Monday, January 12, 2009

That’s What Friends Are For

According to an article in The Wall Street Journal, Bernard Madoff received a whopping $250 million, ten days before his arrest, from an old buddy, Carl Shapiro.  While a very nice gesture, it was insufficient to keep Mr. Madoff’s business afloat.  Mr. Shapiro lost an estimated $400 million as a result of the Madoff fraud.  No word on whether they are still pals.

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