Tag: up

by John Jewell (London, England)  In the Letter from London a couple of weeks ago we wrote of the next major financial disaster to hit the western world following the credit crunch and the fallout from that. This was the incredible scam perpetrated by Bernard Madoff which resulted in a large number of people losing around $50 billion in total. A newspaper survey of the major losses showed that quite a number of people, who had many millions of dollars and pounds and wanted a safe, but profitable, haven for these funds had entrusted Mr. Madoff with the entire amount. […]