If you've been aware of the news over the last few weeks, you know of Bernard Madoff and the Ponzi scheme that he employed to bilk $50 billion out of investors internationally. All sorts of famous people and asset funds were victims, including: Steven Spielberg, a Nobel Laureatte, The Royal Bank of Scotland, large banks in Switzerland, France, Spain and Japan the family foundation of New Jersey Sen. Frank Lautenberg. He must be quite the con-artist.
It made me think about the origin of the term Ponzi Scheme and lo and behold, CNN did a story about it. Clarence Barron, owner of the WSJ and founder of Barron's, was the guy who busted Charles Ponzi. It's all in the article and is a compelling read.
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2 comments:
Thx for the link! I will check it out for shizzle.
Ah greed - the great leveler of playing fields.
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