An allegedly long-running pyramiding scheme run by investment strategist Bernard Mardoff has rocked the entire financial and business world. The scheme, popularly called as the Ponzi scheme, has taken the government by surprise and left many investors shocked most particularly those investments affected in the scandal.

This case is really aweful. It is surprising that the government has not detected the scheme, which has been said to have been running since 1999! What has the government been doing? Are the officials sleeping on their jobs? The current financial crisis is already crippling the economy, and the addition of scandals such as this is really unbearable. This could aggravate the the already volatile condition of the financial market. The scandal is a real pain in the neck.

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Posted by Jones on December 23rd, 2008 :: Filed under $$$ CRISIS, SIMPLY SCANDALOUS
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