Comments on Madoff Story in New York Times

Over 300 comments so far:

http://community.nytimes.com/article/comments/2008/12/15/business/15madoff.html

Earlier today I was watching CNBC do an interview of a woman named Unger, who had been an SEC commissioner, I think. She very carefully explained that the SEC did not have jursidiction over Madoff in this regard because his clients were sophisticated investors. Being a lawyer having done a lot of SEC work in the past, and investigating the rules more recently for a client, I believe she is spot-on. However, the rest of the afternoon CNBC people keep saying nasty things about the SEC, such as "it should be abolished."