I watched that on TV. The SEC needs to be beat down. They were asleep at the switch for years. The niece of Madoff was an officer in the Madoff Ponzi scheme: She married an SEC regulator. The SEC was tipped off several times since 1999 and did nothing about Madoff. Matter of fact Madoff was one of the gurus who advised the SEC.
I sincerely hope that lots of folks from the SEC go to jail.