There are many opinions about these guy and not all views agree that this person is mad and they declared Madoff is just a money maker and thatâs why he could do that We need to sit and think carefully the real conditions and reason that situation happened I have two good articles about it from forbes http://www.forbes.com/opinions/2008/12/16/madoff-fraud-investments-oped-cx_ak_1216kessler.html http://www.forbes.com/opinions/2008/12/14/madoff-jewish-ponzi-oped-cx_pdb_1214broughton.html There are different ways to see the problem, and as stated before here Madoff is almost impossible to investigate
He is simply a genius or he was, I donât know if he is still making tons of money but the only one who deals with the conscience is him, jeje I donât think he regrets anything
One post wonders signing up to defend Madoff? Newton was a genius. Madoff is a good argument for bringing back public drawing and quartering or burning at the stake. After a few Madoff's get torched, I'll bet the fraud rate would drop off pretty fast.
i could think of a couple of things that a mafia don would do to his family, nothing lethal, and to keep him alive and well, to ensure he regrets putting them thru this... it wouldn't even cost much at all... keep'em "geniuses" coming...
and to the original concept of the thread, the NYPOST cover.......... "The Most Hated Man in NY". Nice. Must be so proud. If you ever wanted to see a crowd tear a man apart, if you missed the Mussolini hanging, let this guy walk down 6th Avenue by himself.
Everyone is blaming Madoff, but the point that most are missing is that he did not pull this off himself. Think of what it takes. It takes a coordinated effort by multiple individuals. Is there any way a single man could pull this off himself? Any way whatsoever?
Of course there isnât, but a head is required though, and thereâs also have to be a precedent, something like Charles Ponzi.
He walked down Lexington Ave with a smile on his face Wed, Dec 17, 2008 See pic #13 http://www.newsday.com/news/local/photos/ny-mmliphoto,0,7885253.photogallery
I strongly disagree with the statement that quant risk management/VAR is useless. It is not sufficient but it is neccessary. I agree that it doesn't work for tail risk and you have to add on management judgement, extreme scenarios, etc but that is not what VAR is for. Even if it does not work for worst day of the decade events, you need to understand your exposure to normal worst day of the year type events to function, and quant risk management is generally capable of that. I think everybody knows risk management's limitations (except those who intentionally play dumb) but without it you think people would take less risk? There is no excuse for blowing up on a moderately bad day, and institutional traders playing with other people's money are more likely to take that type of risk without modern risk management.