How much money did bernie madoff profit from the ponzi scheme?

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A Hot Chick Explains How a Ponzi Scheme Works Hot For Words Bernard Bernie Madoff How a Ponzi Scheme Works Charles Ponzi Scam Like many, I am following the Madoff scandal. After reading about it for a few days, I realized that I didn't really know how a Ponzi scheme works, so here's the meat of it from Wikipedia. I am just shocked, dismayed, and amazed at the caliber of victims involved here. Madoff? Just a brilliant con-artist trafficking in the allure and mystique of investment esoterica. . There's got to be some explanation about the psychology of the "elite club" where Faith trumps Skepticism on such a large scale. The story is not in the crime itself. The story is in the mechanisms underlying Trust (and how Madoff came across as so trustworthy). On a related note, Robert Reich on the pendulum swings of public trust. Suppose an advertisement is placed promising extraordinary returns on an investment for example 20% for a 30 day contract. The precise mechanism for this incredible return can be attributed to anything that sounds good but is not specific: "global currency arbitrage", "hedge futures trading", "high-yield investment programs", "offshore investment", or something similar. With no proven track record for the investors, only a few investors are tempted, usually for smaller sums. Sure enough, 30 days later the investor receives the original capital plus the 20% return. At this point, the investor will have more incentive to put in additional money and, as word begins to spread, other investors grab the "opportunity" to participate. More and ...
	2.62 min. | 4.714286 user rating
What is a Ponzi scheme? MoneyWeek investment tutorials Ponzi frauds are claiming more and more victims. Tim Bennett explains what a Ponzi scheme is and how investors can avoid being ensnared. Video series by CFA UK Highly Commended journalist Tim Bennett. For more finance and investment tutorials click the subscribe button or visit our website: www. .moneyweek.com Join MoneyWeek on Facebook www.facebook.com Follow MoneyWeek on Twitter: twitter.com
	10.32 min. | 4.6 user rating

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