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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bkcraun who wrote (171702)12/16/2008 2:50:19 PM
From: XoFruitCakeRead Replies (1) of 306849
 
"So after years of these "investors" making more money than they should have, the government is going to save them from Mr. Madoff and their own stupidity? Something is very wrong with this."

heh heh, I think you may want to read the fine print. The "saving" here is through SIPC which only insure each account up to 500K. Most of the loss come from feeder fund, which I assume is not insured since they are technically only one account at Madoff's fund for each feeder fund (which can run into hundred of millions or billion of dollars). The lawsuit expense and the corresponding raising of insurance fee will be punishment for the hedge fund industry. Now that a lot of these fund of funds operation is exposed to be doing nothing more than going 100% all in a questionable entity should raise question on the long term viability of that industry. So a lot of head will roll as well...
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