If Madoff had been as<strike> smart</strike> dishonest as Niederhoffer then this thread woulda been buried three years ago in it's tracks.
Three years ago, someone close to Madoff knew about the fraud and posted this bogus rumor. Makes a lot more sense than Spitzer or the SEC doing nothing. Any meaningful examination would have revealed the fraud. 6 month delay I can believe. 3 years? No one is that incompetent
But 3 years ago was there big media news about investigation of Madoff? Or was the original poster on ET who speculate about Madoff fund being investigated by SEC or Spitzer just one person who knew of investigation. So not mainstream news at 3 years ago?
Maybe not incompetent, but who knows who were original investors at top of the ponzi scheme? Protected?