It was mo The whole Madoff thing stinks of corruption at the highest level. There would have had to be many employees that knew something wasn't right. Many fingers were pointed, and SEC failed to do their duty, that is known as "dereliction of duty" and nobody was held accountable. It proves that you can be pretty stupid, and still have money, but not THAT stupid. When you come right down to it, the Social Security System, amounts to a huge "ponzi" scheme. We've all been duped.