Tag Madoff

SEC skipped normal inspection of Madoff hedge fund

Why am I not surprised? Governmental regulatory agencies under Bush have repeatedly abdicated their responsibility. The only real question is, did anyone get paid off, and given the amounts of money involved, I’d be surprised if no one did.

So where did Madoff’s $50 billion go?

Madoff confessed $50 billion fraud before FBI arrest His clients were hedge funds, presumably not idiots, yet they didn’t know. Seems odd. How can that much money vanish and was this just a solitary amoral greedhead or was it, um,…

More Wall Street pond scum arrested

Bernard L. Madoff, a legend among Wall Street traders, was arrested on Thursday morning by federal agents and charged with criminal securities fraud stemming from his company’s money management business. He apparently admitted that his decades-long business was a giant…