Madoff surprised he wasn't caught sooner.

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Hello myLoters. Those of you who have followed the trial and the guilty plea in March of former Nasdaq chairman Bernard Madoff will be surprised to note that he thought that the SEC never even suspected him. He stated in a recent interview that he had too much credibility with the SEC. Madoff ended up scheming people out of millions of dollars and destroyed thousands of people's life savings. He ran probably the largest ever Ponzi scheme ever. This is a scheme in which investors are paid with other investors money on not on the profits of their investments. Madoff believes that even though he was investigated numerous times by the SEC, they never even suspected him of running a Ponzi scheme. He stated that they never even asked for basic records dealing with his operations. In his trial he didn't even bring an attorney because he thought that he could fool the government investigators into thinking he had nothing to hide. He is now serving a 150 year sentence in Fedral Prison. In light of this Madoff incident do you think there should be tighter controls in regards to the SEC investigation of money managers? Should there be random checks of people who invest other people's money in order to prevent this from ever happening again?