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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (16309)1/14/2009 4:22:03 PM
From: carranza21 Recommendation  Read Replies (1) | Respond to of 71454
 
Its the audits - or lack of them - plus the mysterious 'proprietary' methods plus the fact that it has to be devilishly difficult to pull off a scam of the magnitude all by himself that makes me think he had help. Or willingly ignorant folks referring clients to him.

theeagle.com

I have read a 20+ point anonymous memo to the SEC - no, not the one which is in the news - in which someone quite sophisticated made mincemeat of Madoff's methods.

Who knows.

Bad for the system.

I no longer trust brokers, investment bankers, anyone on Wall St.,including the SEC. They are all presumptively stupid, greedy or corrupt unless shown otherwise. This is probably a wrong assessment, I know, but I bet you 1000 shares of Berkshire that this is how most Americans feel. Foreigners burned by subprime? Hah! If I lived in Norway, Sweden, China, etc., I wouldn't dream of trusting an American financial institution with a pfennig.

Gary Aguirre is a friend. Perhaps you've heard of him.

nytimes.com

iht.com



To: Real Man who wrote (16309)1/14/2009 4:56:12 PM
From: RockyBalboa3 Recommendations  Read Replies (6) | Respond to of 71454
 
True or not Madoff may have traded some options but nowhere near in the size required. The listed options market is not that deep; his alleged holdings would have exceeded the open interest in some S&P or stock options.

But interesting anyways; like the Satyam guys he rode a growing tiger which would eat him in case he tries to get off. Which did. Begs the question: Who´s next?


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