Can some erudite soul, please tell me what is Bernie Madoff’s crime? He promised people a steady 10% return on their money, and paid old timers off with money from the young ones. Yo ! our Government is doing the same thing and paying only 6% on the long bond. Is there really any difference? Bernanke et. al. do not promise a risk free guaranteed investment, neither did Bernie Madoff. Bernie goes to jail Bernanke et.al. get a nice Federal retirement. Why the difference? Do we have one set of laws for the government and one for the people…..In the land of/by/for the people? The sad truth is that our kids will be presented the bill for our fraud, just as Bernie’s investors were given theirs. I don’t think our kids will appreciate any of these esoteric differences. They will hold Bernie, and Bernanke et.al and us all equally in contempt.
150 Years ???… Where is the Crime?
Less than 1 min.
