If I had spent the entire year scouring for business quotes to fit this title I probably wouldn’t find as perfect a selection as the ten offered up by Business Week in the Worst Predictions About 2008.
Here are my favorites, which do you like?
The Bad
“I’m not an economist, but I do believe that we’re growing.” —President George W. Bush, July 15, 2008 Nope. GDP shrank at a 0.5% annual rate in the July-September quarter. On Dec. 1, the National Bureau of Economic Research declared that a recession had begun in December 2007. (I thought that’s why presidents have advisers, so …read more

In 1992 the SEC investigated a Madoff feeder fund.
In May, 1999 and again in 2005, Harry Markopolos, money manager and investment investigator, presented his research on the Madoff Hedge Fund to the SEC in which he concluded that the fund was a giant Ponzi scheme…
“I used the Mosaic Theory to assemble my set of observations. My observations were collected first-hand by listening to fund of fund investors talk about their investments in a hedge fund run by Madoff Investment Securities, LLC, a SEC registered firm. I have also spoken to the heads of various Wall Street equity derivative trading desks …read more

The level of accountability finger-pointing in the fiscal world accelerated steeply with the crash of the giant, 20 year-old Ponzi scheme orchestrated by Bernard Madoff. Financial experts are seeking to lay the blame/responsibility for this current financial crisis on regulators, but, as with derivatives, there were warning signs that could—should—have been read by the financially savvy.
Unlike other Wall Street wizards, it is almost certain that Madoff will be jailed, but most will walk away to plum new jobs far richer than they were and accelerate their status as role models to our youth.
Excuses will be made for them; those embarrassed …read more