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Cautious Regulation is Economic Savior

By Jaylan Boyle, Contributing Reporter

RIO DE JANEIRO - The mechanism that precludes the possibility of a Brazilian Bernard Madoff is just one example of regulation that has helped the country avoid the worst of the global economic crisis.

Madoff, a prominent Manhattan asset manager and philanthropist, pleaded guilty in March to operating a Ponzi scheme (whereby investor's returns are paid to them from their own investments), the largest ever investor fraud committed by a single person. Prosecutors have estimated client losses at more than US$65 billion, and it is expected that at his June 29th sentencing he will . . .

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