Comments on: Markopolos eyes a fortune from BNY whistleblowing

By: Mbuna

Mbuna — Fri, 14 Oct 2011 09:07:28 +0000

“Is there some kind of rule which says that whistleblowers can’t or shouldn’t short the company they’re shopping to the government?”

Well the banks are free to short anything they’re peddling to the government or any of their clients, so why shouldn’t whistleblowers have the same privileges? This could be the beginning of a fantastic bank back stabbing market with whistleblowers being recruited by the dozens. With the nearly unlimited fraud going on, this is a whole new market waiting to be utilized. I think Markopolos should incorporate and do an IPO and this could be the start of a whole new business sector, creating more jobs and helping to solve the unemployment problem. How about it Felix?

By: sanitychecker

sanitychecker — Thu, 13 Oct 2011 14:31:57 +0000

“If this tactic ends up paying huge dividends for Markopolos, Wilson, and their team, I also wonder whether the whistleblower space might not start getting a bit more crowded…”

One can only hope.

By: byrneseyeview

byrneseyeview — Wed, 12 Oct 2011 22:09:57 +0000

This comes up in any kind of whistleblower discussion: whistleblowers who know they have a lock on a complicated case have a massive incentive to let the fraud grow as large as possible. Perhaps there are plenty of savvy whistleblowers who are carefully “farming” equivalent schemes.

When Bear Stearns implemented an internal whistleblower bounty in the 80′s, they quickly put a cap on it based on this principle (at least according to “Memos from the Chairman”).

By: SohoD

SohoD — Wed, 12 Oct 2011 18:27:49 +0000

It would be such a great thing for our country if whistleblowing became a viable business. Ironically, privatizing regulatory enforcement would seem to be a crucial supplement to agencies like the overburdened and captured SEC.

By: upstater

upstater — Wed, 12 Oct 2011 17:31:40 +0000

If Markopolos manages to get a princely sum for himself and his whistleblowers, that is fair justice.

BNY Mellon is a financial parasite, systematically sucking off pennies from its custodial clients — like all TBTF banks. They are thieving crooks that run their business under the guise fiduciary propriety. Just a different flavor of Madoff.

I agree with Markopolos — the outlaw banksters should be treated as financial terrorists. They created the great recession and are the ones demanding austerity throughout the world. Not a single bank has paid the price for their malfeasance.

If corporations are persons, then they should be subject to Rick Perry’s Texas death panalty. BNY Mellon, Citi, JPMorgan, and Goldman are good places to start.