Largest Ponzi Scheme to Date Exposed

The mortgage crisis proved to be too much for Bernard Madoff’s ponzi scheme. In something similar to a run on the bank, his house of cards came down last week.

Madoff's dealings do not affect you if your money is FDIC insured, but it shows how the credit crunch is exposing (and creating) problems all over.

In all, the public may have lost $50 billion.

Further reading:

• $50 Billion Ponzi Scheme Busted
• Are My Accounts Safe?
• How Bank Runs Work