Global Summit: Harry Markopolos

Category:  BloggERy
Friday, November 15th, 2013 at 9:45 AM
Global Summit: Harry Markopolos by Jay Stevens
Harry Markopolos, during his Erie days

The whirlwind week for the Jefferson Educational Society comes to a close tonight with the Global Summit's Thomas B. Hagen Dignitas Award winner, Harry Markopolos. That award goes to an Erie citizen "who has made a significant contribution to the vitality of American democracy."

Who: Harry Markopolos

What: "The Eight Year Undercover Campaign to Expose Bernie Madoff"

Why: Markopolos was working as a portfolio manager at a Boston-based securities firm when he figured out that Bernie Madoff was running a multi-billion-dollar Ponzi scheme, and he promptly alerted the SEC. That was 2000. It wasn't until 2008 that the feds investigated and prosecuted Madoff -- and that was only after one of Madoff's sons ratted him out.

In short, the dude's a kind of modern-day Cassandra. Which reminds me of the line in the poem by Robinson Jeffers:

Truly men hate the truth, they'd liefer
Meet a tiger in the road.

Bonus Why: Markpolos wrote a book about his investigation of Madoff, called "No One Would Listen: A True Financial Thriller."

Obligatory link to The Daily Show: Yes, Markopolos appeared on Jon Stewart -- in which he eviscerates the SEC.

Erie stuff: Markopolos went to Cathedral Prep during his Erie days. Later he worked for Makefield Securites in the city, which was part-owned by his father.

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IN THIS ISSUE

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Local refugees and immigrants show a true entrepreneurial spirit.

Back-to-back shows at Basement Transmissions showcase two modern giants of metal  

Jim Donovan & Sun King Warriors are bringing their light to the Kings Rook Club on Saturday, May 6.

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Scotty’s Martini Lounge brings two of the region’s O.G. punk bands to Erie for their “Seis de Mayo” party.

Steve Scull will serve as moderator for the Erie Mayoral Debate on Thursday, May 4.