A Suspicion I Share

I agree with Josh Marshall on his suspicion about l'affaire Madoff:

What we're hearing is that this was a classic, if vast, Ponzi scheme. So in the annals of the great financial sector collapse of 2008, unlike the various Wall Street firms and high flyers who were ruined because of the Real Estate Bubble, illiquid mortgage-backed derivatives and generalized speculative euphoria, Madoff's operation was just a scam, an old-fashioned fraud, that a lot of big players got suckered into.

But put me down as suspicious -- suspicious that the difference between Madoff's and the other investment implosions we've seen over recent months will turn out to be so clearly one of kind rather than degree.