The Madoff Scandal

Disgraced financier Bernard Madoff stands during his sentencing hearing in New York in this court artist's sketch completed June 29, 2009.  REUTERS/Shepard

"Legacy of shame" and 150 years in prison 4:35pm ET

Bernard Madoff was sentenced to 150 years in prison for perpetrating Wall Street's biggest investment fraud, the maximum punishment allowed for what the judge called "extraordinarily evil" crimes.  Full Article 

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Why did the SEC fail to spot the Madoff case?
Mark T. Williams

The central flaw at the SEC is that its current oversight approach is not sufficiently risk focused, writes Mark T. Williams, a risk-management expert and former Federal Reserve Bank examiner.  Commentary