There has to be more to the Madhoff story than meets the eye. First of all, he wasn't "exposed". He confessed. He was the one that shut it off. Second, he is still walking around with a shit-eating grin. Third, the split-strike conversion strategy DOES make money - just not as much as he claimed. Fourth, he had a very lucrative market-making and trading business - he did not need to run a scam. And last, the reported size of the investment side - $50 billion - is just too staggering large to be a Ponzi scheme over that many years. Can you imagine the amount of new investors he would have to attract to make the payouts? And how do you keep those new investors coming in a steady stream over ten years with no hiccup? Impossible.
Makes me wonder if Madhoff pulled of some insider deals, or had a pact with some untouchable political figure, or a "player" who gave him a choice between the devil and the deep blue sea. Maybe someone else was that hidden source and the real reason for his getting out of the game.
Stay tuned.
LOOOL Will you stop entertaining me...? I stopped work here to read yours posts :-) By the way, I have JUST created a new blog called LEGAL INTEGRITY, where I intend to open space to voices who want to contribute to the rescue of integrity in the dirty rotten messy legal system, balancing good and bad scenarios, like the inauguration post "TWO TRUE STORIES". I won't have time to proofread and develop the better today, but is hot from the oven, and I'll be back to charge tomorrow, and for the rest of my life. This is a personal quest I took upon me and you bet the fun is just beginning:0)
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