3 Replies to “Ponzi Of a Billion Dollar Kind”

  1. As you may have heard, Madoff is now under house arrest, and has been obliged to sign over some assets (eg, property in the Hamptons). As a lawyer remarked earlier this week, “$50 billion didn’t just go up in smoke.” Then again, the value of a lot of CDOs pretty much went up in smoke–considerably more than $50 billion worth, as a matter of fact.

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