Madoff "We didn't have much success with the people from MIT."

James Pence Videos

Madoff Quotes:

• "In today's regulatory environment It's virtually impossible to violate rules." 

• "It's impossible for a violation to go undetected." 

• "We didn't have much success with the people from MIT." They spent too much time thinking."

• "We determined that the best thing for us to do was basically to take the human being out of the equation."

• "When you take the human being out of the equation you solve your regulatory problems."

• "I guess you could also program the computer to violate the regulations, but we haven't gotten there yet."