Eugene Robinson: The Year of Madoff

Eugene Robinson writes in The Washington Post: For anyone taking stock of 2008, Barack Obama is the inevitable choice as Person of the Year. But he’s not the only American whose story suggests that this thrilling, dramatic, unforgettable year will be seen as a demarcation of grand historical eras, a bright line between yesterday and [...]

NYT Columnist Bob Herbert: Stop Being Stupid

Bob Herbert urgently writes, I’ve got a new year’s resolution and a new slogan for the country.  The resolution may be difficult, but it’s essential. Americans must resolve to be smarter going forward than we have been for the past several years.  Look around you. We have behaved in ways that were incredibly, astonishingly and [...]

Understanding Ponzi and Pyramid Schemes

Much has been talked about in the press about the Madoff scandal, and his use of a “ponzi” scheme. But what exactly is a “ponzi” scheme and how is it related to a “pyramid” scheme, and most importantly, how can I make sure I am not a victim of either? First, there actually was someone [...]

Understanding the Madoff Scandal

CNNMoney.com answers six questions to better understand the Madoff scandal. How’d Madoff do it and why: Many of the details surrounding the Bernard Madoff scandal are still fuzzy. Here’s what we need to know. Despite all that’s been written about the Bernard Madoff scandal, what’s remarkable is how much we don’t know about the fraud [...]