Reply #14: Madoff was apparently consulted on 'regulation' of the Markets...

[Hugin]

Or so I read in an article over the weekend.

"Madoff, 70, who had advised the SEC how to regulate markets and donated regularly to politicians, was arrested Dec. 11 and charged with operating what he told his sons was a long-running Ponzi scheme in the New York-based firm’s business advising rich people, hedge funds and institutions. His ability to avoid detection may fuel debate about the SEC’s effectiveness and the adequacy of its resources for policing money managers."

Quoted from... http://www.bloomberg.com/apps/news?pid=20601087&sid=aVzCdm.m0txc&refer=home