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Bernie Madoff, architect of the largest Ponzi scheme in American history, died on Wednesday in federal prison, 11 years into his 150-year sentence.

Axios Re:Cap digs into Madoff’s crimes, what they revealed about America's financial system and what changed after the scheme came crashing down with Diana B. Henriques, author of the The Wizard of Lies: Bernie Madoff and the Death of Trust.

Go deeper

Felix Salmon, author of Capital
Apr 15, 2021 - Economy & Business

Bernie Madoff was the biggest Wall Street disrupter

Illustration: Aïda Amer/Axios

Bernie Madoff died yesterday — a man who arguably did more to disrupt Wall Street than anybody else in the past 30 years.

Why it matters: Madoff invented payment for order flow, the controversial technique that allows brokerages like Robinhood to charge $0 commission.

57 mins ago - Health

Study: Over 99% of hospitalized COVID-19 patients were not vaccinated

Photo: Joe Raedle/Getty Images

The Cleveland Clinic on Tuesday released a study showing that 99.75% of patients hospitalized with COVID-19 between Jan. 1 and April 13 were not fully vaccinated, according to data provided to Axios.

Why it matters: Real-world evidence continues to show coronavirus vaccines are effective at keeping people from dying and out of hospitals. The Pfizer-BioNTech and Moderna vaccines have been found to be 95% and 94% effective, respectively, at preventing symptomatic infections.

2 hours ago - Health

Biden reaches agreements with Uber and Lyft to give free rides to vaccine sites

The Biden administration has reached agreements with ride-sharing companies Uber and Lyft to offer free rides to coronavirus vaccination sites through July 4, the White House announced Tuesday.

Why it matters: The free rides, starting in the next two weeks, are part of the Biden administration's push to administer at least one vaccine dose to 70% of U.S. adults by Independence Day.