La nuova, brillante idea di Stiglitz: regolamentare ulteriormente i mercati. Peccato sia vecchia di almeno due generazioni, abbia prodotto una burocrazia elefantiaca, abbia instillato un senso di falsa sicurezza negli investitori per quanto riguarda tutto quello con scritto "banca" sulla facciata. E ci ha regalato Parmalat, Cirio, adesso Madoff.
Dopo settant'anni, avevamo quasi capito che il collettivismo non funziona, perché prevede che gli uomini diventino improvvisamente angeli impegnati a costruire il paradiso; l'effetto è di trasformare la terra in un Inferno.
Prima o poi il pubblico potrebbe persino realizzare che realizzerà quello che alcuni già sostengono da decenni: che anche nel campo della "regolamentazione" democratica, le migliori intenzioni sono spesso la causa dei peggiori abusi e delle negligenze più disastrose.
Il resto del pezzo apparso su Newsweek è un lucido esempio di delirio costruttivista e collettivista.
“Markets can’t rule themselves” says Joseph Stiglitz. We need “better regulation,” he says. Now there’s a novel idea. The SEC was set up by the Roosevelt administration 70 years ago. They were actually watching over Bernie Madoff’s company...and actually did a review of it in 2005 and 2007. Somehow, these ace regulators didn’t notice the biggest Ponzi scheme in world history...a scheme approximately 5,000 times bigger than the scheme of the eponymous Ponzi himself.
Better regulation? We know how to get more regulation. But what we don’t know is how to get better regulation. We don’t even know what it means. There were thousands of regulators on the job in New York City. Not one of them seems to have caught on to any of the great scams that were going on. Even when they were so obvious even we poor scribblers here at The Daily Reckoning warned about them for years. We said sub-prime would be a disaster. We told the world that hedge funds were a rip-off. We whined about high executive salaries and bonuses. We explained how the profits going to the financial industry were an aberration. We laughed at the pretentious nonsense of the investment engineers, the pious complicity of the rating agencies, and the reckless greed of the mortgage lenders. Housing...finance...private equity...hedge funds...the dollar – what did we miss? And a subscription to The Daily Reckoning is free!
Newsweek presses onward in its delusions:
“More government is the solution” says Brazil’s President Lula da Silva. The solution to what? We would like to know what problem – that was not caused by government itself – has ever been solved by government. We can’t think of any. But so the magazine lurches on...from one bit of claptap to another...from mass delusion to popular fantasy...from farce to dada.