Posts on ‘June 30th, 2009’

65,000,000,000

Wow. Bernard Madoff, American ex-financier and former Nasdaq chairman, was sentenced to 150 years in prison yesterday, for running a USD65 billion Ponzi scheme that affected or ruined thousands of private and institutional investors.
 
Apart from giving a rude awakening to formerly trusting people, foundations and companies, the case also demonstrated to the public how ineffective financial [...]