Monday, December 15, 2008

Barron's Bernie Madoff Interview

Too bad it's from 2001.

"When Barron's asked Madoff Friday how he accomplishes this, he said, "It's
a proprietary strategy. I can't go into it in great detail.""

Seriously, though, Barron's did make an effort to question the Madoff returns years ago, but the guy was walking on water at the time. The fact that this could go unchecked for such a long time and on such a large scale is going to further undrmine folks' confidence in the players in the market, not just the markets.

The SEC needs to start hiring some real talent, pronto.

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