Muphry\’s Law is, of course, that any complaint about spelling or grammar, any display of pedantry, will contain itself a greater error than the one complained of.
As a corollary might I suggest Hadley\’s Law, after Hadley Freeman?
Any article complaining that people do not understand finance will contain statements which shows that the writer does not understand finance?
The root problem here, as with the other current financial disasters, is that most people don\’t know how to read financial records and are easily cowed by supposed experts\’ obfuscation.
OK, fair enough.
Gordon Brown – prime minister during the financial crash, chancellor of the exchequer leading up to it – should know better than anyone that the obvious step would be to make understanding finance part of the national curriculum, because this is the stuff the world is built on and small misunderstandings build up to a big ol\’ mess that affects everyone.
And so Madoff alone was convicted last month of bankrupting thousands of people after a strikingly swift trial. So far, only $1.2bn has been recovered. No doubt Bernie is squirrelling the rest up his prison-issued jumpsuit.
Of course, this is about as likely to happen as recovering Madoff\’s missing billions,
Umm, no, you see, Madoff\’s billions aren\’t missing. We know just where they went. For, you see, he was running a Ponzi scheme.
He paid money comng in from new investors out to old investors as their profits. You see, that\’s what a Ponzi scheme means. That\’s what we use the phrase to describe.
The money isn\’t missing and Bernie\’s not squirrelling any of it anywhere. It\’s been paid out to the early investors. That\’s what a Ponzi scheme means.
Hadley\’s Law has a certain ring to it, doesn\’t it?
Worth noting: Hadley Freeman is the Guardian\’s fashion features writer