Medoff Swimming Naked
The article quoted and cited below, is most notable for the wonderful illustration of the famous Warren Buffett quote on how hard times reveal who has been prudent and who has not been prudent.
(p. 19) Though we may be caring less, we're hearing a lot more about Ponzi schemes lately, perhaps because the scams tend to fall apart when markets drop. As Warren Buffett so memorably put it, "You only find out who is swimming naked when the tide goes out."
For the full commentary, see: