Thursday, December 18, 2008

Poor Enforcement Costs Billions

Bernard Madoff stole $50 billion from investors through his crooked hedge fund. There are certainly more cases like this out there.

The Madoff scheme cost the government about $17 billion in lost taxes. The auto manufacturers are asking for $14 billion, and the government is still deliberating about how to pay it.

Maybe better enforcement of regulatory laws would actually be a good source of revenue for the government, in a time when we need all the cash we can get.

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