Danny Pang

With the recent uproar of the House wanting to curb the powers of the Fed, this seems to be a good article to look at. Reading this I was amazed at the warning signs Pang showed throughout the years. And yet he still managed to attract investors that were willing to allow him access to their money. Never underestimate the power of a unbelievable return rate. Now could Dodd and Frank really have prevented this? Of course not. Pang was a con man pure and simple. And con men always find an angle to work. All the legislation in the world would not have prevented Pang from doing what he did. Just has it would most likely have not stopped Madoff. Con men tell people what they want to hear. Kind of like Obama and health care reform.

WSJ.com link