It takes a Ponzi to know a Ponzi...have a read and see how fraud flourished

http://nymag.com/news/features/berniemadoff-2011-3/

The Madoff TapesBy Steve Fishman
...
...The SEC,” he says, “looks terrible in this thing.” And he doesn’t see himself as the only guilty party on Wall Street. “It’s unbelievable, Goldman … no one has any criminal convictions. The whole new regulatory reform is a joke. The whole government is a Ponzi scheme.”

If this was a 3rd world country we would be laughing -