Congress to begin reviewing Madoff case next week

12/30/2008 | Reuters

As Congress gears up to rewrite laws governing the U.S. financial system, it will take its first look at the $50 billion Ponzi scheme allegedly run by Bernard Madoff and why the Securities and Exchange Commission failed to stop it. Among the issues lawmakers plan to consider at a hearing Monday is whether the Securities and Exchange Commission has enough manpower and money to do its job, said Rep. Paul Kanjorski, chairman of the House subcommittee for capital markets.

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