2009: The Year of the Ponzi

It was right at the end of 2008 that Bernard Madoff admitted to his sons that his multibillion investment business was "one big lie." As his scam unraveled in the courts and in the media throughout 2009, we learned that his $65 billion Ponzi scheme was the biggest in history, and he ended the year serving 150 years in federal prison. But Madoff wasn't 2009's only Ponzi villain. Why did so many bogus investment schemes blow up last year? It's the weak economy, said Scott Friestad of the...Full Story
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