"There are rules in place that are virtually impossible to violate."  "I'm very close to regulators." These are some of the stunning lines you can hear from Bernard Madoff, the $50 billion Ponzi schemer, as he sits relaxed in an armchair at a 2007 roundtable discussion about his firm. With hindsight of the massive criminal BS session actually in progress, it's fascinating, disturbing and repellant to listen to him and his team spin their insidious web of investment "logic" while the audience naively falls for it, as did so many of his now devastated clients.