Unless you live in a cave you will by now have heard of Bernard Madoff and his Ponzi-scheme. Interesting name he bears, quasi-aptronymic: he made off with his investors' money. The wealthy fools who lost everything have in part themselves to blame: they allowed their good sense to be suborned by greed and ill-placed trust. Diversification is such a simple concept. But it is not a matter of the intellectual grasp of a simple concept. It is a moral matter. Appetites unruled will suborn the sharpest head. Our financial and political and social decline is rooted in moral decline.
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