Call me a pessimist but I’m starting to think the Madoff victims’ effort to hold the SEC accountable for their losses is not going to work out. I’ve been skeptically following the series of cases brought against the SEC under this theory since 2009. As I noted in June 2012, at least four federal district judges have dismissed cases filed against the SEC for the agency’s negligence in handling and investigating the Madoff Ponzi scheme.
