He pointed out that BMIS reported only seven small monthly losses over 174 months (14.5 years) (Shafritz, Russell, Borick 2013). The SEC did not follow up on any of his information. Markopolis said he "gift-wrapped them and handed them the largest Ponzi scheme in history and somehow they didn't bother to conduct a thorough and fair investigation because they were too busy on higher priority matters (Shafritz , Russell, Borick pg. 350).” During the subcommittee hearings, it was argued that the SEC is too close to the big players in the financial world, causing confusion within the commission. The SEC was slow to respond to suggestions about Madoff's Ponzi scheme because it did not have the right employees SEC relied more on a group of young lawyers and long-time government employees to do its business (Shafritz, Russell, & Borick, 2013. Ultimately, Bernie Madoff couldn't keep up with all his lies when the economy was bad. He turned himself in before anyone in the SEC launched an investigation into his Ponzi scheme. Markopolis said in a 60 Minutes interview: “Usually the SEC does this. They come after the crime committed, they mark the victims, count the bodies and try to figure out who the criminals were, after the fact, which does no good to any of us (the Bernie Madoff interview, the SEC made changes to the its enforcement division to ensure it focuses on cases that will have a significant impact. The agency has updated the way it handles reports and complaints, monitoring and analyzing all the information it comes into possession of. The agency is working on a future system to apply data analytics to its information so the agency can be more proactive in spotting fraud (The Securities and Exchange Commission Post-Madoff