I'm guessing the SEC is both underfunded && following political direction. They may have needed more funding to go after all the potential illicit trading the

I'm guessing the SEC is both underfunded && following political direction. They may have needed more funding to go after all the potential illicit trading the last 10 years or so, but it seems they could have gone after more than they did. I find it very interesting the SEC did not touch Madoff until the end of 2008 when there seem to be strong warnings several years earlier.