Bernard Lawrence "Bernie" Madoff (1938-alive), usually simply known as Bernard Madoff, is an American fraudster and a former hedge fund manager and financier. He is famous for being the author of the greatest financial fraud of all times, the so-called Madoff Investment Scandal, happened in 2008 at the peak of the Great Recession. In the past, … Continue reading Bernard Madoff
Tag: Great Recession
Bernard "Bernie" Madoff was a well-respected hedge fund manager, founder of a successful investment company named Bernard L. Madoff Investment Securities, LLC and, for a period of time, Chairman of the NASDAQ. In 2008, at the peak of the Great Recession, Madoff admitted to his sons who worked with him at his firm that the company was … Continue reading Bernie Madoff and the greatest financial fraud of all times
A financial bubble is an economic period in which the prices of particular types of assets increase in an exaggerated way, strongly exceeding their intrinsic value, only to contract later, when the bubble burst. It is usually originated by an exuberant bullish market and it ends when no more investors or speculators are willing to … Continue reading What is a financial bubble?
On September 15th, 2008 the Great Recession, officialy started in December 2007, materialized in the financial world with the bankruptcy of Lehman Brothers Holdings Inc., one of the oldest and largest investment banks in Wall Street. The fate of the famous financial firm has shown to all the world the fragility and the weakness of the current economic system, centered … Continue reading Are banks necessary?