Financial News

What is a Ponzi Scheme?

The Madoff scandal may have you asking: What exactly is a Ponzi scheme? The essence of a Ponzi scheme is better known today as a pyramid scheme. In 1920, a Boston investment broker named Charles Ponzi told investors that he could earn...

/ December 17, 2008
Bernie Madoff Ponzi Scheme

Madoff, “Hmm.. let’s report 36.2% gains “

“I really think very highly of him, people make mistakes,” wrote a Madoff confidant and NYSE broker. At a party over the weekend I met a nice girl from Boston University, and I forgot to ask for her number when...

/ December 16, 2008