karen1122
12-13-2008, 06:20 AM
http://www.cnbc.com/id/28195029
This one just absolutely floors me on several levels.
1- How can you get away with this for so long under the regulators noses even when there are so many red flags
2- The investors, who are typically intelegent people with lots of resources, can't figure out how he was producing the returns he did and still invest with him. One group even tried to reverse engineer his trades and could not come up with the results he did.
3- Some investors though that he was doing something illegal (even though the guessed wrong and though it was all about insider trading) but still invested with him. A great indicator of the ethics in the financial community.
4- $50 billion!!!!!!! To put that in perspective this is:
- 3 times the amount of money needed to "save" Ford, GM and Chrysler
- would rank 64th in the list of GDP for world countries (115 countries have GDP's lower than $50 billion!!!!)
This one just absolutely floors me on several levels.
1- How can you get away with this for so long under the regulators noses even when there are so many red flags
2- The investors, who are typically intelegent people with lots of resources, can't figure out how he was producing the returns he did and still invest with him. One group even tried to reverse engineer his trades and could not come up with the results he did.
3- Some investors though that he was doing something illegal (even though the guessed wrong and though it was all about insider trading) but still invested with him. A great indicator of the ethics in the financial community.
4- $50 billion!!!!!!! To put that in perspective this is:
- 3 times the amount of money needed to "save" Ford, GM and Chrysler
- would rank 64th in the list of GDP for world countries (115 countries have GDP's lower than $50 billion!!!!)