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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (157729)	1/9/2009 8:01:15 AM
From: altair19	Read Replies (4) \| Respond to of 362605

S2 <Madoff Con Hits Boston> The Shapiro family were one of the biggest givers in the Boston area - significant impact. As all the stories begin to unfold, you have to believe this thing went well beyond Bernie Madoff. There has to be tons of money sitting in Luxembourg, the Caymans, Switzerland...maybe even warehouses... etc. I think I told you about a small independent school that lost $480k.....in their endowment,it was buried in a "fund of hedge funds"...because their normal audit process didn't have complete access to the hedge fund's methodology of investment, there was no way they could see it. And, that $480k goes "poof"...no shares or anything that have a chance to recover value....just "poof"....gone. Altair19