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Strategies & Market Trends : Value Investing
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From: Paul Senior2/20/2009 8:39:43 PM
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OT. (Fri. night cocktail post after a week of stock market pain)

I am totally amazed and impressed with Bernie Madoff's skills. In the last 13 years being in business, it comes out that the SEC can find no record or any transactions. lol (as I shake my head). What a guy. What a scam.

Here's the quote: "We have no evidence to indicate securities were purchased for customer accounts" in the past 13 years", from here
news.yahoo.com

I am assuming- foolish me - that our SEC can find something when they go looking for it. Esp. when they are now being kicked around for the pathetic incompetents that they are portrayed.

Here's a picture of Bernie in front of his traders:

time.com

I count eight heads. Were they in on it? Was the picture photoshopped? No records of trades from these guys going to customers?. Were those computers even connected? You got to hand to the people who were in on the scam. Great job.

Too bad some of you SI guys aren't here with me as I sip my drink. Would try to ask for some judeo-christian concept talk stuff. With my limited knowledge of religion/ethics/morality, as I understand it, "an eye for an eye, tooth for a tooth" means the punishment or revenge should be appropriate to what the crime was. Somehow though, when the whole of society is affected by something, when so many people are materially affected - almost or actually devastated - by the behavior of a person like Bernie, it just seems to me that such person should be "socially subtracted" by a firing squad or hangman's noose. I wonder if that could be justified.
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