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He was the investor with the Midas touch. Nobody knew how he did it. And now we find out he didn’t. Do it, that is. It was all a giant Ponzi scheme, a big-stakes grift. How did he get alway with it for so long? That answer is easy. The lack of regulation in the America’s economic system. Free markets and investor savants are given free reign. And we inherit the wind. Same song, a different verse. Greed, like pride, goes before a fall.

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One Comment

  1. So total depravity is checked at the door of the markets. Who regulates the regulators? Rod Blaogjevich? Your easy answer is the wrong answer. The markets correct themselves and put disciple back into the system. How many investors are checking up on their hot shot investment advisor? How many people are remembering that if it is to good to be true, you might want to check it out further and deeper? Government regulators lull people to sleep with a false sense of security. Greed, in the markets, is regulated by fear. The pride that a governmental regulatory system, with the efficiency of the post office, can take away the fear, sets the stage for greed.


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