Enabling

Last year CNBC was touting the conspicuous consumption of politically-connected Indiana businessman Tim Durham, in a segment called “Untold Wealth: The Rise Of The Super-Rich.” Today Durham is accused by the feds of running a Ponzi scheme. It’s not the first time CNBC has been burned by its fawning coverage (Durham has almost 70 cars “but sometimes loses count”) of tycoons later accused of running Ponzi schemes.