Quote from ProfitTakgFool:
Merck covered up clinical trial data that indicated Vioxx raised the risk of heart related deaths and as a result the medication was approved and brought to the market where it caused numerous unneccessary deaths. Should all drug manufacturers be shut down?
A number of years ago a Pharmacist watered down a Chemo drug and numerous people lost their lives because they weren't getting the dose of medication their doctors ordered. Should all Pharmacists have their licenses yanked?
A number of years ago a baby food manufacturer watered down apple sauce to boost profits and as a result babies weren't getting the proper nutrition their parents thought they were getting. Should all baby food manufacturers be shut down?
The world is full of blood sucking creatures like Madoff and personally, I think that bastard should be strung up by his toe nails and left to rot in hell but that doesn't mean the actions of him, and people like him, should destroy the hedge fund or mutual fund industry because believe it or not, there are plenty of hedge fund managers out there who have very high morals and care a great deal about their investors.
It's a simple fact of life -- some people are just criminals but the result of their actions should not destroy the careers of those who do it right. They should spend an incredibly long time in prison and actions should be taken to minimize the chances that another Madoff doesn't happen but shutting down the entire industry is NOT an option.