By now we know that Maddoff was running the world's biggest Ponzi scheme for 13 years AFTER SEC officials were alerted to him by whistleblowers with mountains of evidence.
It's way bigger than Enron (about $14 million), to tune of between $30 and $50 Billion (with a B). But somehow, it's no big deal. Just one big shrug. We've been here before. We're already in a world of hurt, what's one more? Maybe if the economy hadn't collapsed so completely that the Federal Government is handing out bonds at 0% interest, this would be more shocking.
But somehow it's not. Somehow we knew that all the legislation passed after Enron wouldn't make a difference. And it hasn't.
So that's laissez-faire capitalism at work. Frankly, I'm ready for some socialism.
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