Classic moments in post-capitalism, #143
From a press conference with the chairman of the SEC, Christopher Cox:
Reporter: "Can investors be confident that there aren't any other Madoff schemes out there in operation?"
Cox: "We say that a rising tide lifts all boats. When the economic tide goes out, some of the skeletons that wash up on shore are Ponzi schemes such as this one. So one of the ways that these things are unhappily discovered is the roof falls in because of market conditions. "
Oh, if only we had an organization designed to regulate the markets, to catch and to punish fraud!
Christopher Cox needs to jump off of a fucking building.
Reporter: "Can investors be confident that there aren't any other Madoff schemes out there in operation?"
Cox: "We say that a rising tide lifts all boats. When the economic tide goes out, some of the skeletons that wash up on shore are Ponzi schemes such as this one. So one of the ways that these things are unhappily discovered is the roof falls in because of market conditions. "
Oh, if only we had an organization designed to regulate the markets, to catch and to punish fraud!
Christopher Cox needs to jump off of a fucking building.