SEC: More Schemes From Mr. Ponzi

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The Madoff disaster could not have been the only situation where a money management firm took advantage of suckers. The market has been too good over the last five years, and hedge funds have been too spectacular.

The SEC, finally stirred into doing its job, is beginning to uncover more unsavory activity.

According to Bloomberg, "Regulators may discover additional Ponzi arrangements as declining stock markets prompt investors to withdraw their cash and they question how their money is being managed."

The SEC back on guard for democracy.

Douglas A. McIntyre