Obama SEC nominee hired Madoff son in 2001--hope and change nowhere in sight...

"Mary Schapiro, Barack Obama's choice to lead the Securities and Exchange Commission (SEC), previously appointed one of Bernard Madoff's sons to a regulatory body that oversees American securities firms.

It has emerged that in 2001, Ms Schapiro, currently chief executive of the Financial Industry Regulatory Authority (Finra),

• employed Mark Madoff to serve on the board of the National Adjudicatory Council — the division that reviews disciplinary decisions made by Finra....

Mark Madoff began working at his father's firm, Bernard L. Madoff Securities, in 1986.

• He was the third member of Mr Madoff's family to join the business, following his uncle, Peter Madoff, and his cousin, Charles Wiener, son of Bernard's sister, Sandra. Andrew Madoff, his younger brother, followed in 1988, and Roger and Shana, children of Peter Madoff, joined in the 1990s."...

• (Complaints about the Madoff firm had been made at least since the 1990's).

Hey, it will be business as usual in the US! Sorry--no Hope and no Change. sm

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