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Bernard Madoff: Wall Street's One-Man Wrecking Crew
Sophisticated people and institutions worldwide fell victim to Bernard Madoff’s Wall Street Ponzi scheme, not to mention the Securities and Exchange Commission. How come they all got taken for $50 billion dollars when others so clearly saw fraud? Also, Governor Rod Blagojevich vows to break his silence as impeachment proceedings proceed, and 63 percent of Americans say the country's in the midst of long-term economic decline.
By Warren Olney • • 1h 0m ListenSophisticated people and institutions worldwide fell victim to Bernard Madoff’s Wall Street Ponzi scheme, not to mention the Securities and Exchange Commission. How come they all got taken for $50 billion dollars when others so clearly saw fraud? Also, Governor Rod Blagojevich vows to break his silence as impeachment proceedings proceed, and cutbacks, layoffs and stock-market losses are producing high levels of insecurity.
Banner image: Bernard L Madoff walks down Lexington Ave to his apartment December 17, 2008 in New York City. Photo: Don Emmert/AFP/Getty Images
In this episode
3 storiesBlagojevich Vows to Break Silence as Impeachment Process Begins
As the state legislature considers impeachment, Rod Blagojevich today went out for a jog. Telling reporters less than he wanted to, the Illinois Governor said he was eager to tell his side of the story to the people of Chicago, but that there was "a time and place for everything."
Read the story6 minBernard Madoff: Wall Street's One-Man Wrecking Crew
The victims are banks, hedge funds, wealthy investors and charities worldwide. Los Angeles' Jewish Journal is running a feature called " Swindler's List ." But Bernard Madoff didn't just trick investors who should have known better.
Read the story33 minIt Was the Worst of Times, It Was the Worst of Times
America's confidence in the economy is fading fast, according to a new poll by ABC News. Two-thirds of those surveyed are worried about maintaining their standard of living, and almost 30 percent increase in less than a year. Thirty-three percent say they've been hurt "a great deal." Gary Langer is ABC's polling director.
Read the story10 min
