Can't help but think what might have led to the biggest investment fraud in all of history, the Bernard Madoff scandal. Loose SEC regulation certainly played a role along with the climate of let business self-regulate their activities. But the more I think of this, a Ponzi scheme requires a very essential element, no matter how big or small the scheme is. And that is greed on the part of the investors who think they can make a quick profit by investing with a Wall Street legend, with little questions asked. Do I feel bad for multi-millionaires and billionaires losing half or more of their assets? I seriously doubt they'll be worrying about next month's bills so the answer is no. Do I feel bad for non-profits losing everything? Maybe, but again, they elected or appointed financial directors who they feel can make them the most profit. So I think the Obama administration will change this culture of non-oversight fairly quickly within the financial industry but at the same time, I don't think any amount of reform can change the way the majority of Americans think about greed and the accumulation of wealth.