Madoff whistleblower Harry Markopolos details fraud allegations against General Electric
Madoff whistleblower Harry Markopolos details fraud allegations against General Electric
Bernie Madoff whistleblower Harry Markopolos joins "Squawk on the Street" to discuss his fraud allegations against General Electric, and why he believes the company is headed for bankruptcy.
@Yugioh Pokemon he literally said it in the video… they couldnt afford to pay Kansas 15billion in cash, they had to extend the payment over 7 years …only 14% of their LTC insurance claims have matured, leaving the follow 86% left to payout. claims will mature exponentially over the coming years. ge will be bleeding cash… also, new accounting laws which must be implemented by 2021 will force them to raise and additional 21billion in cash to hold on reserve
zero chance you even listened to the video let alone read the report
@Denmark Fidelio LOL still down from when? It’s above what it was when Markopolos released his “report”. What would have been better? Please, I just want to hear your advice maybe you’re right.
@Naofumi Iwatani No, it’s not his job, it’s the job of the government, but Wall Street pay them off. He is working for free to stop further corruption, and then he gets rewards, or he can go to jail. Try to follow what he says.
@Ron Without bodyguards Mr. Markopolos might end up like Epstein , where the public is left with a lousy public “explanation” about a 20 inch high bed and a stripe of cotton sheet being used as gallows. Mr. Barr , we are not that stupid.
Man, I am a CPA and Harry’s knowledge puts mine and almost anyone’s to shame. He deals with really complex issues and must have a profound gift to be able to absorb and maintain reams of information at a time.
I’m not a CPA, I have been a bookkeeper for over 20 years learned from a very good accountant from the bottom up, I would love to work for him. I love forensic accounting. He is awesome!
@Endless Adventure — Yes, I completely agree. Beautifully articulated. When I was in college, I struggled in all of my math classes and my accounting classes. Even the basics of accounting were difficult to comprehend and understand because it seemed like a foreign language to me. (Plus, math isn’t my strong suit, at all.) I couldn’t even imagine having the amount of intelligence that Harry has. His brain is a masterpiece, he has a rare gift, and I’m so glad he has found his calling. He makes a living exposing fraud and Ponzi schemes, and I commend him for that. He tried to expose the Madoff scandal years before it all was revealed. You should read his book, “No one would listen” — it’s so intriguing!
@Renato UnREAL umm, he’s working with federal authorities regarding this issue. You can’t release sensitive information just to appease schmucks like you. That’s not how the legal system works
To the skeptics, it’s called forensic accounting. It’s what he does. And he is self-funded. The hedge fund only paid for early access to his report. He’s only coming out now because it’s already in the hands of authorities. Obviously he had to keep silent while working on GE, you don’t want your subject to know you’re investigating them.
CNBC used to be owned by GE, bought out by Comcast which has The. Worst. Reputation. of any corporation or entity, worse even than the IRS. They probably all have mostly GE stock in their retirement portfolios which are crashing as they’re sitting there.
Well, its two years later and the stock price has gone up. Obviously, he missed it this time. Yeah, good job on Madoff. But on GE, nope, you got it wrong. Sad that no one has posted here to mention this in more than a year.
sorry to be off topic but does someone know a trick to get back into an Instagram account??
I was stupid lost my login password. I love any tricks you can give me.
@Roland Raphael i really appreciate your reply. I found the site thru google and im in the hacking process now.
Takes a while so I will get back to you later when my account password hopefully is recovered.
@shreddagorge It isn’t his hedge fund. A hedge fund found out about the work he was doing and said “hey nice report you have there, mind if we take a look before it goes public? we’ll cut you in on any profits we make based on it.” then the hedge fund loaded up the boat….and they are probably still short GE right now. What’s odd is that the press continues to focus on this aspect and that distracts from the facts he is presenting. To me the hedge fund business is a non story. It wasn’t insider trading since his report is put together using nothing but public information. Also they aren’t questioning the report…he is too advanced for these idiots…so what they are doing is trying to throw dirt on him to distract from the fact they failed at their job as members of the press.
