Having read some interesting commentary on Niderhoffer's site, I tend to agree that $50 billion in losses is an outright lie and at the very least an extreme exageration. It seems that most of the money likely went back to the investors as it would be nearly impossible to hide or spend that much http://www.dailyspeculations.com/wordpress/?p=3444 any thoughts?
Well ofcourse, If your going to turn yourself into the cops and say you lost/stole money you say something huge and insane so basically if the feds are able to recover 1-4 billion (They will be happy) he will still be able to pocket a large chunk of the money in oversea accounts after all the dust has settled. At this point he really has no advantage whats so ever in saying he lost less than what he stole. If your going to do it big do it all way or don't play. This man is a genius, his family and close nit network of fund managers, auditors and the SEC pulled a fast one on the many investors tied to his fund. If anyone think's Madoff worked alone are probably helping him hide funds. I personally would not have a problem living a filthy rich life for 30+ odd years scamming dumb investors knowing that I could set my family up for many generations to come at the cost of spending the rest of my life in Jail from the age of 70 onward. Only in America can dreams like these be accomplished. Most extremely wealthy American's are either 1) Born Rich, 2) Marry Rich, or 3) Steal it. I can't wait for the Book - God Bless America!
Yes! you're a true kiss ass, name dropping wannabee. A spineless jellyfish who cried their way back to ET (the ultimate humiliation). madoff destroyed the lives of soo many people, and so throroughly and maliciously embarrassed the jewish and NY communities, that any meaningless speculation that the losses were "not as much as thought" makes me sick to my stomach. He destroyed so much of the fabric of society, yet you want to speculate that "losses aren't as bad as thought". You are a true fat loser (if that's you in the pics). I'd like to pound on you for starting this idiotic thread.
Here's a thought... If Madoff wasn't making any money but still distributing income to investors, perhaps some of the investors got back "most" of the money.... their own plus some other peoples'. Interviews indicated some people had been investing with him for 20-30 years. If they had been pulling out annual distributions of 9-12%, all of the money could have been paid out. Of course, investors THOUGHT they were pulling out "income only" and were expecting their principle to still be on deposit... not likely the case.
Making any speculation about what Madoff did must include the lives that he destroyed, and in this case, at least one death that he caused (albeit indirectly). Doing so in a cavalier manner shows a certain amount of insensitivity. I am sure no one would be starting trivial threads about Madoff if they (or their loved ones) had suffered losses from him.
I don't find the situation trivial in the least. however, i do find potentially exagerated number statements, designed to bolster the infamy of the perpetrator, open for speculation and questioning. best, surf
where do you think it went? do you really think the investors would keep investing if they were not getting nice returns? i contend that much of it, did actually get returned to the investors in some fashion. Ofcourse this does not mitigate the losses of others in anyway.