Saturday, December 13, 2008


The glorious wheels of capitalism keep turning as the neoliberal economists tout how perfect the work would be in a regulatory anarchy where the "invisible hand" (probably the most misused phrase in history - some say Adam Smith possibly meant this to be taken tongue-in-cheek relative to the rest of his rigid text, although this phrase is widely quoted) once again is left to control the markets of free will. Things work smothly in a perfect work, but unfortunately there are such factors as greed, deceit, corruptness and all the other evil things that money seems to nurture in many people.

I speak of Bernie Madoff, a filthy businessman that basically screwed over everyone and anyone that ever entrusted their investments with the hedge fund he managed. And not just capitalists; many of the people were invested in his hedge fund were foundations or non-profits in search of above-market returns but willing to forego basically any accountability requirements or regulatory oversights. The free market once again stumbles.

Furthermore, it is so sad that sad that people such as Madoff will only go to medium security prison for less than twenty years when they've destroyed the lives of thousands. I guess white-collar crime does pay. I've never been that satisfied by material things enough to perform such heinous acts as those of Bernie Madoff. When layers of regulation are added to our already overwhelming overburdened regulatory system, we will have people like him to thank.

Sorry about the rant, it's just that scum like him make me sick. Time to get ready to go to a party tonight.

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