Here is Bernie Madoff, the current Ponzi Scheme Champion, at a 2007 roundtable discussion about the modern stock market.  Interestingly he says that it is "virtually impossible to violate rules" when discussing the regulatory constraints that exist today.  However, the Believability Meter thinks differently about his pronouncement.  What's even funnier (if you can find any levity in this at all) is that he says that most of "the infractions... are relatively small, you know, primarily because, you know, of all the regulation."  It might have been nice to know this before he walked away with $50 billion.  Tell us what you think of Bernie's activities.