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.
John StosselWe have all kinds of government compensation systems that are much more efficient than the lawyers.
John StosselMadoff's scam was small compared to Ponzi schemes the government itself runs: Social Security and Medicare.
John Stossel