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Saturday, December 20, 2008

A Big Question About The Madoff Scandal

Considering how enormous his business is/was, and considering how many people work there, how is it that more people haven't been arrested for the massive Ponzi scheme?

It's hard to believe that only one person, Bernie Madoff, knew that there was no money to cover.

Is Madoff covering up? Or are there more surprises to come?


SuperRaizy said...

That's a good question- I was wondering about that, too.

Batya said...

He has also been given a rather comfy "home arrest." His sons handed him over to the authorities, so maybe there's a deal...

Hadassa DeYoung said...

Some people knew. Some people, including the SEC, ignored the information. The following is a link to an article on the Mises website, "Madoff and the Failure of the SEC".
The article includes links to other sources as well.
Mises.org is a good no-nonsense source for articles on major, and sometimes minor, economic and libertarian issues.

Batya said...

Yes, I read some place that a relative worked in a position to keep the authorities away. Has anyone else been arrested? And how is it that he has the freedom to keep working from home?