Internal Revenue Service Commissioner Doug Shulman appeared before the US Senate yesterday with this news:

"It is unfortunate in these otherwise difficult economic times that we are here today to discuss a situation where thousands of taxpayers have been victimized by dozens of fraudulent investment schemes.

These too-good-to-be true investment ruses have often taken the form of so-called "Ponzi schemes." The perpetrator of the fraud promises returns, and sometimes even provides official-looking statements showing interest, dividends, or capital gains, some or all of which is fictitious." (full link)

He was referring mainly to Bernie and Allen but one may be forgiven for wondering if AIG fit the frame too.

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