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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (174314)12/29/2008 4:32:23 PM
From: tejekRead Replies (2) | Respond to of 306849
 
Why would Madoff have STARTED OUT with a Ponzi scheme? There was no reason for it. No, I think he had a big name a big fund and a big image/ego, and he made a few bad bets and wiped himself out. Probably this decade sometime.

It would not surprise me if you're right. He certainly doesn't look like a con man.



To: Lizzie Tudor who wrote (174314)12/29/2008 5:02:57 PM
From: patron_anejo_por_favorRead Replies (3) | Respond to of 306849
 
I think Madoff resorted to Ponzi in the 2000 bear. He had not only declining stock values to contend with, but they got rid of fractions and started using decimal stock trade increments, which jammed his main cash cow (the trade-clearing firm). Out of desparation he prolly did it at first just to cover a few withdrawals, but then the evil light bulb went off and he luged down the slippery slope.


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