Hear: Don't Call It A Hedge Fund


Not in the background anymore: Bernard Madoff (right) on Capitol Hill, 1993. AP Photo hide caption

itoggle caption AP Photo



  • Playlist
  • Download
  • Embed
    Embed <iframe src="http://www.npr.org/player/embed/98311725/136502908" width="100%" height="290" frameborder="0" scrolling="no">

Today on Planet Money:

— Ecuador became the first country to default in the credit crisis, though the reason may have more to do with the political of President Rafael Correa than with a lack of money.

— New York fund manager Bernard Madoff stands accused in a $50 billion federal investment fraud that threatens to wipe out private individuals, banks and hedge funds around the world. As blogger Felix Salmon of Portfolio explains, Madoff wasn't running a hedge fund himself — and things might have turned out better if he had been.

Download the podcast; or subscribe. Intro music: Bloc Party's "Helicopter." Find us: Twitter/ Facebook/ Flickr.



Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.