So, in 2001, people were questioning the guy's consistent returns that no one else could duplicate, but no one looked any deeper until now? Hmm.
Good to see you as always, eriposte!
Posted by iamcoyote at December 14, 2008 08:02 AMMadoff is well known in Palm Beach investing circles. He apparently took a lot of money from the rich locals, who suspected he was "dirty". Except they thought he was "dirty" because he was trading on insider information, which explained his consistently good returns, and their desire to stay with Madoff. Hard to feel sorry for these investors when they thought "I think I will invest with the crook because he won't steal from me, just the other crooks on wall street."
Posted by James at December 14, 2008 08:28 AMNice to see you back eRiposte.
I would hope hardcore Wall St. oversight and regulation is coming back. The criminality is out of hand.
The government has controlled the Teamster Union with strict oversight for 20 years, it's about time it does it to the people who are really costing the taxpayer money.
Posted by Seven of Six at December 14, 2008 11:24 AMIamcoyote, SoS - good to hear from you too...
Posted by eriposte at December 14, 2008 08:00 PM