The way I hear it, Stephen, Bernie was supposed to be investin' this dough in places where it would give him and his clients a return... Instead, he was takin' a million here and a milluion there off the top and using the money of subsequent investors to pay the earlier investers... At some point in time there aren't enough new investers to cover the older ones... That is the tipping point and that's why Bernie is in jail...

What did I miss here??? That's the way I understand what he did???

It was never going to work forever and I think that Bernie understood that but, hey, he got one heck of a good ride outta it while it lasted...

B~