The Madoff scheme

Here's a personal tale of financial devastation due to one man's fraud from Marketwatch.

My personal story with Madoff begins this way. Some years ago, my wife signed up for a 401(k) at work. I didn't pay much attention to her retirement account until earlier this year, after the 2007 year-end performance numbers were reported. Her account was up, not significantly but more than other retirement accounts.

It is worth the read because it is simply a preview of the future for most of the rest of us. Not that we're unknowingly getting bilked by a single individual, we're knowingly getting bilked by an entire system, known as the Federal Reserve.

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