Comments on: Liars and Hedge Funds. Do I repeat myself?

By: The Worst Predictions About 2008 | Crawling Road

The Worst Predictions About 2008 | Crawling Road — Fri, 09 Jan 2009 07:03:53 +0000

[...] a year later, Madoff — who once headed the Nasdaq Stock Market – told investigators he had cost his investors $50 billion in an alleged Ponzi [...]

By: Permanent Portfolio Results 2008 - A Disaster Averted | Crawling Road

Permanent Portfolio Results 2008 - A Disaster Averted | Crawling Road — Thu, 01 Jan 2009 08:13:47 +0000

[...] country, went broke. Bernard Madoff, one of the founders of NASDAQ, admitted his hedge fund was a $50 Billion Ponzi Scheme. The Treasury Secretary and Fed Chairman openly talked about The End of The World As We Know It if [...]

By: craigr

craigr — Mon, 15 Dec 2008 07:10:32 +0000

@scott Hi Scott, Thanks for visiting and commenting. There's no doubt about it that free markets work better than bureaucrats.

By: scott

scott — Mon, 15 Dec 2008 07:03:11 +0000

Sound advice.

With the Enron case, it’s interesting to note that a private-sector financial analyst exposed the company’s fraudulent books — not a bureaucrat working with one of the regulatory agencies responsible for monitoring the company’s activities. Furthermore, punishment for Enron’s misconduct didn’t require regulatory sanctions — the market’s verdict was swift and decisive, as Enron’s stock plummeted to cents on the dollar within 24 hours.

Congratulations on the new blog, Craig. Keep up the good work.