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by Walter Alarkon - 12/17/08 9:20 AM ET
by Walter Alarkon - 12/17/08 9:20 AM ET

The Securities and Exchange Commission (SEC) probe into the alleged investment fraud by Bernie Madoff suggests that he kept false documents and lied to investors and regulators, writes Josh Marshall. The SEC, however, was alerted several times about possible wrongdoing by Madoff and never seemed to look for it in the right place, writes Marshall.

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