Word: madoff
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...WORD, TWO MEANINGS. MOMENT AS IN MOMENTARY, AN EVENT OR PASSION that is here, now, quick--then gone. Bush's last press conference, Madoff's comeuppance, a presidential puppy, Tiger's bad lie. Steroid scandals, swine-flu panics, airplane pilots good and bad. Already these fragments have the memorial feeling of snapshots in an old shoe box. But the other meaning is moment as in momentous, things that mattered in some lasting way, images destined not for shoe boxes but for history books. A year that dawned to the chime of change soon got bogged down in intractable troubles...
...cheap money and excessive borrowing set ablaze by derivatives, so-called financial weapons of mass destruction, put the economy on the brink of collapse. We will be sorting through the damage for years. Meanwhile, the living, breathing symbol of this economic sordidness, prisoner No. 61727-054, a.k.a. Bernie Madoff, rots away in a Butner, N.C., jail cell, doing 150 years for orchestrating the biggest Ponzi scheme in the history of humanity...
...TIME's photo-essay "The Demise of Bernard Madoff...
...developed world. Yet from our lofty perch overlooking the 20th century - the American Century, TIME's co-founder once labeled it - the fall has been precipitous. Who among us is unscathed? Not many. Even if none of your family members died in combat, you had no money with Madoff and you own your house free and clear, you most likely still took a hit. To paraphrase the question Ronald Reagan posed years ago, Are you better off today than you were at the beginning of the decade? For most of us, the answer is a resounding no. Let us count...
...BERNIE MADOFF, jailed financier and Ponzi schemer, in a newly released interview with representatives of the Securities and Exchange Commission, which was part of an investigation into the SEC's failure to uncover Madoff's scam for 16 years...