The following is a quote from the columnist Larry Elder regarding events on Wall Street:
“Add the name Bernard Madoff to the pantheon of big-time thieves. The legendary billionaire hedge fund manager…now stands accused of running a massive Ponzi scheme…. To many, the Madoffs of the world confirm this "truism": the rich get rich not through hard work, risk-taking or crafty assumptions about the future. No, the rich get rich the old fashioned way: They steal. They profit through inside information, use their clubby network of eyes and ears, get a heads-up when storm clouds appear, and plunder the unsophisticated, and thus cleverly dodge the common misfortunes suffered by the "little guy."”
This columnist is not attacking free enterprise. He goes on to say: “… most rich folks do it the hard way. They get up early, bust their tails, and work harder than their subordinates. They treat their staff…with respect. In return, employees…work hard for a boss who shows his appreciation. Decades of work later, the boss suddenly wakes up rich.”
Honesty, the free enterprise system, education, the rule of law…we must believe in these in spite of the Bernard Madoffs of Wall Street.
Ltr to H-T 12/08
