SEC - Another Government Mess

Have you heard about Harry Markopolis? If not, check this out...
http://ac360.blogs.cnn.com/2009/02/05/where-have-you-been-harry-markopolos/

3 inches of warning to the SEC over 8 years about Madoff's ponzi sceme!!!

The SEC is a government agency that promotes from within. Promotion is not based on ability, but rather seniority, the ability to play nice, and timely paperwork completion. The SEC is simply not capable of doing the job it is tasked with. In fact, I bet less than 10% of the SEC staff would even know what Free Cash Flow was in a business, let alone understand how it might be calculated.

This is the situation we find ourselves in when we expect the government to protect us.