Too Many Madoff Victims, Not Enough Money to Go Around, U.S. Official Says

Thousands of victims of Bernard Madoff's $65 billion Ponzi scheme may not receive all the monies owed to them by the insurance agency created to protect investors against the failure of major brokerage firms, according to a senior government official. "It shouldn't be such a difficult issue but it is," testified Mary Schapiro, the newly appointed chairman of the Securities and Exchange Commission, at a recent Congressional Hearing. "The tragic truth is there is not enough money available to...Full Story
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