Via Carpe Diem.
The key difference between Madoff and social security, of course, is that we are all compelled to participate in social security while you could invest with Madoff of your own free will. The broader significance here is that while the free market is not perfect, that when you lose money its your own.
When the government messes up, we all lose even if we had nothing to do with the decision making process.
Another interesting take on the scandal here. Like they say, it's hard to cheat an honest man.
The key difference between Madoff and social security, of course, is that we are all compelled to participate in social security while you could invest with Madoff of your own free will. The broader significance here is that while the free market is not perfect, that when you lose money its your own.
When the government messes up, we all lose even if we had nothing to do with the decision making process.
Another interesting take on the scandal here. Like they say, it's hard to cheat an honest man.
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