Madoff... maintained that family members knew nothing about his crimes. But during a private two-hour interview in a visitor room here on Tuesday, and in earlier e-mail exchanges, he asserted that unidentified banks and hedge funds were somehow “complicit” in his elaborate fraud, an about-face from earlier claims that he was the only person involved....

Although Mr. Madoff swore in court that he had carried out his elaborate fraud on his own, his accountant, David H. Friehling, and Mr. Madoff’s senior lieutenant, Frank DiPascali, have pleaded guilty and are cooperating with prosecutors. Five other former Madoff employees have been indicted; they have asserted their innocence and are awaiting trial.

This is really rather fantastic. So not only is Madoff now talking about others being "complicit" (and repeatedly having to backtrack on such statements), but others have admitted to guilt in the Ponzi scheme. Yet the government still seems happy to treat this as a "one man fraud", which is laughably impossible.

That suggests there is in fact a reason for the fairy tale, in terms of the interests of the power elite.

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