While investigators try to determine just how much money investors lost to Bernard Madoff, and regulators wonder how they could have missed such an outragous fraud, I am reminded that economic downturns have a tendency to uncover frauds that have remained hidden during the good times. So, in addition to asking whether capitalism has had its day (see other thread) I wonder what further financial scandals have yet to reveal themselves, where they are taking place, and whether they will match Madoff's pyramid or tower over it.
mkemse
12-15-2008, 06:43 PM
Intresting post, the just had a aritcle on yahoo news that a Federal Judge ordered seisure of all of Madoffs properties as well a complete ligiudation of his holding company and as i understnad it the SEC and Fed Goverment will gurantee thhat those who were scammed will get most if not all their money back
There will always be some type odf Scam, it is pat of the Ameircan way as much as I hate to admit it, capailism will continue and govemrent intervention will last only so long
Additional, The goverment today told Chrysler if they are bailed out, they will have a small windows to payyhem back if that windows if not met, the loan will be recalled and they(The Goverment) will allow all 3 to go backrupt
But rmember unlike Ford and GM Chrysler is a Privately owned Corp. but the Goverment will all Capaitalism to conitune without their inteference once things settle down, the question when will things start to settle down??
If I inadvertently Hijacked this thread withthisreply, my apoogies, seems like all these are combinedi not 1 basic one, how far do we go in bailing out, companies?? Capatalism will survive in 1 form or another in time