The Madoff Fraud, and the uncertainty

The story about Bernie Madoff's Ponzi Scheme is becoming pretty important and is getting a global impact with unknown effects.
In short, the New York financier and Ex-Nasdaq chairman Bernard L. Madoff was arrested last Thursday (Dec 11th) by the FBI on alleged securities fraud and running an illegal Ponzi Scheme. The total amount of damage could go up to 40 billion U.S. Dollar.
It is already rippling through the Global Financial World from the U.S.A to Europe (Switzerland) to Israël. Madoff was arrested after his own sons gave evidence to the FBI. Not only the wealthy and powerful are hit by this scandal.
Bernie Madoff was heavily involved with investments in the more than 1 Trillio Dollar Hedge Fund Industry.
Generally speaking: this could not have happened at a worser time for the global stock markets, and it makes people shiver at what more bad news is to emerge.
The last full trading week of the year could be one of high volatility.
On this blog we have already collected news and information about the Madoff case.
See these links.

The effect of the 'Madoff Mess' on the Markets


The Ponzi Scheme