Friday, December 12, 2008

$50 Billion Ponzi Scheme

As if news of the collapsed auto bailout won't won't be bad enough on stocks today, news comes that former NASDAQ chief Bernard Madoff was arrested and charged with running a fraudulent investment scheme to the tune of $50 billion. $50 billion, that's almost $20 billion more than when Enron tanked in 2001.

Vermin like this guy make the case for a free market system that much tougher.

4 comments:

Anonymous said...

"Vermin like this guy make the case for a free market system that much tougher."

No.

Vermin like Madoff make the case for swift, public executions that much easier.

Goldwater's Ghost said...

Easy Trotsky...no need to start executing the Bourgeoisie just yet.

GG

Anonymous said...

Hey, I'm no Trotsky-ite!

My heros are Goldwater's Ghost, Captain Capitalism, and the Conservative Wahoo.

I just think the markets would regulate themselves if the pieces of crap like Madoff knew they would face swift execution for their crimes

Goldwater's Ghost said...

Ah, I knew I'd eventually smoke you out...

Perhaps you're on to something - country club prisons don't seem to be much of a deterrant to this slime (assuming he sees any jail time at all)

GG