The WSJ reports on upcoming Congressional review of the SEC and the Madoff affair. This article details how at least 8 examinations by regulatory bodies failed to uncover the alleged scam.
Madoff is a fascinating example of regulatory and governance failures. It beggars belief that there were 8 different probes into Madoff.
Further the apparent failure of so called due diligence and risk assessment by a number of major institutions is very disturbing.
I think there is still a lot to come out about this affair.