Why does transparency matter-ask investors of Madoff and Stanford. Why does transparency on the Web matter? Because as easy as it was for Madoff and Stanford to fool thousands of investors offline in ponzi schemes- the web makes bamboolzing regular folks like you and me a hell of a lot easier and cheaper.
Yet well known sites on the web (including a popular auction site I will not name to protect the not so innocent) are allowing thousands of mini-Madoffs to run roughshod on their site and cheat regular folks out of their hard earned money-and unlike Madoff and Stanford victims the chances of recovering anything later on is virtually nil. While nothing can guarantee that regular folks like you and me will never get screwed by an mini-Madoff or a copycat crook transparency makes a huge difference.
Had Madoff been forced to be more transparent the scheme would have been spotted fast and the victims would not be going through the utter hell they are experiencing trying to recover their money.
As Obama emphasized transparency makes a world of difference. It is a shame that many well known websites still chose to stick their head in the sand.
Stay safe my fellow Web Users:0)
Chief myabuyer
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