The ``watchdog'' Federal agency, which didn't bark or bite, not only disregarded the repeated warnings of knowledgeable whistle-blower Harry Markopolos, a fund manager, as well as the two examiners in its own Boston office who said that Markopolos likely had it right; the SEC also disregarded reports in Barron's and other financial publications that questioned Madoff's legitimacy; and, perhaps most damning of all, the SEC disregarded letters from an obvious insider who revealed that Madoff was keeping two sets of books and told the SEC to find the evidence on a computer Madoff always carried on his person.
The ``watchdog'' that didn't bark or bite