Why is it when the working guy in Detroit loses money, it’s all about survival in the marketplace; however, when rich people lose money, they get lawyers and demand more regulation and more accountability from the SEC?
I’m just saying, yo.
Detroit v. Madoff
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Uh, do you really need an answer to that?
I thought Ponzi schemes and forging documents to the SEC were already illegal. What more regulation do you need?
It’s a tribal thing, of course: the wealthy and powerful can usually count on their fellow plutocrats to help circle the wagons, regardless of cultural or political leanings, always and everywhere throughout history.
I wrote a research paper in law school years ago about the Homestead Strike of 1892, and I was amazed by the level of naked collusion among the business owners, the political establishment and the legal system. Since then, I’ve seen the pattern repeated over and over again. Like Neilochka says, the answer’s a given.
Bulls on parade, my dear. Bulls on parade.
I saw an editorial cartoon today on ponzi schemes. The caption under the federal government buildings said, “Ponzi schemes are illegal?”
My 401k TPA has been insignificantly impact. According to their initial press release, 0.3%. None so for in retirement services.
Really, how much different is social security than investing in a Madoff?
@neilochka No, no answer required.
@Nick So much is illegal (sorta) and is never prosecuted. The one thing that’s not illegal? Greed. God bless Gordon Gecko!
@Ktropic I love how it’s tribal. That’s awesome.
@Jenn Rally round the family, pockets full of shells
@RSM I’m not sure where to invest my money, these days, except in kitties.