Which Way, L.A.?
California Pulls the Plug on Construction
Banks, charities and other sophisticated investors fell victim to Bernard Madoff's Ponzi scheme; $50 billion may be just the tip of the iceberg. On this rebroadcast of today's To the Point, why were so many taken for so much when so many others knew it was fraud? Also, a state agency has shut down almost 2000 construction projects, including highways, schools and levees. At stake are billions for business and tens of thousands of jobs. It's all about the budget.
By Warren Olney • • 1h 0m ListenBanks, charities and other sophisticated investors fell victim to Bernard Madoff's Ponzi scheme; $50 billion may be just the tip of the iceberg. On this rebroadcast of today's To the Point, why were so many taken for so much when so many others knew it was fraud? Also, a state agency has shut down almost 2000 construction projects, including highways, schools and levees. At stake are billions for business and tens of thousands of jobs. It's all about the budget.
Banner image: Intersection of I-10 and I-15 in California
