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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (174314)12/29/2008 5:02:57 PM
From: patron_anejo_por_favorRead Replies (3) of 306849
 
I think Madoff resorted to Ponzi in the 2000 bear. He had not only declining stock values to contend with, but they got rid of fractions and started using decimal stock trade increments, which jammed his main cash cow (the trade-clearing firm). Out of desparation he prolly did it at first just to cover a few withdrawals, but then the evil light bulb went off and he luged down the slippery slope.
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