On Our Journey to the American Dream, We're All Bernie Madoff

Summary

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WASHINGTON - For anyone taking stock of 2008, Barack Obama is the inevitable choice as Person of the Year. But he's not the only American whose story suggests that this thrilling, dramatic, unforgettable year will be seen as a demarcation of grand historical eras, a bright line between yesterday and tomorrow. My choice for runner-up is Bernard Madoff.

In a sense, we're all Bernie Madoff. We've been running our economy in accordance with his accounting principles for a generation - and now we face a most unpleasant reckoning.

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Extract

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On Our Journey to the American Dream, We're All Bernie Madoff

As everyone knows by now, Madoff - once one of the most respected financiers on Wall Street - stands accused of being perhaps the biggest swindler in history. Before his arrest earlier this ...

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