Talking Points Memo | Breaking News and Analysis

Talking Points Memo Breaking News and Analysis: "But for those who are keeping track, the oddest thing about the story so far is how the SEC was alerted repeatedly over the last decade of potential problems with the investment arm of Madoff's operation. They actually did open a few looks into his firm. But they never seemed to look in the right places. They'd look at the non-problematic part of the operation and not the part on the 17th floor where all the weird stuff was going on. Or they'd push for changes that would give them greater access to his books and then never follow up on that greater access."

And who picks the head of the SEC. Who picks all those political appointees that fill the supervisory roles...you guessed it, George W. Bush. This is just another example that will help show the utter incompetence of the Bush administration.