| Bernard L. Madoff allegedly tricked defrauded | | | | right now. So, in reality his Hedge Fun was much more |
| investors in a Ponzi scheme, the investment company | | | | efficient, he just took the money, while the others |
| (Hedge Fund) still has Billions of Assets apparently, | | | | traded it into oblivion on complete nonsense. One |
| which will be divided up and some investors may see | | | | method we call appalling and the other we call criminal, |
| at least a very small portion of their money. If all the | | | | but mind you the net result is indeed the same for the |
| news reports are correct, this will indeed, be the | | | | investor who has lost all their money. |
| biggest Ponzi scheme in the history of humankind, one | | | | In essence Mr. Madoff skipped all the bull, and more |
| that went on for about 35-years, although we do not | | | | efficiently took the money, while the other hedge funds |
| know yet if it was fraudulent from the get-go, as at | | | | wasted it on a scheme they knew or should have |
| one time it may have been legit. | | | | known was ridiculous, tossing around hot potatoes, and |
| What we do know is that this scandal has rocked the | | | | dancing around parked chairs with broken legs, with |
| financial world and affected many industry sectors | | | | too many players until the music stopped. Well, now |
| from Entertainment to Commercial Real Estate and | | | | the music is completely stopped for everyone so from |
| from Banking to the Non Profit Sector. One has to ask | | | | a philosophical standpoint and the ethics of Ponzi |
| where on Earth were the regulators during the last | | | | Schemes aside, what's the difference in the end. |
| three decades? There are all sorts of speculation and | | | | Everyone still loses. |
| perhaps Madoff got a free ride due to his careful | | | | Both Hedge Fund methods in this case are illusions, Mr. |
| approach to whose money he took, his coziness with | | | | Madoff's illusion at least lasted longer (three decades), |
| the SEC, and his spotless reputation on Wall Street. | | | | while the other Hedge Funds playing credit default |
| Now then, let's back up for a second and discuss a | | | | swaps lasted for a brief flicker of time. Why did all this |
| little philosophy shall we. We are calling Bernard L. | | | | happen and why do people feel entitled to make |
| Madoff a fraudster and yet, his is not the only hedge | | | | billions of dollars they didn't earn, don't deserve, and we |
| fund that lost everyone's money. Many other hedge | | | | all have to pay for in the end. And before we answer |
| funds promised huge returns and did quite well trading | | | | that shouldn't we hold up a mirror to the whole of |
| garbage and playing with Credit Default Swaps, | | | | society and ask ourselves about this "entitlement" |
| obviously they realized that such a game was built on | | | | myth, as it seems to permeate humanity. |
| a foundation of swamp gas. Many of these Hedge | | | | I guess my questions are; |
| Funds lost everyone's money too. | | | | |
| Mr. Madoff, did not lose everyone's money investing | | | | 1. Who is next to fall? |
| because he wasn't investing any, except perhaps a | | | | 2. Why are we so surprised? |
| little for show, or so we believe from media reports | | | | 3. What brilliant financial Ponzi Scheme is next? |