The Nimble British Bureaucracy

Bloomberg.com: U.K. & Ireland | Bernie Madoff is Disqualified in the UK

This reminds me of a very politically incorrect Buddy Hackett joke. 

The Poles and the Italians are playing football. The lunch bell at the nearby factory goes off. The Italians think the game is over, so they leave the field.

Two plays later, the Poles score.

So, we got a guy out of jail and under house arrest, and the speedy British Financial Services Authority finally deems it worthwhile to disqualify the man from providing financial services in the United Kingdom. 

Of course, their failure to scrutinize the scoundrel Madoff for ten years (just like the SEC‘s failure) explains the doldrums of the British economy quite well. The results of the peculiar experiment are quite unequivocal: the American model doesn’t work. The only economy in the European Union to have emulated the American model of “capitalism” (corruption masquerading as capitalism, to be honest) is now failing like the American economy. 

No thanks to Bernie Madoff and the “capitalistic” governments that tolerated and deified such scoundrels.

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