Chartwell Enterprises officially told investors it generated returns from commodity and currency markets. Instead, it went out of business and $70 million it owed to clients is gone. Was it a pyramid scheme or was it a Ponzi scheme? Probably a little of both.
April 23rd, 2008 | Dan Denning | 1 comment | Continued Our DR Global Editions: 
Friday, December 05th, 2008
-
The Markets
All Ordinaries Id 3457.20 -10.90
S & P/asx 200 3521.00 -11.40
Nzx 50 Index Gros 2734.80 +4.12
DJIA 8376.24 -215.45
NASDAQ 1445.56 -46.82
S&P 500 845.22 -25.52
Ftse 100 4163.61 -6.35
2008-12-05 19:53 Most Comments
Search
Archives
-
Recent Comments
-
At this point, who gives a s---. They've messed up everything. if money destroys itself, people will still ...
Mireille | 5Dec08 | More -
"There is no shame in going bankrupt. There is only shame in being owed money by a bankrupt": ...
Coffee Addict | 4Dec08 | More -
Chris (if you read this) T.Boone's book may make an interesting Christmas pressie. Clearly, LNG and LPG will ...
Coffee Addict | 4Dec08 | More -
Well, first we have to realise that the boom cycle is very long, eg the last one in US lasted ...
Kanwaldeep | 4Dec08 | More -
From everything I understand Hal gold has been artificially devalued and the final control mechanism to be used will be ...
Drew | 4Dec08 | More -
Don't hold back now,say what you really think.
Dennis | 4Dec08 | More -
Nothing to get too worked up about regarding commercial real estate. I suspect the "bears" will drag out the usual ...
Greg Atkinson | 4Dec08 | More -
So now these sick bastards are buying their own bonds to force down the yields. No wonder the Chinese Sovereign ...
GaryB | 4Dec08 | More -
The cause of all of this in one short phrase:
A corrupt legal system.
Jon Bain | 4Dec08 | More -
Maybe investment in shares in the companies that make the ink and paper and of course the spares, for the ...
Charles Norville | 4Dec08 | More
-
At this point, who gives a s---. They've messed up everything. if money destroys itself, people will still ...
© Copyright The Daily Reckoning Australia & Port Phillip Publishing Pty LTD 2008 All rights reserved.
Port Phillip Publishing Pty Ltd holds an Australian Financial Services License: 323 988. View our Financial Services Guide.
ACN: 117 765 009 ABN: 33 117 765 009
Port Phillip Publishing
Attn: Daily Reckoning Australia
PO Box 899
Braeside
VIC 3195
Tel: 1300 667 481
Fax: (03) 9558 2219