Phil Cannella brings truth
Phil Cannella – Phillip Cannella Blog: Phil Cannella, in his mission to bring truth to the American retiree, headed down to the nations capital and conducted an interview with the then Inspector General of the SEC. During this intense videoed interview, Phil Cannella posed some tough questions and got some eye-opening answers that lay bare some of the basic flaws with the oversight of the securities industry and speaks volumes to the ineffectiveness of the very department that is meant to oversee the industry.
Phil Cannella gets Inspector General to let down guard
In this interview Phil Cannella asks how the SEC missed Madoff for so long despite the warnings they had received that something fishy was going on. The Inspector General gives Phil Cannella some real insight into what happened there: “Bernie Madoff for example was very affective in sort of playing the SEC folks in a variety of ways. He would not allow them to talk to anyone else in his office other than him, when they tried to talk to somebody else he would usher them out the door, he would flatter them-give them certain information that they didn’t know and then when they asked for documents that he didn’t want to provide he would get very angry. And so I think he was able to manipulate the SEC folks, they were mostly junior examiners and junior investigators working on the case and I think in some ways they were over matched. Particularly with Bernard Madoff.
Phil Cannella does a tremendous job in getting the Inspector General to let down his guard and speak candidly on matters of concern to the American public.
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