Every conceivable regulatory mechanism, under the supervision of both U.S. political parties is buckling under the sheer unstoppable power of human stupidity:
I’ve witnessed major traffic accidents, and seen video footage of huge explosions, train wrecks, structural collapses, building implosions, and other catastrophes—but they usually only take up a few seconds, at most. Now we are being required to watch as the world’s economic structure groans and pops and flexes and turns blue at the edges under the massive strain of billions of megatons of metaphoric domestic fowl landing on it one at a time, over days, and months, and probably years….can we speed this up a little guys? Maybe finally admit that nobody out there who has arrogated to themselves to authority to govern actually has the slightest idea what they’re doing? Step out of the way and let everyone panic now, and just get on with it?
As for Madoff, I really don’t see what the big deal is about this foolishness in particular. The U.S. government has been operating a “Ponzi scheme” for decades, with no one the wiser—it’s called Social Security.