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These people worked hard for their money and I feel sorry for them and some people are respondsible that they have looked the other way, and they knew a scam was going on. I don't believe that Madoff could have done it by him self.
First, these citziens have the same right to be restituted as anyone.
Second, investing in hedge funds is highly risky, but it's a scam what are we talking about here.
Third, Madoff himself and maybe the SEC should be accounted responsible for the mess
Four, if these people knew that something was rotten in Denmark and they kept giving their money to Madoff, then all of above are pointless and I'd say screw 'em.
nobody put a gun to the investors heads and forced them to invest there! the investors knew there was no transparency but they still put their money there.
i worked for 4 years mainly on hedge fund conferences. i put together more than 20 of these events. i don't recall one event where the transparency issue didn't come up. personally, i would never invest in something where i had zero clue as to what was being done with my money. it's all a matter of risk appetite. these guys wanted huge returns without risk. it's kinda like some people who want to eat ice cream all day, play video games and stay fit and slim.
I'm speechless..just speechless..restitution for high risk investments that had little to no protection ? I imagine there's SIPC but that certainly won't pay the billions lost.
Someone needs to speak up about all the 401K's that have lost money and seek restitution.
snippet:
"Hedge fund trade association the Alternative Investment Management Association (Aima) called on Monday for restitution for investors caught out by an alleged $50 billion fraud at New York hedge fund firm Madoff Securities.
..
For decades the $1.5 trillion hedge fund industry has avoided the strict rules imposed on mutual funds as their managers argued that their clients were wealthier, more savvy investors who required less protection."
the worst thing to come out of all of this will be the orwellian measures taken by the government. This market does not need to be regulated, it just needs a maddof type character to remind everyone of "CAVEAT EMPTOR"
If somebody steals your wallet, only they are responsible for your loss.
If you hand them your wallet willingly, then close your eyes and they run away with it, you both share responsibilty .
When the guy you're willing to hand your wallet to wears a black mask, promises to return it to you with twice as much in it and won't allow you to watch him while he's holding it..........
These people worked hard for their money and I feel sorry for them and some people are respondsible that they have looked the other way, and they knew a scam was going on. I don't believe that Madoff could have done it by him self.
Why is the man out on bail!!!!
i'd love to know that too, why is he out on bail? i hope the authorities trace all the money he has siphoned off into his family's accounts, trust funds etc. all of it should be repo'ed
First, these citziens have the same right to be restituted as anyone.
Second, investing in hedge funds is highly risky, but it's a scam what are we talking about here.
Third, Madoff himself and maybe the SEC should be accounted responsible for the mess
Four, if these people knew that something was rotten in Denmark and they kept giving their money to Madoff, then all of above are pointless and I'd say screw 'em.
so who must pay then?
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