A quick note on crime syntax...

Calling Madoff's fraud a pyramid scheme would not be accurate. Each layer in a pyramid scheme consists of willing fraudsters who are trying to pass the cost of the fraud on to a new layer of people. Whoever gets stiffed at the end isn't innocent--they thought they could recoup the cost of their buy-in to the pyramid by tricking a new layer.

Madoff's fraud was a Ponzi scheme, which is very different. The people defrauded were truly innocent--they though they were buying into a legitimate investment management service. Madoff is following in the footsteps of Charles Ponzi, who paid his old investors with the buy-ins on the new investors without the old investors figuring out that anything fishy was going on for quite a while.

Also, perhaps we can avoid comparing actual Italian names to Muppets?

What a thoughtful reply! Thanks so much for joining the discussion!

I stand duly corrected on my Ponzi/Pyramid scheme comment (which *was* somewhat tongue-in-cheek. Nevertheless...)

On the perceived slight to my friends of Italian descent, please rest assured... the comment was meant *only* based on the similarity to the name of the joke-mangling bear from "The Muppet Show," Fozzie.

In retrospect, a Happy Days reference may have been more in order. :)

Don't pyramid schemes sound like something a pile of cheerleaders would do?

What, and ignore Charles Ponzi, the man responsible for the pyramid scheme? How many crimes get to be named for the first person to commit them?

This is indeed a big honor, and you want to deny the man his fame? This is right up there with the Marquis de Sade getting credit for 'sadism.' And considering what a poor wretch Ponzi became after his big swindle fell apart (cf. http://en.wikipedia.org/wiki/Ponzi), the least he deserves is some fame, maybe?

Speaking of syntax, I think this guy was born to do something like this when you consider the pronounciation of his name is "Made Off", as in "Made off with billions of dollars."