01/21/2009 05:12 am ET Updated May 25, 2011

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

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.

Read more on Talking Points Memo