Petition  BernardMadoffVictims.org Coalition   Bernard Madoff Victims Coalition Petition to Ensure the SEC and SIPC follow the Law as Written   On December 11, 2008 Bernard Madoff turned himself in and told the world he robbed $64 billion from tens of thousands of people. These people, many of whom lost their entire life savings, are working together to try to get the laws that are already in place enforced. The Securities and Exchange Commission (SEC) allowed the fraud to continue despite numerous warnings over the last 17 years. It is now the responsibility of the SEC to make sure that the insurance that is in place to pay investors in the case of fraud gets paid. This insurance is paid from a broker funded (non-government) agency, The Securities Investor Protection Corporation (SIPC). Taxpayers’ dollars are not used to pay this insurance to investors. However, the SEC’s Commissioner, Mary Schapiro has not responded to the requests of the victims, their attorneys, or even the Congressmen who have supported the victims’ efforts. The SEC is ignoring its responsibility to force SIPC to live up to its statutory obligations.  Madoff victims are being victimized by the SEC's incompetence. In fact, at a Congressional Hearing on July 14th, when Ms. Schapiro was asked by Congressman Gary Ackerman (D-NY) “Which investors are eligible for their SIPC insurance”  Ms. Schapiro hesitated, adjusted the microphone a bit, then replied, "It shouldn't be such a difficult issue but it is." She then goes on to say, "The tragic truth is there is not enough money available to pay off all the customer claims." THIS IS NOT TRUE. The Securities Investor Protection Act of 1970 (SIPA) provides that “SIPC shall have the power to borrow moneys and to evidence such borrowed moneys by the issuance of bonds, notes, or other evidences of indebtedness”.   The SEC has a statutory obligation to assure that SIPC borrows sufficient funds to pay off the obligations to all Madoff investors immediately. The trustee assigned by SIPC to distribute the insurance money has arbitrarily (and illegally) changed the definition by which payments are made to victims. That definition is currently being challenged by no less than three (3) attorneys in a court of law. It is the responsibility of the SEC to see that the trustee acts according to the law, and he is not. The trustee’s interpretation of the law will mean that thousands of Madoff investors will not receive the funds that SIPC is required to pay them.        After Ms. Schapiro’s startling admission on July 14th, the victims now understand why the trustee is trying to change the manner in which claims should be paid - has he known all along about the gaping lack of available funds? The Madoff investors received trade confirmations for every security they believed was bought and sold by the broker/dealer. Each trade confirmation confirmed that Madoff was a member of SIPC and thus investors knew they were protected in the event of fraud. The lack of proper funding is not the investors’ responsibility, but that of SIPC, the organization that insured the broker. The undersigned agree that the SEC must step in and take responsibility, as written in the SIPC statute : b) ENFORCEMENT OF ACTIONS In the event of the refusal of SIPC to commit its funds or otherwise to act for the protection of customers of any member of SIPC, the [Securities and Exchange] Commission may apply to the district court of the United States in which the principal office of SIPC is located for an order requiring SIPC to discharge its obligations under this chapter and for such other relief as the court may deem appropriate to carry out the purposes of this chapter."  In addition, if the SEC refuses to live up to its mandated responsibility, then United States Congress must step in to make certain that the laws they wrote when SIPC was created are followed. The undersigned agree that Congress should oversee that the laws, as written, are followed as they relate to SIPC.                     The content below was added by the petition author on July 18, 2009 at 11:58 pm and may not reflect the views or opinions of signatories prior to that date. DISCLAIMER: People asked about the discrepancy between the number of signatures and the number of people who viewed the petition. Many people have logged on multiple times, to check signatures and/or to check the count. Each time counts as a view.   The content below was added by the petition author on July 27, 2009 at 6:39 pm and may not reflect the views or opinions of signatories prior to that date.   The content below was added by the petition author on July 27, 2009 at 6:42 pm and may not reflect the views or opinions of signatories prior to that date. NOTE: Signing is not completed until you receive a confirmation email and CLICK ON THE LINK  IN THE EMAIL. If you never get the confirmation email, even in your spam areas, then please sign the petition again with a different email address, if you have one. If the problem persists, contact us at madoffpetition@gmail.com   Sign this petition! Petition Author Author:BernardMadoffVictims.org Coalition Email: info@bernardmadoffvictims.org Web: http://bernardmadoffvictims.org Fax: 510.380.0820 Contact: Ronnie Sue Ambrosino Petition Information Current Signatures: 1172 Petition Views: 6693 Created: July 15, 2009 at 1:21 am

