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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (43898)12/14/2008 6:48:11 PM
From: TobagoJack1 Recommendation  Read Replies (3) | Respond to of 220344
 
so far, from the apparent known knowns, the madoff affair is elegant in its simplicity, direct in its boldness, putting to shame the schema that is goldman sachs, the convolution that must be fannie mae and the a bit more complicated fed



To: Snowshoe who wrote (43898)12/14/2008 6:58:39 PM
From: KyrosL  Respond to of 220344
 
One of the problems facing European banks is that some of the Madoff-derived funds they were running were leveraged 2 or 3 to 1. The banks provided the borrowings for the hedge funds, secured by the Madoff "equity". So those banks will end up losing more than their hedge fund customers. So far I have not read anything about any US hedge funds leveraging Madoff funds.


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