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Getting Out of the Hole, Or Digging It Deeper?

Getting Out of the Hole, Or Digging It Deeper?

Yesterday I focused on the proposition that “irrationality knows no bounds.” Today’s news brings evidence that the same can be said about greed. (Resolving the question of whether or not greed is irrational is left as an exercise...
Tell Me Again:  WHERE Does That Buck Stop?

Tell Me Again: WHERE Does That Buck Stop?

The story of negligent oversight by the Securities and Exchange Commission (SEC) just gets better and better every day. Here is the latest Reuters dispatch on the matter: Former U.S. Securities and Exchange Commission chairmen and directors were...
Bernard Madoff Receives 150 Years in Prison for “extraordinarily Evil” Crimes

Bernard Madoff Receives 150 Years in Prison for “extraordinarily Evil” Crimes

Bernard L. Madoff was sentenced today in Manhattan federal court receiving 150 years in prison for perpetrating a Ponzi scheme that resulted in billions of dollars of losses to thousands of investor-victims.
What Part of “Guilty” Don’t You Understand?

What Part of “Guilty” Don’t You Understand?

Bernard Madoff has not made the cut for any of my Chutzpah of the Week awards basically because, regardless of the magnitude of his fraud, there was a certain banality (or, perhaps, to avoid connotations of Hannah Arendt, I should turn to Daniel Mendelsohn’s...
Former Chairman of NASDAQ Arrested And Charged with Securities Fraud

Former Chairman of NASDAQ Arrested And Charged with Securities Fraud

Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities LLC, a registered investment adviser, and former Chairman of the NASDAQ Stock Market, has been arrested and charged with one count of securities fraud.
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