The news has been full of stories about Bernard Madoff, the disgraced super investor who, if federal allegations are true, seems to be have been something more on the order of a super con artist.

Madoff, who was entrusted with about $50 billion by enormously wealthy individuals and institutions, has been charged with running what has been described as a giant Ponzi scheme.

A Ponzi scheme, for those who have been wondering, is a classic investment fraud named for Charles Ponzi, an Italian immigrant who ran one of the largest such scams in Boston before getting caught in ...

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