Madoff says he is happier in prison than free
(Reuters) – Financial swindler Bernard Madoff said that he is happier in prison than he was on the outside because he no longer lives in fear of being arrested and knows he will die in prison, TV journalist Barbara Walters said on Thursday.
I have a theory about frauds like Ponzi schemes. The theory is that these Fed-induced boom-bust cycles spawn more Ponzi schemes because people come to believe that wealth is easy to come by. There is a populist meme out there that believes that the Big Boys have Inside Dope to make the Big Bucks and [...]
The easy money theory of fraudulent schemes
This is becoming too much. Yet another fraudulent scheme has been exposed. Paul Greenwood and Steven Walsh were arrested yesterday for stealing $550 million from clients of their managed funds. Their companies were WG Trading Co. and WG Trading Investors LP in Greenwich, Conn., and Westridge Capital [...]