The son of Bernard Madoff, the convicted Ponzi schemer, has apparently committed suicide.

This happens to come concurrently with reporting that, surprise, many more people were involved in the giant swindle than Madoff and one or two close associates.


How does this happen? See recent news here. Ask the Arkansas banks that bought bonds (rumored to have been printed on plain copy paper) without asking to see, for example, trust indentures, letters from bond counsel or evidence of plats, taxes and such for improvement districts set up and run by the guy selling the bonds supposedly to be financed by the improvement districts. A smile and a shoeshine can take you a long way in this world. But, inevitably, the kite falls to the ground.