Month March 2009

Public pension funds. The next bailout

Some facts – Public pension liabilities as of Dec. 19 were $2.9 trillion. Totals assets were $2 trillion. – Many public pension funds recently made disastrous bets they could sell bonds and invest the money at higher rates. They were…

How Markopolos knew Madoff was a fraud

CBS News interview excerpts “I’ve taken all the calculus courses, from integral calculus through differential calculus, as well as linear algebra. And statistics, both normal and non-normal,” Markopolos said. Asked how long it took him to figure out something was…

Marc Dreier. The Crack-up

American Lawyer writes the definitive (so far) story on the fall of former high-flying lawyer Marc Dreier, who currently is under house arrest and facing thirty years in prison for massive conspiracy and fraud. Definitely worth reading and meticulously researched.