Wednesday, January 14, 2009

The Bernie Reality Show

What a brave new financial world, one that can produce the confluence of a Bernie Madoff, his feeder funds, the regulatory (that is the lack of regulations) environment where such a Ponzi scheme could thrive over decades, and the eager investors who convinced themselves that their steady “returns” in good and bad markets were an entitlement of their connections and station in life (as Jane Austen might have put it), not to be questioned by them. Now there is the endless media frenzy over Madoff, even including a camera trained on Madoff’s apartment building in NYC. This is the perfect diversion from the more serious financial landscape of trillion dollar bailouts with consequences no one can foretell.

The same society that gave rise to Madoffian cupidity and deception is also addicted to reality shows such as American Idol, Survivor, etc. so here is the idea: give the man his own TV program, such as the one depicted in The Truman Show! That way, Bernie’s every movement voyeuristically can be monitored with all advertising revenue going to the “BMVBF” (Bernie Madoff Victim Bailout Fund). What’s the sense of sending him to prison only to make license plates? After the BMVBF is fully funded, sponsorship can then be diverted to TARP, TAF, TSLF, ABCP, HOPE and all the other bailout acronyms, present and future. Thanks Bernie!