There is a lot we still don't know about the Madoff scandal. In my eight years as chairman of the Securities and Exchange Commission (SEC), I never saw an instance where credible information about misconduct was not followed up by the agency. I knew Bernie Madoff and had no reason to believe he was not a legitimate market maker, nor did anyone at that time know he was acting as an adviser to outside investors.
Il reconnaît toutefois la pertinence de l'enquête interne lancé par le président actuel de la SEC, compte tenu des conflits d'intérêts possibles impliquant un membre de la commission lié à la famille Madoff.
Il favorise une meilleure évaluation des risques et une meilleure utilisation des ressources en matière d'application de la réglementation:
Enforcement is not just an exercise in overwhelming force; it's about using scarce resources to address the most significant and current market misconduct in a way that has the greatest impact. It entails drawing on a new risk-assessment approach to judge where enforcement actions will be most effective as a deterrent to bad behavior; being able to move quickly after violations of law occur; and when appropriate, exploring creative ways to craft industry-wide solutions to industry-wide problems.