Bernie Madoff, Stimulus Czar?

One of Tyler Cowen's alter egos gives Ben Bernanke some advice:

What about that guy who set up the phony investment company? Can the Treasury make a new one of those, only bigger? He took money away from people and gave it to charities and the needy and the arts and higher education. That sounds like stimulus so why are we sending him to jail? Wasn't he ahead of the curve?

For more serious stimulus-related commentary, here's Tyler citing a new paper on taxes, spending, and bang for your buck.