		Current Signatures Showing Signatures 1153-1172 of 1172 Browse all signatures 1153. Brian Englebardt Verified Email October 28, 2009 at 5:12 pm My wife and I lost 17 years of working for and investing in MCI with Bernie Ebbers. We recovered less than 1% of our investment, the lawyers walked with hundreds of millions of dollars and many perpetrators are still rich. Now we have relived the horror of white collar crime with Bernie #2 and Picard. How will justice be served when our own government is part of the overall corrupted process? Sorry, but not very positive about the future outcome. Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): Yes If you'd like to be added to our Mailing List, please supply your Name and Email Address.: Brian Englebardt benglebardt@msn.com Please Check off Which Category applies to You.: Madoff Investor What state do you reside in? (Please use the 2 character abbreviation.): Colorado 1154. peggyann gerhard Verified Email November 4, 2009 at 3:19 pm (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): Yes Please Check off Which Category applies to You.: Madoff Investor 1155. Florence Roth Verified Email November 5, 2009 at 6:48 pm (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Madoff Investor 1156. Suzanna Brown Verified Email November 8, 2009 at 10:00 am Where IS a safe place for our investing and savings? Who can we trust? Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Other If other, Please explain:: Who is watching out for who? This is so NOT okay. What state do you reside in? (Please use the 2 character abbreviation.): TX 1157. Sheila Seclearr Verified Email November 8, 2009 at 5:49 pm There's a lot of work to do to restore trust in our financial system and this is a fair place to begin. These investors were at the front lines with no warning. If they aren't treated fairly, logic tells me not to invest again anywhere in this system. Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): NM 1158. Patrick Houser Verified Email November 9, 2009 at 1:15 am (No comment) Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): TX 1159. Niki Doering Verified Email November 9, 2009 at 5:46 am I fully support using the current law to uphold what is fair and right and I encourage and support the refining of any and all laws to reflect that which upholds the highest integrity individually and collectively. Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Support the Victims 1160. Craig Roth Verified Email November 11, 2009 at 6:48 am (No comment) Questions answered: Are You a Former Madoff Investor?: No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): New York 1161. Thomas J. Bernfeld Verified Email November 11, 2009 at 9:46 am (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Madoff Investor What state do you reside in? (Please use the 2 character abbreviation.): FL 1162. WJ Dye Verified Email November 14, 2009 at 9:18 am Fair Treatment for Madoff Victims Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): CO 1163. Karen Robison Verified Email December 10, 2009 at 3:49 am I think it is a travesty that so many people have lost their life savings to the dishonesty of Madoff. I wouldn't want to have the conversation with God he will have when he makes his transition. Questions answered: Are You a Former Madoff Investor?: No Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): TX 1164. Michael Castelli Verified Email December 10, 2009 at 5:13 pm (No comment) Questions answered: Are You a Former Madoff Investor?: No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): FL 1165. Diane Meyer Verified Email December 22, 2009 at 5:13 am (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): Yes Please Check off Which Category applies to You.: Madoff Investor What state do you reside in? (Please use the 2 character abbreviation.): NC 1166. steven sondov Verified Email January 14, 2010 at 1:19 pm (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): Yes If you'd like to be added to our Mailing List, please supply your Name and Email Address.: sondovsa@comcast.net Please Check off Which Category applies to You.: Madoff Investor 1167. Gregory J Dwyer Verified Email February 3, 2010 at 7:26 am (No comment) Questions answered: Are You a Former Madoff Investor?: No Please Check off Which Category applies to You.: Support the Victims What state do you reside in? (Please use the 2 character abbreviation.): MI 1168. Della Hertzberg Verified Email February 8, 2010 at 10:21 am (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Would you like to Join the BernardMadoffVictims.org Coaltion (you must be a former Madoff Investor ): Yes If you'd like to be added to our Mailing List, please supply your Name and Email Address.: dhertzberg1@yahoo.com Please Check off Which Category applies to You.: Madoff Investor What state do you reside in? (Please use the 2 character abbreviation.): sc 1169. Dionysios Psyhogios Verified Email March 16, 2010 at 1:57 am (No comment) Questions answered: Are You a Former Madoff Investor?: Yes Please Check off Which Category applies to You.: Madoff Investor What state do you reside in? (Please use the 2 character abbreviation.): I am now residing overseas (Greece) 1170. Ann Deschenes Verified Email April 16, 2010 at 10:52 am (No comment) Questions answered: Are You a Former Madoff Investor?: No If you'd like to be added to our Mailing List, please supply your Name and Email Address.: bloom2156@hotmail.com Please Check off Which Category applies to You.: Support the Victims 1171. elizabeth emison Verified Email May 23, 2010 at 5:34 pm (No comment) Questions answered: Are You a Former Madoff Investor?: No If you'd like to be added to our Mailing List, please supply your Name and Email Address.: eaemison@aol.com Please Check off Which Category applies to You.: Other If other, Please explain:: interest/reading markopolos book What state do you reside in? (Please use the 2 character abbreviation.): WA 1172. Tim Murray Verified Email June 22, 2010 at 6:07 pm Madoff could not of committed this fraud without the Securities and Exchange Commission and Securities Investors Protection Corporation. The SEC and SPIC were integral to the scheme. The twin illusions that the SEC was protecting customers from dishonest registered brokers and that their customers would be protected by the industry funded SIPC insurance allowed him to steal billions from thousands of people.

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