September 10. 2009  

A recently released recorded phone call between ponzi schemer Bernard Madoff and an associate, reveals his arrogance in attempting to rig an investigation the S.E.C. was conducting into his business, which would have uncovered his misconduct, had they done their jobs correctly.

The telephone call was subpoenaed during legal proceedings and illustrates just how confident and cocky, misguided Madoff was in wrongfully believing he would never be caught.

He is heard telling the caller the standard crooked disclaimer favored by criminals, "This conversation never took place" - before proceeding to spout off how easy it is to dupe the S.E.C.