Hear a discussion with two financial analysts who tried to sound the alarm about Bernie Madoff's activities but were ignored by your federal government.
Madoff often bragged about his cozy relationship with regulators... (which allowed him to do whatever he wanted). Many of the holes in the financial regulatory system still remain. And it's a symptom of a wider problem of corruption in government that Americans have not only grown to tolerate, but to expect. There was the muzzling of Brooksley Born, former chair of the Commodity Futures Trading Commission who tried to warn the nation about a looming financial crisis; The FDA being corrupted and controlled by the drug companies; and even oil industry execs openly providing gifts & having sex with federal regulators from the Interior Department in exchange for less stringent oversight.