Harry Markopolos Warns of a Bleak Future

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Harry Markopolos — the Boston-based accountant who warned the SEC about Bernie Madoff years before the Ponzi schemer's arrest — gave the annual Zoullas Memorial Lecture at the Southampton Greek Orthodox Church on Saturday, during which he warned the crowd that there was further economic pain to come. The criminals exposed in this bleak, harrowing future, he charged, will make Madoff "look like small-time," and more havoc will be wrought from credit default swaps, which he characterized as "like buying fire-insurance policies from five different insurance companies on your neighbor's house and then burning down the house." Then he had a nice dinner at Nello Summertimes. [Page Six/NYP]