Regulators Maintain Perfect Record Of Incompetence – Massive Fraud At Peregrine Financial Goes Undetected

What is the point of having numerous regulatory agencies if they can’t detect blatant fraud despite numerous red flag warnings? Banking regulators turned a blind eye to absurdly reckless lending policies until the entire financial system came close to collapse in 2008.  Regulators managed to convince themselves that Bernard Madoff’s $50 billion Ponzi scheme was […]