Strengthening Constitutional Self-Government

No Left Turns

Shades of 1929

German billionaire commits suicide over investment losses. We’ve already seen one such suicide connected to the Madoff mega-scam, and I suspect it won’t be the last.

Speaking of which, the Madoff scam is supposed to be the obvious predicate for "more regulation." But the existing regulators at the SEC looked several times and missed it every time. Question: Why is it that, whenever government regulation is shown to have failed, the default position is that we need more and better regulation? If our More and Better Regulators really got close to unraveling Madoff, wouldn’t he just get a couple of Senators to intervene, the way Charles Keating did with bank regulators in the 1980s? What do we pay these senators for, anyway?

Discussions - 2 Comments

But did the SEC really, REALLY look at Madoff Steve?

Would you bet the farm on that one?

The SEC looked at madoff long enough to get their share. Since they handle the investigation I doubt we will be privy to what that was. As for paying the senators, I doubt our combined contributions are close to the fringe benifits that people like madoff or Monsanto Corporation pay to our senators. How is it not a conflict of intrest to have to a national security advisor who worked at royal dutch shell and a vp who got checks from haliburton handling a war where their 'former' employers stand to gain so much? I guess they are just better people than you and I and are able to breath that rare air of objectiveness. You could not write a satire of the past ten years of American History because the truth is so outrageos that merly pointing out the facts seems crazy. Seriously though, Was it always like this?

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