Former Madoff customers argue it wasn't a Ponzi

Discussion in 'Wall St. News' started by dealmaker, Aug 6, 2018.

  1. destriero

    destriero


    Dude, stop. There are 1K pages of docs. She blew-up. First it was suitability; then it was "my orders never went to the exchange." She stopped paying the IO payments within months. She stopped paying, everything. Absolutely it was dumb to fund the account with UBS, but I assume that was required by UBS. IOW she wouldn't have qualified without keeping the funds at UBS.

    Merrill used to offer 80% (of equity) IO morts to HNW and their only requirements for the low rates were that the money stays in-house (cannot finance RE). Most people that take these morts beat the cost of funding. Obviously that is the point. A swap-spread.

    Devil's Advocate: assume that UBS internalized orders. UBS was counterparty to every trade... they would still provide fraudulent confs and statements. "Sells and time" (time and sales) are available to everyone. 2009: you don't need UBS to provide time and sales. Match your conf with the tape. If the orders were worse then marketable (NOT her arg) then MAKE YOUR CASE. She was fighting eviction, period.
     
    Last edited: Aug 7, 2018
    #21     Aug 7, 2018
  2. Maybe,i don't exclude this is what happened

    I would not made a single post to her story,if it wasn't for this dude going on an attack after just one opening post,that gave me a pause.
     
    #22     Aug 7, 2018
  3. destriero

    destriero

    Ok, who cares? You don't even have evidence of the post as it was deleted, so apparently the only one it made an impression on was... you.
     
    #23     Aug 7, 2018
  4. destriero

    destriero


    She used this suitability-argument but the profits were imaginary. Again, assume the PNL was legit. You cannot do 400% and argue suitability. She's certifiable.
     
    #24     Aug 7, 2018
  5. I do,someone replied to his post what was quoted is still there, look at post#15
     
    #25     Aug 7, 2018
  6. destriero

    destriero

    #26     Aug 7, 2018
  7. #27     Aug 7, 2018
  8. destriero

    destriero


    (Edit) Sport, I did. These are pointless. Proof of nothing. You believe that UBS gained something by posting anonymously with personal insults?

    1st link (worthless): https://www.elitetrader.com/et/thre...will-bring-victory.320417/page-6#post-4643765

    2nd link is an empty page of the now deleted alias: https://www.elitetrader.com/et/search/7774429/

    3rd link (post #53) was a quote from deleted alias that proves nothing: https://www.elitetrader.com/et/thre...will-bring-victory.320417/page-6#post-4643753

    4th link similarly worthless: https://www.elitetrader.com/et/thre...will-bring-victory.320417/page-5#post-4643732



    Dude, face facts. You blowing up doesn't make the broker a fraud. It kinda makes you the fraud.
     
    Last edited: Aug 7, 2018
    #28     Aug 7, 2018
  9. Obviously Baron deleted the posts as they were not nice so why you two fighting over it haha.
     
    #29     Aug 7, 2018
  10. #30     Aug 7, 2018