Top world financial groups on Monday revealed massive potential losses from an alleged scam run by Wall Street trader Bernard Madoff, admitting they were fooled by a classic pyramid investment fraud.
British, French, Japanese and Spanish banks and funds said investments totalling billions of dollars (euros) could be wiped off their balance sheets by a scandal that is set to affect some of the richest people in the world.
The news set off shock waves to wealthy investers and a party spirit among the world's poor. Celebrations continued into the night in pubs around Glasgow as the Royal Bank of Scotland was named.
Further parties are scheduled in all four countries tonight with a curfew lifted as police too enjoy the site of Scrooge-types scurrying about and proclaiming. "Bah, Humbug!" and "Stupid Asshole Bernard Madoff Made Off with me money."
Around the world, the cries of "MADOFF MADE OFF!" have replaced "YES, WE CAN!" and "DING! DONG! THE BUSH IS GONE!!"
