Politicians and government bureaucrats make empty promises, just like financial charlatans. A regulatory system based on a potent political vision pledged to correct Wall Street's failures. Instead it has worsened the failures and victimized those it was supposed to protect. Using examples of people being flagrantly defrauded, Ponzi Regulation shows how financial schemes and their destructive effects persist through boom and bust, encouraged by public policies. Investors suffer while officials violate their mission. This is a tale of strong characters, intricate schemes and massive unintended consequences. Against the ugly realities, regulation against financial fraud emerges as useless at best and a corrupt sham at worst. Whether you are interested in finance and investing or the law and politics, you will get a lot from Ponzi Regulation. And if your money is in a pension or account managed professionally, this is the book you need to understand how the system works and better protect yourself. This is a revised edition. The e-book version was first published in December 2013.