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Representative Scott Garrett Initiatives

The following is a list of just some of the initiatives spearheaded by Congressman Scott Garrett, current Chair of the House Capital Markets Subcommittee on behalf of Madoff victims. These are largely by-products of a close working relationship between NIAP and the Congressman, who is spearheading serious efforts to improve protections for investors victimized by the Madoff fraud.

 

The SEC Hearings -- The Drama Had Little To Do With David Becker

HOW THE REAL CONFLICT OF INTEREST ISSUE HAD TO DO WITH SEC OVERSIGHT OF SIPC, ITS TRUSTEE, AND THEIR DECISION TO BILK INNOCENT INVESTORS

Garrett Calls on SEC to Delay SIPC Reconsideration

Washington, DC– October 3, 2011Statement from Ron Stein, President of the Network for Investor Action and Protection, on Rep. Garrett's Letter to SEC Chairman Shapiro:

Much Wrong With An Appellate Court Decision That Also Sets a Dangerous Precedent

Thousands of Madoff victims had pinned considerable hopes that the Court of Appeals of the Second Circuit would see the issue of “Net Equity” in a different manner than SIPC, Trustee Picard, and the Federal Bankruptcy Court...

What to Watch for at the House Government Oversight Hearing on David Becker and the SEC

Today a joint session involving the House Committee and Government Oversight and Reform and the Financial Services Oversight Committee take on the issue of the former top attorney at the SEC, David Becker, and if there was a conflict of interest in his involvement with the Madoff matter...

Special News Alert: Appellate Court Decision

Investor Beware

Imagine this if you will… The failures of the banking industry lead to an economic meltdown. The FDIC declares that depositor insurance protection will arbitrarily change for any of the hundreds of banks that have gone belly up.  Your bank is one of them. Rather than being protected up to the statutory maximum of $250,000, your account protection will be limited to what you deposited, and will not include any interest that had accrued.

It gets worse.