SEC = Morons!

Here's the link to the letter that guy wrote to the SEC in 2005 about how the Madoff fund was a Ponzi scheme - it's a 19 page PDF. In its defense, the SEC stated that the letter was short on details, and that is why they did not act. I read the whole thing, not understanding most of it of course, and it is nothing if not detailed. Whoever read this letter and decided to ignore it should have a live python stuck up his or her a*s!