Ponzimonium!

"Some thought his returns might have been based on front-running- using the information from his brokering business to benefit his asset management clients. Sophisticated confidence tricksters have used a similar tactic for thousands of years. The fraudster hints at impropriety, but implies that the target will be the beneficiary rather than the victim. The suggestion... has two advantages. It provides a possible explanation of the source of the promised gains. And it encourages the victims to keep quiet until- perhaps even after- the deception is exposed."

How the “Madoff twist” entices the financially astute John Kay, FT March 18th

The FT has, understandably, been considerably exercised by the Bernie Madoff thing. Many of their heavy hitters (I liked what Alex Callinicos's description of Martin Wolf as 'primary intellectual ornament')

And this weekend's FT has a lovely new neologism (that's a deliberate redundancy, btw)

"US watchdog warms markets of 'rampant Ponzimonium'.

"Ponzimonium." Priceless.

See also:
A rather good book called "Pandemonium: the rise of predatory locales in the Postwar world."