By: Vulture (cross-posted from The Vulture Lurks)
February 28, 2011
In an interview that can only be characterized as the pot calling the kettle black, Bernie Madoff compares his crimes with those of our government.
Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.
“The whole new regulatory reform is a joke,” Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators.
Ponzi scheme? I guess it takes a Ponzi-schemer to know one.
And who can argue with him? Social Security is a total Ponzi scheme. The same can be said of virtually all of our “entitlement” programs.
The current direction our government is taking us in leads to financial meltdown and will leave this once-proud nation in ruins. Don’t take my word for it. Read Vox Popoli on a daily basis and you’ll come away as pessimistic about the future as I am.
The American experiment is not going to end well.
- Madoff Calls Government a Ponzi Scheme (abcnews.go.com)