16
Dec
2008
What Was Madoff’s Exit Strategy?
Econophile asks some good questions:
Ponzi schemes are fascinating. Why would anyone do one unless they have a plane to Rio waiting on the runway? They know that they have to get off the train at some point and then it’s all over.
Why did Bernie Madoff do it?
$50 billion is real money. Aside from the question of what he did with the money, why did he think he’d get away with it and why did it last so long?
Econophile doesn’t really answer these questions, but he does manage to blame the Fed and government. My kind of guy.
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