What made Madoff dangerous was too much — not too little — regulation
Market pundits are already whining — wrongly — that the Madoff scam proves that markets need more regulation. Here, for example is Tim Rutten, writing today in the LA Times:
Is Sharia law now enforceable in the United States?
Say what? The TimesOnline reports today that through the mechanism of private arbitration the government of the United Kingdom now enforces Sharia law in civil and family law cases where the parties have previously agreed to be bound by Sharia court rulings. At this point, readers may be wondering why the headline of this post […]