• Economic Rights
  • Health Rights
  • Homeowner Rights
  • Political Rights
  • Security Rights
  • About
    • Raves
    • Sponsors
  • Contact

Rights Radio™ with Dr. Joyce Starr

Consumer Rights, Economic Rights, Homeowners Rights, Condo/HOA Rights, Health Rights, Security Rights

You are here: Home / Economic Rights / Shareholder Rights / Madoff Victim Law School Dean on SEC Negligence – Failure to Investigate

Madoff Victim Law School Dean on SEC Negligence – Failure to Investigate

Last Updated on April 21, 2017 By Dr. Joyce Starr

Dr. Starr interviews Bernie Madoff victim Lawrence Velvel on SEC neglect and failure to investigate. Mr. Velvel is Dean of the Massachusetts School of Law at Andover.

Show Date: April 22, 2009

Dean Velvel contends the Securities and Exchange Commission (SEC) was “willfully, horribly negligent” in failing to monitor Madoff’s operation.


The federal judge overseeing the criminal case against Bernard Madoff ordered the seizure of Madoff’s assets, making it impossible for victims to take action against those assets.

According to Velvel, “The SEC’s incredible willful negligence” in failing to investigate Madoff’s operations, despite repeated red flags and written warnings of his criminality, probably makes the agency liable to legal action by aggrieved investors. The SEC, he said, “has no discretion—none—to fail to follow up, with serious investigations, when presented with knowledgeable, detailed, obviously highly competent, and in many respects easily ‘checkable’ allegations of…a huge fraud that is fooling thousands of people, stealing billions of dollars, and causing horrible injustice.”

Equally bad, says Velvel, the SEC was responsible for a lot of people being sucked into Madoff in the first place, because in 1992 it publicly announced that there was no fraud.

Referring to the preponderant majority of Madoff’s victims, Velvel stated, “These are not the billionaires, or the huge institutions, that could hire expensive experts in due diligence…These are the plain people who worked hard and saved all their lives, as capitalism says they should, and who…depended on their government to protect them…but were failed by it because of one of the most willfully negligent, incompetent, and perhaps even complicitous courses of action any agency has ever engaged in.”

Lawrence R. Velvel is an honors graduate of the University of Michigan Law School. He has served as a government lawyer, a lawyer in private practice, and a law professor. He authored a book on the Viet Nam War and civil disobedience, and of many law review and newspaper articles, including humor pieces written under a pseudonym. He recently wrote a quartet called Thine Alabaster Cities Gleam, comprised of: Misfits In America; Trail of Tears; The Hopes and Fears of Future Years: Loss and Creation; and The Hopes and Fears of Future Years: Defeat and Victory. Velvel blogs at velvelonnationalaffairs.com. His blog postings have been published in Blogs From the Liberal Standpoint: 2004-2005, and An Enemy of the People.

In 1988 he was one of the founders, and from inception has been the Dean, of the Massachusetts School of Law (MSL), a school which has introduced extensive reforms into legal education and which especially focuses on providing legal education to the working class, mid-life people, minorities and immigrants. He is the editor-in-chief of, and writes the introductions for, a journal of serious thought called The Long Term View, which is published by MSL. He is also the host of an hour-long television book review show, called Books Our Time, which is produced by MSL and seen throughout New England and the Mid-Atlantic states.

Filed Under: Shareholder Rights Tagged With: Lawrence Velvel, Madoff, securies fraud, shareholder rights

If you purchase a book or item featured on ths site, we might receive a modest fee - literally a few cents on the dollar from Amazon. Otherwise, we do not accept advertisers, nor do we request donations. We're here for you.

About Dr. Joyce Starr

A 25x author and author coach, Dr. Joyce Starr is a maverick thinker and an independent voice. Also: A former White House official, Center for Strategic & International Studies (CSIS) Program Director, international summit organizer, university professor and more. She founded Starr Publishing - DrJoyceStarr.com - in 2007 and Rights Radio in 2008.

Search Our Site

Your Book Baby – Help is a Click Away

For book coaching, contact Joyce at https://DrjoyceStarr.com/contact/

Fighting Condo or HOA Bullies?

For condo & HOA consultations, contact Joyce at https://StarrPublications.com/contact/

Defend Your Condo & HOA Rights

HOA Warrior

2020 Paperback & eBook Editions

Water Leaks & Condo Mold

Condo Mold - When Water Leaks Cause Mold Damage to Your Condo by Starr, Dr. Joyce - Look Inside

Do Renters Rule Your Roost?

When condo renters rule the roost

NEW eBook – Condo Owners Versus Condo Renters. Click Here to Purchase.

Secondhand Smoke Abuse!

condo smoking ban

How to Convince Neighbors to Stop Smoking "This book is truly a breath of fresh air for all who … [Read More...]

Curating Books re Big Pharma

Phone: 786.693.4223 | Site by Dr. Joyce Starr
RightsRadio.com is the Media Site for StarrPublishing.com and StarrPublications.com.

Privacy | Terms

Copyright © by Dr. Joyce Starr 2008 – 2021

Copyright © 2023 · Magazine Pro Theme on Genesis Framework · WordPress · Log in