“Prosecutors Go After Those Pushing Get Rich Quick Schemes After the Bottom Falls Out, After the Thing Has Collapsed and All the Investors Have Lost Their Money And Are Angry. You Will Go to Prison AFTER the Next Crash, Not Before.”

Set forth below is the text of a comment that I recently put to a blog entry at this site:

If the various acts of fraud have occured, as you allege, why have prosecutors failed to bring charges?

Why were charges not brought against Bernie Madoff for so many years?

His fraud was no secret. There was an accountant who had looked at the numbers and sent a letter to the SEC letting them know that the fund was a fraudulent enterprise. Why did the SEC not act?

Bernie was popular, Questions. He was pushing a Get Rich Quick scheme and investors LOVE, LOVE, LOVE Get Rich Quick schemes.

Prosecutors go after those pushing GRQ schemes AFTER the bottom falls out, after the thing has collapsed and all the investors have lost their money and are angry.

You will go to prison AFTER the next crash, not before.

That’s the way it works. That’s the way it has worked with every economic crisis caused by the ruthless promotion of Buy-and-Hold “strategies.” There is nothing even a little bit new in this.

Rob, the Fellow Who Doesn’t Need to Worry About What Will Happen to Him After the Next Crash Because He Started Insisting on His Right to Post Honestly Years Before