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Interessant vor allem am Ende:

Of course, not all cases of fraud have such happy endings. During the 1980s, in the biggest bank robbery in history, various criminals--aided by their lackeys in the Democratic Party, including Jim Wright of Texas, Tony Coehlo of California, Ferdinand St. Germain of Rhode Island, and Don Reigle of Michigan--stole something like $200 billion from the savings and loan associations of the country. Again, the schemers outsmarted the regulators and found the politicians pliable enough. And, again, honest bankers and the public-at-large were made to suffer.

The worst response to these cases is the one most frequently chosen by the political class: pass more government regulations, centralize the system, and put the bureaucrats in charge of rooting out cheats and crooks. It never works. Often, this path kicks the crooks up a little higher in the food chain, so instead of wildcat banking, we get wildcat central banking and international business cycles. The best advise to investors is--as it has always been--caveat emptor.

But getting back to the $3 bill of the Salem & Philadelphia Manufacturing Company: at least it wasn’t a total loss. After the passing of 170 years, this note is finally worth something--as a collector's item.



Quelle

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