Bernie Madoff's Shady Schemes Should Have Set off Alarms Long Ago

By Arianna Huffington, Huffington Post. Posted December 15, 2008.

One ponzi scheme after another is exposed on Wall Street, and so far all we've heard is: "Who could have known?"

See if this sounds familiar:

An ambitious and risky undertaking carried out with hubris, and featuring the weeding out of anyone who raises alarm bells, little-to-no transparency, an oversight system in which no central authority is accountable, and the deliberate manufacturing of ambiguity and complexity so that if -- when -- it all falls to pieces, the excuse "who could have known?" can be used….

Is it Iraq? Fannie Mae? Citigroup? Bernie Madoff?

The correct answer is: all of the above.

Read on...