Quote:
Originally Posted by pwd72s
Has anybody noticed that Bernie Madoff died recently?
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Yes, that was on the news today. Amazing that everyone (almost everyone) turned a blind eye to what was going on there. The French fellow who ended up committing suicide - I used to work for that guy on Wall Street many, many, many years ago. Sad story. They actually recovered quite a bit in the "liquidation" process - I think near 80% - which cements the "story" by Madoff that he was just shuffling money from one party to another in an attempt to appease people and look good. This 80% of course, was only the original principle - they had to claw it back from people who had been paid dividends over the years. Complex stuff...
-Wayne