A friend of mine, freelance writer Erik Baard, stumbled into the story of Bernie Madoff trading records blowing in the wind -- literally.
The trades may be fictitious; investigators suspect that Madoff never executed many of the trades that he'd claimed he was making. When you see the slips now, each with the information filled in as if by an electric typewriter, you begin to appreciate how much scut work a fraud of this magnitude would have required. For Madoff to have pulled it off himself, you can imagine that he would have had to fill out fake slips day and night, or to have deployed a Ponzi robot.
categories: Economic Scene