Fraud defined

A trip down memory lane. Listen to the story or read the transcript here.

Excerpt:
The business world has been rocked by one scandal after another in the past decade. From Bernie Ebbers to Bernie Madoff, it’s been a confusing and angry time for investors.

In particular, the past 18 months have resembled a horror movie, with flaws exposed at Bear Sterns, Lehman Brothers, Washington Mutual, Fannie Mae, Freddie Mac and AIG. All of that was accompanied by a 777-point one-day plunge in the Dow (plus plenty of dismal trading days that followed) and more than 7 million job losses.

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