In an interview with MarketWatch, Bernard Madoff described the many ways that he says the markets are unfair to the retail investor. But that’s not all. He also laid out five steps that market regulators should take to level the playing field. Here are Madoff’s five best ideas for making the markets fair:
1.) The SEC needs more resources to protect investors.
The SEC is grossly undercapitalized and doesn’t have money to hire the right people. Basically, it’s a training ground, and by the time its people are qualified they leave for work at private firms. “They didn’t catch me because the whistleblower, Harry Markopolos, was leading them down the wrong alley,” Madoff told MarketWatch. “He was an idiot.”
More on MarketWatch here.
