Monday, April 13, 2009

All in the family

Shana Madoff, niece of Bernie Madoff, a compliance officer at the infamous firm, is concerned she may be eventually doing some time, so she has hired a consultant to teach her how to survive behind bars.

The money quote in the article, "Shana was a compliance officer and signed a lot of documents, saying they were correct," the source said. "She may have a problem."

Um, do you think so? Do you smell some conflict of interest or just plain ineptitude here? That's exactly what compliance officers are there for. They are supposed to question any transactions that contain the slightest whiff of impropriety about them. My guess is that practically everything she signed off on was illicit, whether she knew it or not.

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