the future of the stock market

December 29, 2008

Bernie Madoff overdid himself on a conference last year under the big title The Future of the Stock Market.

It is worth watching it (or reading the transcript) for its comedy value.

Look out for gems like:
<<[…] by and large in today’s regulatory environment, it’s virtually impossible to violate rules. This is something that the public really doesn’t understand. If you read things in the newspaper and you see somebody violate a rule, you say well, they’re always doing this. But it’s impossible for a violation to go undetected, certainly not for a considerable period of time.>>

or the moderator of the discussion asking Bernie the ultimate question:
<<How do you guys make money, then?>>

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