Joshua Keating of Foreign Policy’s Morning Brief writes:
The financial world was blindsided by the arrest of Madoff, a fixture of the New York financial world, though the Wall Street Journal reports that some analysts had been sounding the alarm about him for years. As one fund manager told the Financial Times, “This was the train wreck that happened in broad daylight.”
One person vanishes $50 billion, even half of it, without a trace? That’s possible?