Oh No! Not Elie Wiesel!

The TV was on CNN, and they were flashing pictures of some of the fleeced investors of Bernard L. Madoff, the former fund manager and NASDAQ Chairman who, it seemed, had been running an elaborate Ponzi scheme, with his clients (or victims, as the case may be) being many high and powerful people, including captains of industry, hedge fund managers, celebrities, and high finance executives. The amount lost that most likely will never be seen by these investors again supposedly reaches US$50 billion. I'm sure you'll recognize some of the names of these investors: Steven Spielberg, BNP Paribas, HSBC, RBS, Fred Wilpon (owner of the New York Mets), and Nobel Laureate and Holocaust survivor Elie Wiesel. These three articles enumerate some of the other investors, but there are many smaller investors--regular people--who it seems have lost their savings because of this man's scheme.

Elie Wiesel is most famous for the book, "Night", and earlier this year, I read another of his books, "The Gates Of The Forest". I blogged about it briefly, typing out the book's first five pages for you to read, if you wish.

I kind of remember reading news articles about Ponzi schemes and victims here in the Philippines too over the last six or seven years or so...