What Madoff could learn from Ponzi

Federal prosecutors acknowledged in court documents this week that Madoff's lawyer is "engaging in discussions concerning a possible disposition of this case." That's typically lawyer code for either persuading the government to drop the charges -- not a chance -- or cutting a plea deal in the hope that Madoff might someday leave prison.

As it happens, that's just what Charles Ponzi did after it was discovered that his money-making machine was all chrome and no engine.