Madoff says government is a Ponzi Scheme

NEW YORK – Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.
"The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators.
The interview was published on the magazine's website Sunday night.
Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information.
He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme." end quote.

Actually, with the government presently operating on the basis of the "Foxes guarding the henhouse" I agree that if regular citizens allow the regulators of banks and wall street to also be wall street and bank insiders then "How can we expect any other result than the government being a Ponzi scheme?"

So, because the "Foxes have been guarding the Henhouse since at least 2000 or before that" in regard to Wall STreet and Banking in the U.S. it is only a matter of time before the whole system either collapses or Americans demand proper policing of their banks and Wall Street. Otherwise, it is only a matter of time before the 2nd Great Depression begins worldwide for real.

Later: My wife who has a Master's Degree in Business Administration and who was also the validictorian of her prep high school says that the problem of a 2nd Great Depression won't be in the next 5 to 10 years because everyone worldwide is watching. The problem will probably occur within 15 to 30 years from now when a 2nd Great Depression could occur because the real problems have not still been addressed in the banking industry or Wall Street not only in the U.S. but mostly worldwide as well.