Madoff

The exposure of Madoff’s Ponzi scheme, while astounding in its extent, is just a symptom of the present meltdown in the Capitalist system. In my opinion, it shows the ultimate staying power of that system, where wrongdoers are eventually found out and caught. It should be clear that Madoff was not the only wrongdoer in his scheme. All those wealthy investors who wanted something for nothing were also partly to blame. The real problem is that people became too rich. Being rich is a hard job. One must constantly be on guard, aware that the world will try to make the wealthy a little less so. Money has a different function for the affluent; it must constantly increase itself. Whereas most people use money for living expenses, and some have enough to put aside for future use or emergencies, the rich are beyond all that. They need their money to make more money, and this need becomes a compulsion, often enough, driving investors into the clutches of unscrupulous sharks who exploit their weakness.

More than ever, I am convinced that the present financial collapse, extending into every area of our lives, is no more than a mid-course correction, designed to straighten our journey into a better future.