After the news broke of Bernie Madoff's arrest on December 11, 2008, the facts were hard to grasp. Madoff claimed to have stolen fifty billion dollars; the sum

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“The authoritative source on one of history's most notorious Ponzi schemes.”—Fortune The definitive, in-depth account of the spectacular rise and fall of

The “greater fool” theory of economics states that it’s possible to make money by buying paper (securities), whether overvalued or not, and later, selling

It was a time when anything seemed possible–instant wealth, glittering fame, fabulous luxury–and for a run of magical weeks in the spring and summer of 1920