Bernie Madoff has some ideas on how to clean up Wall Street

In this interview of Bernie Madoff he gives some advice to investors to protect your investments. Among the tips: indexing is probably best way to go Some other ideas: 1) SEC needs more investigative resources. He says they don't have resources to investigate people like him, and even then rarely have good talent to catch dedicated scammers like himself. 2) Quote of Madoff: "Brokerages and advisers should have independent custodians and the government should have forced me to have an independent custodian." 3) Hedge funds should be registered. 4) Accounting firms should audit each other's audits to verify they're done correctly. Quote: "a proper audit would uncover most of the fraud that exists — including my own fraud."