SEC Had Been Warned of Madoff For Years

So what did they do? Nothing, proving that malfunctioning government agencies are useless. Like the government in general.

So what do they do? Lull investors into a false sense of security. hey the SEC says this fund is Kosher, lets invest. The government as we have seen, cannot do anything right, at all. yet investors gladly believe what their regulatory agencies say. The Fed, SEC all of these agencies have simply created enormous amounts of moral hazard in the economy.

Lesson, there is absolutely zero substitute for doing ones one homework.

http://www.msnbc.msn.com/id/28310980/