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Finance

Skeletons of Society

12.17.08 | Comment?

What I like about the recent $50 billion Ponzi scheme, other than the opportunity to make puns, is what it reveals about the due diligence of the rich and stupid.  From a Wall Street Journal article:

Membership rosters at a number of Florida country clubs could be particularly hard hit by Mr. Madoff’s alleged scheme, including Boca Rio Golf Club in Boca Raton and the Palm Beach Country Club in Palm Beach. Members of these clubs helped promote Mr. Madoff’s services to the clubs’ membership, though the clubs themselves weren’t involved, club members said. Having money with Mr. Madoff was a symbol of prestige within these clubs, several members said.

Fucking brilliant.

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