On the recordSeptember 12, 2011
Clearly, Madoff was not empowered by a lack of loss. He was empowered by a lack of enforcement.
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congress.govEditor's note · Context
Posey emphasizes that enforcement failures, not laws, allowed Madoff's fraud.
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I would think once you paid for total loss, you say, okay this is off the map, we are not going to insure this property again, much less more than 10 times, thousands of properties, perhaps.
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