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Federal Regulators Repeatedly Failed to Stop Bernard Madoff - But Now Want Even More Control Over Our Lives?

By Timothy H. Lee
Thursday, September 10 2009

The embarrassing saga of federal regulators’ failure to stop Bernard Madoff’s multibillion-dollar Ponzi scheme despite multiple inquiries and tips provides a very timely lesson. This week, the Securities and Exchange Commission (SEC) released a 477-page report admitting that it overlooked repeated tips and red flags on Mr. Madoff dating all the way back to 1992. At that time, the SEC investigated two Florida accountants who had funneled dollars to Madoff, but curiously chose to prosecute the accountants while taking no action against Mr. Madoff. According to their…

	First, Obama and Company bought off the drug companies. Then the hospitals. By the time they got…
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A Victory for Free Speech or More of the McCain?

	This week, the U.S. Supreme Court heard arguments in Citizens United v. Federal Elections Commission. …
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California’s Warning for America

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Anything You Can Do the Fed Can Do Better?

	President Obama has now nominated Federal Reserve Chairman Ben Bernanke to a second term as the head…
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Taking Stock of the Obama Revolution

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Obama’s Latest "Never Mind" - $2 Trillion Deficit Recalibration

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Help Wanted: CIA Director

	Memo To: Rahm Emanuel From: O Looks like Panetta may quit before we can fire his ass, so you…
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If the Public Option is Dead: Then What?

	This week, opponents of a government-run health care system welcomed the news that President Obama might…
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Statism’s Waterloo

	If a revolution takes root throughout the country and no one in Washington hears it, does the revolution…
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Waxmanism, the New McCarthyism

	Since over-the-top name calling is the new sine qua non (see Boethius) of public policy debate…
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"The most likely scenario for next week's election is ... that no one will learn anything. I can say that with some degree of confidence because in the last five election cycles or so, the learning curve has been so flat that if it was a politician's posterior, President Trump wouldn't even notice it. Campaigns, individuals, parties and super PACs are going to have spent northward of $12 billion…[more]

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