From the WSJ:
People familiar with the firm say Madoff employed 200, with 20 or so in the asset management group that was housed in a separate floor from the trading group.
I think we need to hear a lot more about those 20 people. What did they do? It seems inconceivable that none of them ever saw what was in front of their faces all along, which implies that this fraud wasn’t a one-man operation. But then again, it’s $50 billion, that stands to reason.