Bernard Madoff
Larry
January 06, 2009
Doodles
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Tags: Bernard Madoff, portrait of the day, sketch of the day
Ball point pen on the morning newsprint
A Ponzi scheme, named after the notorious Charles Ponzi who perpetrated the scheme in the 1920′s, promises a large return on investments, then in order to to gain legitimacy and prolong the scheme, pays returns to existing investors with funds from new investors. Eventually the pyramid comes crashing down, this time on the head of present day Ponzi, Bernard Madoff.
