Sunday, January 18, 2009

Swindle, Swindle

Bernard Madoff has perpetrated the biggest Wall Street swindle in history (at least $50 billion). It is difficult to watch the news recently without hearing about him and his house arrest. Reporters refer to Madoff's particular type of swindle as a Ponzi scheme.

If Ponzi inspired Madoff, he must have made a bunch of money. Where is Ponzi now?

On this day in 1949, Charles Ponzi died destitute in the charity ward of a hospital in Rio de Janeiro, Brazil, at age 66.

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