Bernard L. Madoff Investment Securities

Description:

TheStreet.com on Madoff -- Dec. 16, 2008:

The multibillion Ponzi scheme Wall Street money manager Bernard Madoff is accused of running has created quite a stir since regulators unveiled a complaint late last week detailing some $50 billion in losses.

According to a Securities and Exchange Commission complaint, filed in federal court in Manhattan, Madoff allegedly informed two senior employees that the investment advisory business was a fraud and had been insolvent for years. According to the complaint, Madoff told these employees that he was "finished," that "it's all just one big lie," and that it was "basically, a giant Ponzi scheme."

Doug Kass [RealMoney contributor] called it "the single biggest financial story of the year. It is bigger than WorldCom, bigger than [Ivan] Boesky and bigger than Tyco."

-- From "Bernard Madoff: What You Need to Know" on TheStreet.com

This portfolio contains stocks that make up 1% or more of Madoff Investment Securities' holdings (as of the Sept. 30, 2008 filing).

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