Quote du Jour: Madoff for the Fed?

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Bill Bonner (The Daily Reckoning) said: “While Bernie is behind bars, the SEC and FED officials are still at large. Both are clearly guilty of dereliction and negligence.

“But, what is the point of keeping Madoff in prison? He represents no threat. Rather than pay $30,000 per year to keep him locked up, we suggest that he be forced to do community service work. He should be pressed into service as the next head of the Federal Reserve after Ben Bernanke’s term expires in December.

“With Madoff in the big office, there would be no longer any illusions about what sort of bank the Fed is running.”

Source: The Daily Reckoning, June 30, 2009.

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