Ponzi's Scheme_ The True Story of a Financial Legend - Mitchell Zuckoff [163]
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owlish glasses, receding hairline, and soft jowls: Photograph of Herbert Baldwin accompanying undated story found in library files of the Boston Herald, headlined “Baldwin Joins B & M Staff.”
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“Baldy,” as his friends in the newsroom: “ ‘Baldy’ Quits B & M Post,” Boston Herald, October 13, 1949.
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while growing up in Everett: Biographical details on Baldwin came from 1920 and 1930 U.S. Census data, and also from an obituary, “Herbert L. Baldwin, 79, Former Boston Newsman,” Boston Herald, January 23, 1973.
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“That’s Ponsi”: Herbert L. Baldwin, “Canadian ‘Ponsi’ Served Jail Term,” Boston Post, August 11, 1920, p. 1.
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“Positively, that’s the same man”: Ibid.
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notorious Montreal padrone Antonio Cordasco: Ibid. Other details from Baldwin’s trip to Montreal also come from his August 11, 1920, story.
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“Are you sure?”: Kenny, p. 198.
Chapter Seventeen: “I’m not the man.”
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spent the morning in Lexington: “Ponzi’s Talk Leaves Club Still Puzzled,” New York Times, August 11, 1920, p. 15.
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a summer thunderstorm: “Relief from Heat Today,” Boston Post, August 10, 1920, p. 1.
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overdrawn his account by $441,778: Cunningham v. Commissioner of Banks, 144 N.E. 447; Annual Report of the Massachusetts Commissioner of Banks, 1920, p. vii.
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a “battle royal”: “Ponzi Tells Kiwanis Club How He Got His Millions,” Boston Evening Globe, August 10, 1920, p. 1; “Nobody Loses by Ponzi’s Transactions, He Says,” Boston Daily Globe, August 11, 1920, p. 8; Herbert L. Baldwin, “Canadian ‘Ponsi’ Served Jail Term,” Boston Post, August 11, 1920, p. 1.
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“He has a good job”: “Ponzi Tells Kiwanis Club How He Got His Millions,” Boston Evening Globe, August 10, 1920, p. 1.
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write a sentence on a piece of paper: “Nobody Loses by Ponzi’s Transactions, He Says,” Boston Daily Globe, August 11, 1920, p. 8.
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Hundreds of letters arrived: “Ponzi Tells Kiwanis Club How He Got His Millions,” Boston Evening Globe, August 10, 1920, p. 1.
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Ponzi note holders turned up: Herbert L. Baldwin, “Canadian ‘Ponsi’ Served Jail Term,” Boston Post, August 11, 1920, p. 1.
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Herb Baldwin’s copyrighted story: Ibid.
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An hour after midnight: “Arrest in Ponzi Case May Be Made Today,” Boston Post, August 12, 1920, p. 1; Curt Norris, “Ponzi,” Yankee, November 1975, p. 115.
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“I’m not the man”: “Crisis Looms for Ponzi,” Boston Herald, August 13, 1920, p. 1.
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“We think this is the truth”: Curt Norris, “Ponzi,” Yankee, November 1975, p. 115.
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He met reporters again: “Crisis Looms for Ponzi,” Boston Herald, August 12, 1920, p. 1.
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They found Ponzi seated: “Arrests Near in Ponzi Case; Audit Almost Completed,” Boston Daily Globe, August 12, 1920, p. 1; “Arrest in Ponzi Case May Be Made Today,” Boston Post, August 12, 1920, p. 1; “Ponzi Confesses Record in Prisons; Pleads for a Chance,” New York Times, August 12, 1920, p. 1; “Bank Commissioner Takes Possession of Hanover Trust,” Boston Evening Globe, August 11, 1920, p. 1; “Crisis Looms for Ponzi,” Boston Herald, August 12, 1920, p. 1; “Confessed to Forgery to Protect His Friend,” Boston American, August 11, 1920, p. 1; “Sleuths to View Ponzi,” Boston Traveler, August 11, 1920, p. 1.
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“The statement that I am about to make”: A stenographer was present when Ponzi made his statement, which was then shared with all the newspapers. Several printed it verbatim or nearly so, including: “Arrest in Ponzi Case May Be Made Today,” Boston Post, August 12, 1920, p. 1, and “Took Blame to Shield Employer, Says Ponzi,” Boston Daily Globe, August 12, 1920, p. 1.
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He paused and turned to McIsaac: “Arrest in Ponzi Case May Be Made Today,” Boston Post, August 12, 1920, p. 1.
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he’d acted to save Zarossi: “Crisis Loom for Ponzi,” Boston Herald, August 12, 1920, p. 1.
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When he had finished his statement: “Arrest in Ponzi Case May Be Made Today,