LONDON — It was perhaps inevitable that we ended 2008, the year we learned we were up the creek, with a great financial scandal: the Madoff Ponzi case.
What is even more remarkable is the way in which the alleged fleecing of wealthy people and charities – investors who should have known better or employed people who did – of many billions of dollars serves as a mirror for the broader culture. It shows how we went wrong and where we are left, now that we realize our errors.
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By James Saft
The New York Times
Published: Thursday, January 1, 2009
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