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The nature of a Ponzi scheme is such that the early investors actually make money. What is extraordinary here is that Madoff was able to bring in such volumes of money that he could deliver the...
Unfortunately for investors who lost $7 billion in the alleged Ponzi scheme involving Stanford CDs, the Securities Investor Protection Corporation (SIPC) won’t help any of them as it has some...
Irving Picard, the Madoff trustee, is taking a very aggressive approach vis-à-vis Madoff investors. Since he believes that the entire fund was a fraud, he has ruled that each investor is only...
Nouriel Roubini, aka Dr. Doom, described his response when a reporter who asked him to comment on the historical significance of Bernie Madoff:
Madoff is the mirror of the American economy and...