@fausto412 Boom! Perfect assessment of the situation at hand. A bunch of journalists who incurred tens of thousands in student loan debt to become a journalist and none of them did their research.
@Kisembe Namusyule Probably when they were in school they were too busy partying and getting drunk to actually study. They were stupid enough to pay $100s of 1000s for a piece of paper but where’s the evidence they actually LEARNED something?
Naw… You really wouldn’t… The scammers would be threatening to move to Mexico or China if the state taxpayers don’t throw millions into the company, while the management is secretly frantically moving to Mexico and your job is in danger…
You’re watching the difference between an expert who looks at numbers and reporters who masquerade as experts but are really cheerleaders for their favorite entrepreneurs and companies. There are millions of people who make investment decisions based on their guests and hosts. Harry Markopolos is amazing at looking at numbers…while the anchors are having their confirmation bias destroyed.
It didn’t seem to me that the anchors were biased, how did you come to this conclusion? Journalists are supposed to ask a bunch of questions, which is what they did, none of which were hostile.
These interviewers are asking so many questions and Harry smashes every single one with such grace and patience. What a great guy! I’m looking to short GE now after everything he’s just said
These anchors are in WAY above their heads.
Hes like a great white shark eating up those virtue signalling questions asked by minnows.
The accounting level is just incomparable.
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Harry Markopolos is an American hero. Thank you sir.
@V. V The near future will show who is right.
@Yugioh Pokemon he literally said it in the video… they couldnt afford to pay Kansas 15billion in cash, they had to extend the payment over 7 years …only 14% of their LTC insurance claims have matured, leaving the follow 86% left to payout. claims will mature exponentially over the coming years. ge will be bleeding cash… also, new accounting laws which must be implemented by 2021 will force them to raise and additional 21billion in cash to hold on reserve
zero chance you even listened to the video let alone read the report
@alex robinson I’m literally agreeing with you
@Yugioh Pokemon i replied to the wrong person lol that other kid is braindead though
@alex robinson its alright lol
Why are you all so MAD at Harry… He just HELPED EVERYONE instead of keeping it to himself until they went under
GE stock is around $11 now, did you sell thinking Harry was helping you? LOL
Stare Kotlety you couldn’t wait to get that out… remember… it’s still down… you would have done better with investing in something else…
@Denmark Fidelio LOL still down from when? It’s above what it was when Markopolos released his “report”. What would have been better? Please, I just want to hear your advice maybe you’re right.
The same needs to happen in the election
Damn, Harry is excellent at his job. He did well in this tv interview.
He’s a good analyst because he confidently presents his cherry picked data? You’re a schmuck.
This coming from someone who lives with his parents and plays video games all day. You are goofy kid.
@Goat78 Making assumptions without evidence really got you far in the stock market didn’t it? You’re still a schmuck.
Just look at all the videos you uploaded. Nothing but video games. Grow up, you big kid. If you really want to see a schmuck go look at a mirror.
@Goat78 How much did you lose that you’re this angry?
Man, this guy ain’t stuck for work with Wall St, he’ll be busy for a thousand years!
@Naofumi Iwatani No, it’s not his job, it’s the job of the government, but Wall Street pay them off. He is working for free to stop further corruption, and then he gets rewards, or he can go to jail. Try to follow what he says.
@Naofumi Iwatani He’s already done the work, he has a deal with a hedge fund company, BUT THEY HAVEN’T PAID HIM!!! You need to hear what he says.
@Naofumi Iwatani Oh, is he? I’m pretty sure he goes to jail if he can’t win… I think you need to study the case more.
@Ron Without bodyguards Mr. Markopolos might end up like Epstein , where the public is left with a lousy public “explanation” about a 20 inch high bed and a stripe of cotton sheet being used as gallows. Mr. Barr , we are not that stupid.
