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

We have all kinds of government compensation systems that are much more efficient than the lawyers.

The people who tried government regulation have lives which are miserable.

Politicians and bureaucrats clearly have no idea how complicated markets are. Every day people make countless tradeoffs, in all areas of life, based on subjective value judgements and personal information as they delicately balance their interests, needs and wants. Who is in a better position than they to tailor those choices to best serve their purposes? Yet the politicians believe they can plan the medical market the way you plan a birthday party.

Current government regulation interferes with honest voluntary exchanges by imposing arbitrary terms and requiring tons of paperwork disclosing information no one wants anyway.

People vastly overestimate the ability of central planners to improve on the independent action of diverse individuals. What I've learned watching regulators is that they almost always make things worse. If regulators did nothing, the self-correcting mechanisms of the market would mitigate most problems with more finesse. And less cost.

Life is fairer when individuals are free to make their own decisions