Madoff was a product of the artificially low interest rates established by the US Fed, causing people to participate in all sorts of risky schemes to see some i

Madoff was a product of the artificially low interest rates established by the US Fed, causing people to participate in all sorts of risky schemes to see some investment returns. So yes, one could argue that the Fed "succeeded" at creating lots of bubbles and fueling lots of scams in recent history, though the details of the situation are of course a lot more complicated.