Bernard Madoff: Top cop at the SEC?


Looking back on Bernard Madoff's crimes, the nation's courtrooms, newspapers, magazines, and blogs have repeatedly asked the same question: how. How could this happen? How did he get away with it? Perhaps most importantly, how did he fool so many people for so long?

One answer lies in Madoff's resume. In addition to his years as a successful trader, the famed fraudster was Chairman of the Board of Directors of the National Association of Securities Dealers, a self-regulatory organization that oversees the securities market. However, as impressive as this position is, it pales beside the job that, according to him, was almost within his grasp.