'Gullibility' author says Madoff cost him money

12:25 PM, Mar 3, 2009   |    comments
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News of the scandal involving Madoff's alleged $50 billion Ponzi scheme broke just as Professor Stephen Greenspan's book the "Annals of Gullibility" was released in December.

The book deals with gullibility in literature and folklore and how to prevent it.

Rather than hide his $250,000 investment with Madoff, Greenspan wrote a lengthy essay about gullibility in financial scams. It ran in the science journal Skeptic and was picked up by The Wall Street Journal.

He now offers insight in interviews on the British Broadcasting Corp., National Public Radio and numerous other media outlets. Greenspan is mulling a second book.

(Copyright Associated Press. All Rights Reserved.)

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