Regan deserves Madoff?s fate
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I read the article about Michael Regan and the River Stream fund (“Big talk likely fueled swindles,’’ July 4). The article says Regan “actually lost money or had minimal returns most years. . . then . . . stopped trading altogether. . .’’ During this period, Mr. Regan paid himself $2.5 million to manage the fund. The fee was supposedly based on the fund’s performance. Although Regan’s clients did not attend his plea hearing in Brooklyn, I am certain that they will be present at his sentencing where they will be able to address the court. Mr. Regan is not the victim here - he stole a lot of money and caused a lot of pain and suffering. He is no different than Madoff and should suffer the same fate.
R. F. Lawless
Walpole
John D. Rockefeller once noted that cheap, accessible oil drastically transformed the standard of living because it brought heat to the masses. Wal-Mart established itself as a similar capitalist revolutionary, making an extensive variety of cheap, everyday goods easily available to those who may have had little purchasing power otherwise. The masses already had heat thanks to Rockefeller, but thanks to Wal-Mart, the masses now have sweaters, space heaters, and ski jackets, all bought at low prices.
Wal-Mart’s policies benefit consumers far more than its new intervention policies regarding healthcare ever could. Rolling back prices on common products improves people’s lives dramatically. But rolling back progress on healthcare by endorsing government regulation and antibusiness legislation? Always harmful. Always.
Elizabeth Moore
Arlington, Va.
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