do we stand? For most all Madoff victims, their best shot remains in Congress. Though the legal process will be long, plodding, costly, and uncertain, NIAP will continue to remain active in the legal arena fighting for victims. Additionally, we are making slow, but steady progress in DC, and NIAP members and Madoff victims should be aware that positive steps on multiple fronts are taking place. As I’ve said before, this remains a marathon, and not a sprint. We are fortunate to have one of the most powerful members of Congress spearheading our efforts, while legal minds continue our efforts in the courts. The good news is that if we can continue these efforts, I’m convinced we will have success – and once the Congressional hearings are underway we will be calling on all of you to assist in this effort.
The bad news. We all want NIAP to succeed in Congress, the media and the courts. However, without funding for our lobby, media relations, administrative and grassroots efforts our chances for success – particularly in Congress and the media — are dramatically reduced. We’ve come this far on the backs of tremendous pro-bono energy by NIAP, its advisors and experts, donations and grassroots help from folks like you. Let me be clear: resources are not currently available to see this effort to a successful resolution. We need sizeable prospective funders to join our Funders Group, general donors capable of making modest donations, and volunteers willing to commit now. Madoff victims cannot afford the luxury of expecting others to carry the ball as they stand by.
If you’ve not already become a NIAP member, please do so. It will entitle you to updates, daily news, as well as important action alerts for Madoff investors. And please be prepared to step up to the plate once the hearings are underway – to write letters, make calls, spread the word.
Good intentions alone will not lead to success, and there is no reason not to step up and assist with this effort. Our attorneys have reiterated that there is no danger for victims assisting NIAP or participating in a grassroots effort.
In a great effort to help us through, we will shortly be undertaking a fundraising campaign. Please welcome calls from volunteers and others who may be reaching out on our – your – behalf. Our new fundraising plan should make contributing an easy and affordable process.
We can succeed, but we need everyone’s help – investor victim or not. If you can give, please do so. If you cannot, please commit now to assist us – by email or call – for a grassroots effort to be kicked off as the hearings begin. (Contact information below). Once again, I ask all to unite in support of this effort – a fractured effort reflects poorly on the victims and this initiative. We welcome everyone’s help.
Please forward this on to friends and family members as well.
Click here for more information, and once again, please check out our new investor action center which will be central to our upcoming grassroots letter writing campaign.
Thanks so much,
Ron Stein, CFP
President
CONTACT INFORMATION:
Please commit to assist us in whatever way you can!:
Email us at: admin@investoraction.org
Call us at: 631-425-0770
