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The Financial Services Industry's Free Lunch
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The Financial Services Industry's Free Lunch

Philip Bowring's avatar
Philip Bowring
Jan 09, 2009
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The Financial Services Industry's Free Lunch
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The lesson of the US$50 billion Ponzi scheme perpetrated by fraudulent investment guru Bernard L. Madoff is not just the danger of trusting people who belong to the same club or ethnic group, nor even of the importance of making simple checks on the bona fides of an investment intermediary.

Madoff represents the tip of a much bigger – though not actually…

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