Tom Tomorrow: the crisis in two cartoons

This new one

and this old one (23 September 2008).

Right on target.  Simple, but illustrates the phenomenon that seems to underlie just about all of this:   the desire for reward without risk (not just a free lunch, but a delicious calorie-free lunch) on the part of investors who should know better, and the eagerness of investment managers without scruples to con them into thinking they had just the ticket for that.

The breaking story of the $50 billion Ponzi scheme run by former Nasdaq President Bernard Madoff seems to be rooted in the same.

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