We're always telling people not to take more risk than they need to take, and Bernie was smart in this respect. His "business model" didn't require him to take any investment risk, so he didn't. Except for his own "costs," it looks like his investors wouldn't have lost a dime in the recent downturn. In fact, if they hadn't panicked and demanded their money due to falling stock prices (to which they weren't even exposed!), everything might have been fine for many more years.
More regulation--that's what we need. Like there aren't laws and regs against this already . . .
"Freedom begins when you tell Mrs. Grundy to go fly a kite." - R. Heinlein