Filed Under: Anything Peaceful
Tags: deregulation • Madoff Scandal • regulation
Maddow on Madoff
Here is an email I sent today to Rachel Maddow of MSNBC. It refers to her coverage last night of the Bernard Madoff story which condemned “deregulation” for letting Madoff get away with his alleged scan.
Dear Ms. Maddow:
Why do you call the government’s failure to pursue fraud allegations in the Madoff case “deregulation”? Laws against fraud–that is, against the acquisition of someone else’s property by deceitful means–have never been regarded as “regulation” or limits on free-market activity. They were simply part of the free market’s common-law prohibition against violating person and property. Regulation, on the other hand, consists of government interference with private parties setting their own nonfraudulent terms of exchange in the market.By equating abstention from investigating fraud with laissez faire, you have allowed your ideology to blind you. Maybe this would be a good topic for discussion on your program.
Comment by Nicky Cheese on 6 February 2009:
And when I advocate for freedom, I’m advocating for murder.
Comment by Beasleys Brother on 6 February 2009:
Yea I can not wait for that response. She is scary.
Comment by Sheldon Richman on 6 February 2009:
I am not expecting a reply. Judging by her show, she doesn’t seem eager to talk with people who disagree with her.
Comment by Beasleys Brother on 6 February 2009:
Nope, of course not.
Comment by Dan D. on 6 February 2009:
Was it possible that Madoff pulled of the largest ponzi scheme in history alone? I think that is unlikely considering how much money was changing hands. Eventually somebody had to notice that the only money coming in was from investors. Or were too many people simply blinded by their greed? If that is the case, Madoff’s employees and associates should have noticed that something fishy was going on long before now. Seventeen years is a long time. http://www.weeklypoint.com/2009/02/06/how-many-people-knew-about-madoff-scandal/