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Joe Nocera: Another Week, Another Banking Scandal

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Is it my imagination, or does every week bring news of another financial scandal? No, it’s not my imagination.

First up: Peregrine Financial Group. This long-running fraud, which has apparently been going on almost as long as the Bernard Madoff Ponzi scheme, came to light when the firm’s founder and longtime chief executive, Russell Wasendorf Sr., tried to commit suicide a few weeks ago. (He failed.) Helpfully, he left a lengthy note that laid out what he had done.

Read the whole story at The New York Times

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