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Robbien (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:20 PM Original message |
Madoff trustee: No securities bought for customers in 13 years |
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Taverner (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:23 PM Response to Original message |
1. Wow...just fucking wow |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:24 PM Response to Original message |
2. A Classic Ponzi Scheme... |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:42 PM Response to Reply #2 |
11. Because Secrecy + Leverage Is The Perfect Recipe For A Ponzi Scheme? |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:26 PM Response to Original message |
3. Madoff, Petters, Stanford... |
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Baby Snooks (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 07:30 PM Response to Reply #3 |
20. Plus 52,000 possible tax evaders... |
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hugo_from_TN (895 posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:27 PM Response to Original message |
4. I'm assuming they'll be going after anyone who cashed out |
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Stephanie (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:30 PM Response to Reply #4 |
6. Would they be liable to pay back earnings above their initial investment? |
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Robbien (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:34 PM Response to Reply #6 |
8. They have already stated they would "clawback" all withdrawals |
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hugo_from_TN (895 posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:38 PM Response to Reply #8 |
9. It will be more than a 'request' |
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Baby Snooks (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 07:55 PM Response to Reply #8 |
21. It gets complicated... |
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Riverman (759 posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:30 PM Response to Original message |
5. Where Did Madoff keep those billions? In banks? Which ones? |
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Robbien (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:42 PM Response to Reply #5 |
10. It appears money never accumulated to very much |
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Riverman (759 posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:50 PM Response to Reply #10 |
12. However much, the cash had to flow thru some financial institutions? |
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Robbien (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 01:03 PM Response to Reply #12 |
14. Update: New article out saying auditors found trail of secret offshore bank accounts |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:32 PM Response to Original message |
7. Am I the only one who finds this hilarious? |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 12:52 PM Response to Reply #7 |
13. No, probably not....but, |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 01:16 PM Response to Reply #13 |
17. I'll tell ya something |
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damntexdem (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 01:04 PM Response to Original message |
15. Well, no wonder they got in trouble! Didn't they realize that 13 was unlucky? |
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pjt7 (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 01:14 PM Response to Reply #15 |
16. give the SEC a break |
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RedEarth (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 03:41 PM Response to Original message |
18. Article from Jan 16, 2009 ,,, Madoff's fund may not have made a single trade |
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aquart (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 04:50 PM Response to Reply #18 |
19. People received statements, didn't they? |
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Baby Snooks (1000+ posts) Send PM | Profile | Ignore | Fri Feb-20-09 08:27 PM Response to Reply #19 |
22. He designed a computer program... |
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