It may feel like the Bernard Madoff case has been with us for years, but it was only Dec. 11, 2008, when news broke that the supposed Wall Street titan and former chairman of Nasdaq had been arrested for running a Ponzi scheme of unimaginable size.
According to a complaint filed that day by the Securities and Exchange Commission, Madoff informed two senior employees (his sons) that his investment advisory business was a fraud, that he was “finished,” that he had “absolutely nothing,” that “it’s all just one big lie,” and that it was “basically, a giant Ponzi scheme.” Madoff ...