[Walts Ice Pick]

Well, I'm not saying any particular bank did or didn't do anything in the Madoff situation. But, I can tell you that when banks become involved in servicing huge accounts like Madoff, they have an interest in understanding the business they're involved with servicing.

A total outsider, Harry Markopolous was able to spot the fraud just on the basis of what Madoff was reporting as returns. Does it really seem to you impossible that banks who were working with Madoff on a daily business might have suspected fraud?

[ReverendJames]

Most likely they turned a blind eye to it.