By Scott Tobias, The Washington Post When the Bernie Madoff scandal broke in mid-December 2008, the housing bubble had burst and the economy was in free fall, closing the year on a four-mouth stretch in which 2.4 million people lost their jobs — and the hemorrhaging wasn’t nearly over yet. At the time, the average American couldn’t make sense of terms such as “credit default swaps” and “collateralized debt obligations,” and not only was Wall Street not paying for its recklessness, it needed a bailout from taxpayers to stanch the bleeding. For running the biggest Ponzi scheme in U.S.