To the proposition:
IF America is ruled by money, and money is ruled by fools, should this form of government be termed a Moronogopoli?
How would you frame a dissenting view?
Surely not on the record of cough-cough "Investment banks" who shoved money by the truckload at great liars with window-dressing skills? Sic really transit gloria mundi. And in your lifetime, Baby.
A Moronogopoli is not to be confused with democracy, which is not inevitably (by it's very definition) a government of many evils, or "the worst form [thereof]" in that scoundrel Churchill's dictum.
But a democracy which has selected money as the golden rule by which it measures all/most men is doomed to falter in it's fiat.
Take the case of Bernie Madoff....
Gotcha! I knew you would. Let me run it past you just one more time.
We are asked to believe that a Mom & Pop outfit kept at least three sets of books, Mom making all the ledger entries, issuing the client statements, shoving the revenue checks out the door (by the ikload)until ooopsie the tide of cash in which they were awash began to ebb.
Such that this golden scheme for doing well by doing good couldn't meet a £7 billion redemption call, having lost - through Mom's unconquerable diligence - £50 billioni? Is Mrs M gifted with rare innovative abilities in the domain of IT programming? She could have been lecturing at MIT, a big name with heavy staffing and admiring, successful students, and instead there she was stuck in a cluttered backroom fiddling three sets of books with not even the time to go to the hairdresser, let alone shop or cook the Kosher yummies which, back in 1996, she had time to devise. Will we pass on that theory as an explaining factor? Ease of reporting so many results would of course require that monthly gains remain steady, and no surprise: they did.
But even SuperMom can't really explain Berne's secret. I think I can:
Fiddle-dee diddledy dee!
Bernie's fund didn't charge fees!
Traded insider news,
You just couldn't lose,
So now don't come whining to me.
"Investors" want a bail out, they point furious fingers at fiduciaries' failures, but the fact is that neither they nor Bernie properly evaluated risk.
And to the question Who helped Bernie? there is only one obvious answer: anyone who possibly could, that's who.
Morons.