WASHINGTON - SEPTEMBER 10: Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd (D-CT) (C) and ranking member Sen. Richard Shelby (R-AL) (R) hold a hearing about the failure of the SEC to discover Bernard L. Madoff's ponzi scheme on September 10, 2009 in Washington, DC. SEC Inspector General David Kotz said the ponzi scheme was not uncovered by the commission due to Madoff's savvy and reputation, combined with incompetent work by SEC investigators. Getty Images logo Getty Images 3 months ago

WASHINGTON - SEPTEMBER 10: Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd (D-CT) (C) and ranking member Sen. Richard Shelby (R-AL) (R) hold a hearing about the failure of the SEC to discover Bernard L. Madoff's ponzi scheme on September 10, 2009 in Washington, DC. SEC Inspector General David Kotz said the ponzi scheme was not uncovered by the commission due to Madoff's savvy and reputation, combined with incompetent work by SEC investigators.

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  1. WASHINGTON - DECEMBER 02: (L-R) Sen. Tom Harkin (D-IA), Sen. Michael Bennet (D-CO), and Sen. Christopher Dodd (D-CT), participate in a news conference on Capitol Hill on December 2, 2009 in Washington, DC. The news conference was held to announce an amendment to protect and improve guaranteed Medicare benefits for seniors.
  2. WASHINGTON - DECEMBER 02: Sen. Christopher Dodd (D-CT) participates in a news conference on Capitol Hill on December 2, 2009 in Washington, DC. The news conference was held to announce an amendment to protect and improve guaranteed Medicare benefits for seniors.
  3. WASHINGTON - DECEMBER 02: Sen. Christopher Dodd (D-CT) participates in a news conference on Capitol Hill on December 2, 2009 in Washington, DC. The news conference was held to announce an amendment to protect and improve guaranteed Medicare benefits for seniors.
  4. WASHINGTON - OCTOBER 15: Sen. Chris Dodd listens to questions from reporters following the Democratic Policy Committee luncheon October 15, 2009 in Washington, DC. The three Senators gave an update regarding the discussions underway to craft a Senate health insurance reform proposal.
  5. WASHINGTON - OCTOBER 09: U.S. President Barack Obama (C) waves after making remarks about finanacial institution regulation reform in the East Room of the White House October 9, 2009 in Washington, DC. Obama said he supports the creation of Consumer Financial Protection Agency.
  6. Vice President Joe Biden, left, along with Sen. Chris Dodd, D-Conn., center, and U.S. Rep Jim Himes, D-Conn., discuss how the Recovery Act investments are creating jobs and rebuilding Connecticut's infrastructure in Fairfield Conn. Monday, Oct. 5, 2009.
  7. US President Barack Obama speaks during an event celebrating the Edward M. Kennedy Institute for the United States Senate, at the Ritz Carlton Hotel in Washington, DC, on October 14, 2009. Dedicated to improving civic education and educating about the role and importance of the US Senate and named after the late Massachusetts Senator Ted Kennedy, the Institute will be located on the campus of the University of Massachusetts.
  8. U.S. Senate Majority Leader Harry Reid (D-NV) puts his arm around Speaker of the House Nancy Pelosi as they speak about their meeting between Congressional leadership and President Barack Obama on Afghanistan and Pakistan at the White House in Washington, October 6, 2009.
  9. WASHINGTON - OCTOBER 01: Ranking member U.S. Senate Finance Committee member Chuck Grassley (R-IA) listens during a hearing on Capitol Hill October 1, 2009 in Washington, DC. The committee continued to vote on amendments to healthcare reform legislation.
  10. WASHINGTON - OCTOBER 01: Sen. Olympia Snowe (R-ME) speaks during a hearing before the U.S. Senate Finance Committee on Capitol Hill October 1, 2009 in Washington, DC. The committee continued to vote on amendments to healthcare reform legislation.
  11. WASHINGTON - OCTOBER 01: U.S. Senate Finance Committee Chairman Sen. Max Baucus (D-MT) (2nd R) talks to Sen. John Rockefeller (D-WV) (L) and Sen. Maria Cantwell (D-WA) during a break in a hearing on Capitol Hill October 1, 2009 in Washington, DC. The committee continued to vote on amendments to healthcare reform legislation.
  12. WASHINGTON - OCTOBER 01: Ranking U.S. Senate Finance Committee member Chuck Grassley (R-IA) (C) speaks as (L-R) Sen. John Rockefeller (D-WV), Committee Chairman Sen. Max Baucus (D-MT), Sen. Orrin Hatch (R-UT) and Sen. Olympia Snowe (R-ME) listen during a hearing on Capitol Hill October 1, 2009 in Washington, DC. The committee continued to vote on amendments to healthcare reform legislation.
  13. A booking mug shot of Bernard Madoff is seen in this undated handout released to Reuters on March 17, 2009. The hedge fund industry has taken a beating over Madoff's $65 billion Ponzi scheme one year ago, followed by the widening Galleon Group insider-trading case. The upshot is that an industry never comfortable with scrutiny and second-guessing has come under the microscope, with regulators and investors clamoring for change. To match Special Report HEDGEFUNDS.
  14. RNPS YEAR 2009 - Barbara Karen Dweck stands with hands painted as blood stains outside Manhattan federal court house after Bernard Madoff pleads guilty in New York, March 12, 2009. Multimillionaire swindler Bernard Madoff is leaving the luxury of his Manhattan penthouse to become just another inmate in a crowded jail. The 70-year-old former Nasdaq chairman who pleaded guilty to fraud on Thursday in one of the largest Ponzi schemes in history, will likely share an 8-foot-by-7-1/2-foot cell with another inmate while he awaits sentencing, scheduled for June 16 by Judge Denny Chin.
  15. Bernard Madoff walks back to his apartment in New York December 17, 2008. Disgraced financier Madoff, accused of orchestrating a $50 billion fraud, was placed under house arrest on Wednesday as BNP Paribas became the latest European bank to be sideswiped by the scandal. REUTERS/Shannon Stapleton.
  16. A Shelter Island Runabout sport vessel owned by Bernard Madoff named "Sitting Bull" sits in the dockyard National Liquidators in Davie, Florida November 16, 2009. The 38-footer is among three Madoff vessels up for sale in a live auction tomorrow with proceeds going to victim restitution.

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  11. The statue of Christ the Redeemer is seen during sunset in Rio de Janeiro, Tuesday, Dec. 15, 2009.
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