Bernard Madoff’s alleged Ponzi scheme and the need for regulatory reform will be the subject of a hearing today before the House Committee on Financial Services. Just to recap, the Wall Street financier and former Nasdaq chairman was arrested December 11, 2008, charged with a $50 billion investor fraud – possibly the largest ever committed by a single individual. All indications are that the scheme’s collapse will fuel litigation on a number of fronts. In fact the D&O Diary has already created a running list of Madoff Investor and Feeder Fund Litigation. On January 14 Nera Economic Consulting is sponsoring a Securities Docket webcast that will address critical questions from this event, such as how much money has been lost and what avenues of possible recovery exist. Also check out I.I.I. background info on the liability system.