SEC Reveals its Own Bungling in Madoff Case

WASHINGTON (CN) - After his arrest, Bernard Madoff said he could not understand why the SEC was so incompetent it did not perform the most basic tasks that could have caught his $61 billion Ponzi scam nearly a decade earlier. The SEC has posted 6,000 pages from its investigation of its own incompetence: "Investigation of Failure of the SEC To Uncover Bernard Madoff's Ponzi Scheme."