Monday, December 15, 2008

A giant Fonzie scheme?



So it seems that Bernard Madoff invested all his clients' money in his own wealth and depended on his being as cool as "the Fonz" to get him through it. But unfortunately, he was caught by Mr. Cunningham. Joanie was so disappointed in Bernie, that he decided to turn himself in...

Well, someone I know really did think it was called a "Fonzie Scheme".

In actuality, Madoff's crime is his pulling off a giant "Ponzi scheme", named after Charles Ponzi, who pulled the wool over his investors' eyes in the early 20th century. For more, see the Wikipedia entry here.

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