$50 Billion Fundamentalist Free Fall
…lming feeling of crisis on Wall Street and throughout the country. Simply put, a number of Madoff’s investors needed their money (even the very wealthy are feeling pinched in this downturn), and he was confronted with the impossibility of meeting the looming demand for a $7 billion payout. Some weeks ago, I wrote a short history of John Law, purveyor of the first such Ponzi scheme in France. His story sounds eerily familiar this week. More maddeni…
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