Wealthy Investors Lose Fortunes in Wall Street Scam

Staff / Truthdig Dec 14, 2008 Although the full extent of the damage from broker Bernard Madoff's alleged super-swindle has yet to be determined, it's clear by now that the collapse of his vast pyramid scheme may spell utter disaster for several of his top investors -- some of whom might not know yet that they're broke. Dig deeper ( 1 Min. Read )

Top Broker Busted for $50B ‘Ponzi Scheme’

Staff / Truthdig Dec 13, 2008 Here's yet another candidate for the expanding collection of Tales from the Dark Side of Wall Street (is there any other side?): The Wall Street Journal reported Friday that Bernard L. Madoff, a top trader for nearly five decades who has served as chairman of the Nasdaq Stock Market, was arrested this week after his sons turned him in for engineering an elaborate "Ponzi scheme." Dig deeper ( 1 Min. Read )

FBI to Investigate Mortgage Crisis

Staff / Truthdig Jan 30, 2008 The FBI has announced an investigation into the practices of more than a dozen companies related to the subprime mortgage crisis that has destabilized the American and global economies. The Securities and Exchange Commission has already launched investigations of its own, and though it's nice to see the authorities crack down on improper practices, it would be nice to have some oversight before there was a crisis. Dig deeper ( 1 Min. Read )