Thursday, July 2, 2009

Madoff as Fed Chairman

Bill Bonner sees little difference between Madoff's "extraordinary" fraud and the activities of government:
But, what is the point of keeping Madoff in prison? He represents no threat. Rather than pay $30,000 per year to keep him locked up, we suggest that he be forced to do community service work. He should be pressed into service as the next head of the Federal Reserve after Ben Bernanke’s term expires in December. With Madoff in the big office, there would be no longer any illusions about what sort of bank the Fed is running.
This would qualify as satire if it were a little further from the truth.

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