: Bush SEC Holdovers Stonewall Congress On Madoff Scandal

SEC Lawyer Clams Up On Madoff Scandal, Cites Executive Privilege

Following the scorching Congressional testimony from whistleblower Harry Markopolos, who spent eight fruitless years trying to bring the Madoff scandal to light, Securities and Exchange officials today declined to answer many of Financial Services Committee's most basic questions.
A particularly contentious exchange took place between Rep. Gary Ackerman and the SEC's acting general counsel, Andy Vollmer.
In response to Mr. Vollmer's refusal to answer questions, Mr. Ackerman asks three times whether the Bush holdover citing executive branch immunity.
"Yes, it is, in part," he finally answered.

SEC Official Claims Executive Privilege In Refusing to Answer Madoff Questions