While investors express dismay and shock about Bernard Madoff's $50 billion Ponzi scheme, nothing about the affair is even slightly surprising. The scandal is perfectly understandable in light of a fundamental truth that nobody wants to accept: Wall Street itself is nothing but a grand Ponzi scam. Wall Street is institutionalized fraud sanctioned by government and blindly accepted by society.
As with religion and faith, people want to believe, and will therefore ignore obvious facts that contradict hopeful thinking about investment...
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