Harry is an absolute legend. This is the kind of person I trust that has the publics interest as a priority over large corrupt corporation.
He’s like the Ralph Nader of his generation.
Let Mr. Markopolos take a look on Mr. Trump’s tax returns and tell us who the person actually is governing America.
Lennart Krantz Unfortunately Harry would mysteriously disappear, or his family would be examined to find any weaknesses, Jay walking, littering etc.
Man, I am a CPA and Harry’s knowledge puts mine and almost anyone’s to shame. He deals with really complex issues and must have a profound gift to be able to absorb and maintain reams of information at a time.
Let Mr. Markopolos take a look on Mr. Trump’s tax returns and tell us who the person actually is governing America.
I’m not a CPA, I have been a bookkeeper for over 20 years learned from a very good accountant from the bottom up, I would love to work for him. I love forensic accounting. He is awesome!
@Endless Adventure — Yes, I completely agree. Beautifully articulated. When I was in college, I struggled in all of my math classes and my accounting classes. Even the basics of accounting were difficult to comprehend and understand because it seemed like a foreign language to me. (Plus, math isn’t my strong suit, at all.) I couldn’t even imagine having the amount of intelligence that Harry has. His brain is a masterpiece, he has a rare gift, and I’m so glad he has found his calling. He makes a living exposing fraud and Ponzi schemes, and I commend him for that. He tried to expose the Madoff scandal years before it all was revealed. You should read his book, “No one would listen” — it’s so intriguing!
@Boowt Bwj — Can you please stop using all caps, and just type normally. It’s giving me anxiety and a headache.
@Endless Adventure Have you seen the 60 Minutes interview on Harry regarding Bernie Madoff? I was impressed with Harry then!
A straight talker on TV! Very rare thing to see. Even when pressed on his motives, he simply says “I’ve got a family to feed”.
@John Smith and you snuck a snuke up your snizz and snove it.
This is the type of straight talker that people should listen to. Not a grifter like trump. Busting frauds and conmen not being one
@John Smith clearly have no clue what a snitch is. Dont try too hard buddy
@Renato UnREAL umm, he’s working with federal authorities regarding this issue. You can’t release sensitive information just to appease schmucks like you. That’s not how the legal system works
To the skeptics, it’s called forensic accounting. It’s what he does. And he is self-funded. The hedge fund only paid for early access to his report. He’s only coming out now because it’s already in the hands of authorities. Obviously he had to keep silent while working on GE, you don’t want your subject to know you’re investigating them.
this man found his niche. go get ’em Harry!!
He really has. After exposing the Madoff scandal, he made a living exposing fraud and I commend him for that.
TRUTH TELLER! A combo of tenacity,grit, high inteligence and solid backbone.
The interviewers are hostile towards Harry, and suspicious of his motives. Why?!
CNBC used to be owned by GE, bought out by Comcast which has The. Worst. Reputation. of any corporation or entity, worse even than the IRS. They probably all have mostly GE stock in their retirement portfolios which are crashing as they’re sitting there.
@Joe Justjoe Cramer should have never gotten farther in life than as a carnival barker at your local state fair.
Because they are MSM elites 🤷🏼♂️
Because a year later and nothing.
We need 100 of these guys in the Senate and 458 in the House.
LoL just Clone him ..
Yes! Marianne Williamson is kind of barking up that tree…. btw…
458?
“Have you reported this to the authorities?”
“Already done”
stunned silence
Mike L he puts his money where his mouth is and they don’t know how to react to that
Well, its two years later and the stock price has gone up. Obviously, he missed it this time. Yeah, good job on Madoff. But on GE, nope, you got it wrong. Sad that no one has posted here to mention this in more than a year.
@Paul Colburn only 2 years and you think he got it wrong lol ??? Do you know how many years he was reporting Madoff before the 2008 crisis ???
