SEC "In A State Of Complete Panic" Over Madoff Revelations

01/21/2009 05:12 am ET | Updated May 25, 2011
  • Zachary Roth Talking Points Memo

The revelation that Bernard Madoff -- who himself had in the past served as an adviser to the SEC on electronic trading -- was running an alleged "$50 billion ponzi scheme" has rocked the SEC to its core, according to a current long-serving member of the commission's enforcement division.

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