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Tuesday, December 16, 2008

Heaven on Earth


Madoff Investors May Be Protected By Government

Judge Says Those Duped Need Aid Under The Securities Investor Protection Act
...[A] federal judge on Monday threw a lifesaver to investors who may have been duped, saying they need the protection of a special government reserve fund set up to help investors at failed brokerage firms.

U.S. District Judge Louis L. Stanton ordered that clients of [Bernard] Madoff's private investment business seek relief under a federal statute created to rescue cheated investors. Stanton also ordered that business be liquidated under the jurisdiction of a bankruptcy court and named attorney Irvin H. Picard as trustee to oversee that process.
In our Brave New World no one has to fear making a lousy investment, even in one like Bernie Madoff's Ponzi scheme that claimed whopping double-digit per annum "returns." In our Brave New World due diligence is a thing of the past. If you can't be bothered to check into where you place your millions, even if for years there are suspicions dirty work is afoot, forget about your worries and your cares: if you lose it all, run, don't walk, to our government, state your losses and receive a check, courtesy of of the great unwashed.

After all, if Wall Street morons clutching their MBAs can destroy our country's financial system; if incompetent management and greedy unions can do similarly to our auto industry and all be ransomed by the rest of us, so can the hapless individual millionaire, it's only a matter of fairness (and shame on you for thinking otherwise). If the poor of this nation can be saved by Daddy Grace the Government, why not the rich?

Surely we are the greatest generation ever: we don't need heaven above, we can save souls right down here, thank you very much.


Addendum: Mere happenstance but at the bottom of the linked story is this image:

"Guarantee happy:" Truly the creed of a godless society.

(Thanks to For What it's Worth)

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