liberal larry | 7:28 a.m. March 29, 2009
More drivel from everson. The point of this whole Ponzi scheme, fiasco has more to do with responsible enforcement, than regulation. The SEC had plenty of warnings to investigate Madoff, and like many government regulatory agencies, under bush, it failed to do its job. The financial markets will always need fair and transparent regulations.
Fix the system | 8:49 a.m. March 29, 2009
Those who call for enforcement
must understand
that a world ruled by capitalism
will only respond to its god:
the all mighty dollar or whatever
form of monetary exchange is available.

Those who call for more regulations
probably need the money to back the
regulations up and be prepared to
personally spend the remainder of
his/her existence fighting to enforce them.

A system of honor, respect, responsibility
can only work if those traits still
exist to support it.
These are not really personality traits
that can be forced upon people.
These very desirable traits can be destroyed
by those who consistently take advantage.
The system is being used as a weapon
on a daily basis by those who will
take advantage against those who won't.

There are not so many who see the flaws
in the system who are willing to repair it
instead of using it to their own advantage.

The question remains then, whether those who call
for more regulations could:
(1) Fix the problem themselves, and
(2) If they could fix it, why didn't they?
Ultra Bob | 9:53 a.m. March 29, 2009
Regulations can't make world safe from con men, That doesnt mean that we shouldnt try to hold to the rules of our society.

The first thing is to understand just how Capitalism works and what we are trying to do with it.

What most of us want in an economic system is a fair distribution of the benefits (wealth?) based mainly on the work efforts of our individual citizens.

Capitalism seems to be the best system for now. But we must realize that the nature of men is to desire more and more (greed?) and therefore will oppose the rules that reduce the advantage that they may have due to some act of fortune such as being born rich.

We must also understand that boom and bust are a normal part of the capitalist strategy in their efforts to get ahead of the other parts of our society. Capitalists create the boom and bust (inflation and deflation of money) as part of the way to move wealth and money from someone else to themselves.

Since most of us feel that this is an unfair and painful tactic we would like to make a rule that prevents it.
Comments continue below
Anonymous | 10:18 a.m. March 29, 2009
Ponzi schemes aren't capitalism, they are fraud. They undermine capitalism by eroding our faith in markets. Capitalists should support strong enforcement efforts by the SEC and the FBI (including giving them more personnel to do their jobs). Capitalism can thrive only if investors believe the markets are not crooked.
Thomas | 5:04 p.m. March 29, 2009
All of the above comments are valid. The tragedy is there is no real defense against dishonesty except for being honest in and of ourselves. Every crime begins with a lie.
Ultra Bob | 5:50 p.m. March 29, 2009
yea Anonymous.
Fix it | 11:47 p.m. March 29, 2009
Regulations can't make the world totally safe from Ponzi schemes, but regulations can make it harder for them to succeed and thrive. Regulations only work when they are enforced.
Too many regulations were undone by Gramm Leach Bliley and the Commodities Futures Modernization Acts of 2000.

Jim Janney | 10:09 a.m. March 30, 2009
The Glass-Steagall Act wouldn't have prevented Madoff, but it probably would have prevented AIG -- if we hadn't cleverly repealed it in 1999.
@ "Ultra Bob | 9:53 a.m." | 1:56 p.m. March 30, 2009
Ultra Bob | 9:53 a.m.

You seem to look down your nose at "those who want more (greed?)", who, "oppose the rules that reduce the advantage that they may have due to some act of fortune such as being born rich".

Why all the scorn for people who have been born "rich"? Is it their fault?

Most people in America who become rich do it by providing great products or services. We don't really have an aristocracy here (like they do in Europe).

Anyway... the agenda to tear down anyone who is successful or rich just seems counter-productive and vindictive to me.

Even IF we were able to remove all "greed" from human nature... What would be the motivation then? Do YOU work harder and take on more responsibility, etc, and never expect a raise for your efforts?

What would be the motivation be in your dream-world where there was no greed, no-one got an advantage at birth (and if they did you or the State could take it), where everyone got paid the same, no matter how hard they worked or how good they are at their job? They just work_harder_and_take_on_more_responsibility_to_advance_the_State In_the_hopes_that_they_can_then_turn_around_and_dole_out_more_to_you_and_your_family_and_all_families_in_the_state?

Add your comment

Comments are monitored. Any comments found to be abusive, offensive, off-topic, misrepresentative, more than 200 words or containing URLs will not be posted.

Words Remaining

E-mail address: For internal use only. We may want to contact you to publish your comment (not your e-mail address) in the newspaper or for a separate story idea.

Advertisement
previousnext

Latest comments

Vanishing languages a 'tragedy'

I am a Bilingual (Spanish/English) North American who speaks Quichua/Quechua...

To: Jeff | 1:13 p.m. Nov. 12, 2009 You are entitled to YOUR beliefs. But...

Bennett at center of GOP storm

But not glad to see the Republicans eating alive their best statesmen and...

Bennett at center of GOP storm

You posters are mostly nuts. You seem to think that by sending a new group...

Utah's Opponents (that Utah has beaten) are a combined 27 Wins and 54 Loses....

That's the whole point. The definition does not fit. The LGBT fits the...

Vanishing languages a 'tragedy'

I am not from Utah, nor do I intend on staying around more than a few more...

3A: Hurricane advances to title game

You are very wrong miner nation,coaching did blow this game for us and thats...

Clash shows faith-reason dichotomy

Let's not overstate the negative side of religious zealotry. During the...

TCU creams U.

Air Force. That is it. Utes have only beaten ONE team with a winning record:...

Advertisements
Advertisement