Regulators reviewed Madoff 8 times

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.

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