GPWizard F1 Forum
Everything Else => Off Topic => Topic started by: Dare on March 12, 2009, 04:20:24 PM
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I don't understand these crooks.They have money
and a life style most of us long for,but enough is never
enough
http://www.msnbc.msn.com/id/29651773?GT1=43001 (http://www.msnbc.msn.com/id/29651773?GT1=43001)
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I don't understand why he isn't sitting on some nice island with no extradition, sipping on an umbrella drink & thumbing his nose at the Justice Department. Take the money & run!
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Seriously, I was thinking about Madoff. I see the solution that would be fair. Go through his books, and claw back all the returns he paid out to previous investors (get a court order, or whatever), then put all that money together and split it among the investors that lost everything proportionally to what they had invested. I suspect that everyone would be fairly pleased because they probably wouldn't have lost as much as they would have in the stock market during the same time.
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I find it very odd that Madoff can claim it has always been a Ponsi scheme, was there never an audit in all the years he has been taking investments? :confused:
In such a litigous country as the US I would expect a flood of writs for negligence against any auditors or accounting firms connected to the Madoff schemes.
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That's not all - the SEC was tipped off by some wary investors to check into him numerous times and did nothing. Oh no, this is just the start...I think some other people are going to be asked some hard questions.
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Government oversight became a bad joke during the Bush regime. That's why our entire financial situation is in the state it's in, and why so any have died from poisonous foods, toxic toys and deadly prescription drugs.