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Madoff's scam was small compared to Ponzi schemes the government itself runs: Social Security and Medicare.

John Stossel

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John Stossel
Age: 77
Born: 1947
Born: March 4
Journalist
Reporter
Television Presenter
Writer
Chicago Heights
Illinois
John Frank Stossel
Security
Small
Social
Scam
Running
Scams
Government
Medicare
Schemes
Runs
Compared

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Fraud will always exist. Enforcement of anti-fraud laws is a useful deterrent, but in the end there's no substitute for investor vigilance. Government regulations provide a false sense of security - and that's worth less than no sense of security at all.
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Where I live in Manhattan and where I work at ABC, people say conservative the way people say child molester.
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