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?