Harry sounds extremely rational, extremely well studied, didn’t stutter or stammer, and looked everyone in the eye. My money is on Harry.
sorry to be off topic but does someone know a trick to get back into an Instagram account??
I was stupid lost my login password. I love any tricks you can give me.
@Brayan Bridger instablaster 🙂
@Roland Raphael i really appreciate your reply. I found the site thru google and im in the hacking process now.
Takes a while so I will get back to you later when my account password hopefully is recovered.
@Brayan Bridger Glad I could help =)
“I need to get paid” I love it. Didn’t even play with her and odd choice of questioning.
What’s so odd about questioning a report that his hedge fund will clearly profit from?
@shreddagorge It isn’t his hedge fund. A hedge fund found out about the work he was doing and said “hey nice report you have there, mind if we take a look before it goes public? we’ll cut you in on any profits we make based on it.” then the hedge fund loaded up the boat….and they are probably still short GE right now. What’s odd is that the press continues to focus on this aspect and that distracts from the facts he is presenting. To me the hedge fund business is a non story. It wasn’t insider trading since his report is put together using nothing but public information. Also they aren’t questioning the report…he is too advanced for these idiots…so what they are doing is trying to throw dirt on him to distract from the fact they failed at their job as members of the press.
@fausto412 Boom! Perfect assessment of the situation at hand. A bunch of journalists who incurred tens of thousands in student loan debt to become a journalist and none of them did their research.
@Kisembe Namusyule Probably when they were in school they were too busy partying and getting drunk to actually study. They were stupid enough to pay $100s of 1000s for a piece of paper but where’s the evidence they actually LEARNED something?
@signalfire6 You nailed it. They were partying while this guy was actually studying. Now their annoyed by his superiority over them.
I love this guy, such a BOSS. Answered those questions like a damn BOSS!
https://fortune.com/2019/10/03/ge-accounting-markopolos-madoff/
“When you move to my hometown and you’re running a scam, I’m gonna come after you.” – D – A – M – N –
There is a massive scam where i live. Nextera energy which has the CEO from ge too..
Also “ge renewables ” which is also a bs con
Naw… You really wouldn’t… The scammers would be threatening to move to Mexico or China if the state taxpayers don’t throw millions into the company, while the management is secretly frantically moving to Mexico and your job is in danger…
@Edward Brown apologies….what do you mean?
Greg Contolini that was only damn think he said for long time .
Boston is a great town!
we need to make Harry Markopolos head of SEC and hire his team as well ….. clean house !!!!!
SA The SEC should be doing this job themselves. Why aren’t they? Because the government is full of incompetent shits that do not know their stuff.
In his book, he gave recommendations as to the types of employees the SEC should have, and pay scales. Very few have those skill sets.
YESSSSSS
Would never happen. He has too much integrity and wouldn’t encourage scams like the government does.
The global financial machine would shut down if that happened. It’s not designed to operate without elements of lying and manipulation.
You’re watching the difference between an expert who looks at numbers and reporters who masquerade as experts but are really cheerleaders for their favorite entrepreneurs and companies. There are millions of people who make investment decisions based on their guests and hosts. Harry Markopolos is amazing at looking at numbers…while the anchors are having their confirmation bias destroyed.
The math does not lie.
It didn’t seem to me that the anchors were biased, how did you come to this conclusion? Journalists are supposed to ask a bunch of questions, which is what they did, none of which were hostile.
Exactly
@Ebong Eka but they through away all those stock options ???
@Warfare Octopus this guy needs to prove or disprove the math of election fraud.
These interviewers are asking so many questions and Harry smashes every single one with such grace and patience. What a great guy! I’m looking to short GE now after everything he’s just said
No he just acts right and you buy it, report turned out to be cherry picked bullshit no one is taking seriously.
https://fortune.com/2019/10/03/ge-accounting-markopolos-madoff/
These anchors are in WAY above their heads.
Hes like a great white shark eating up those virtue signalling questions asked by minnows.
The accounting level is just incomparable.