Come for the Politics, Stay for the Pathologies

Wednesday, September 9, 2009

Your Money Or Your Health: Are You Feeling Lucky?

Tonight we’ll hear from the President why we should all bow at the altar of government for one of the most important aspects of our life: healthcare.

So let’s see how well the government regulatory bureaucracy has worked in another arena. Enter Bernie Madoff. In the wake of the largest ponzi scheme to date, the SEC - that botched multiple tips and accusations regarding Madoff’s illegal operations - launched an in-depth investigation. They announced the results over the long Labor Day weekend with this mind numbing revelation:

“The Enforcement staff failed to appreciate the significance of this revelation that NASD had no records of Madoff holding any of the OTC options position he claimed.”

Is it just me, or is this just about as basic as it gets in an investigation of fraud involving securities? Maybe about as basic as beginning chemo treatment when cancer is found, instead of waiting 18 months to see if it will go away on its own.

Note: The too Dewey’s are on the road this week, currently in Las Vegas (don’t ask) so postings will be a bit sparse. All this noise, all these lights and twirlly things make our brain synapses unreliable. But we do assume that 09-09-09 must mean something so we’ll try our lucky number on the Roulette table, and let you know how that worked out for us. We suspect it’s more of a sure thing than Obamacare.