He Madoff with HOW much??

[financeguy]

that's a lot to read

I am still trying to finish The Black Swan

I'm about 55% through.

Great book, that.

 

[financeguy]

Seriously

this guy did not pull this off by himself

there has got to be several other high up people that knew these numbers were a sham

It's not just that, but there were people that must have benefited massively from the fraud, apart from Bernie and his immediate family - not necessarily intentionally. That's how a Ponzi works - money is taken out of people's accounts to meet the investment returns promised on redemptions. The latter end up profiting, but their gains are of course illegitimate, even if they weren't involved in the fraud.

Bernie didn't spend 50b, or even 8b. He had three or four houses, but he wasn't that extravagant in terms of lifestyle.

I guess if I was investigating this, I'd be looking at the feeder funds that are staying silent and haven't complained that they lost money they invested with Bernie Madoff.

 

[Headache in a Suitcase]

All I know is that this guy fucked the mets.