oops. they found 65 dollars, not that other amount. speaking of 65 humungous, where the fk did all that actually go. It can't have been lost.
He could only keep going if the market went up, and the 65 billion would have just been paper profit. You buy GOOG at $700 and hang on to $350.00. Were did that $350 go? It was just paper profit.
In one respect you only lost what Bernie said you lost. OTH, if you had taken out the orginal investment over the years, you lost nothing. If your original investment to Madoff was paper profits on a different "honest" ponzi (compound interest, leverage and time for instance). This money could have been lost in other ways besides Madoff, in these current conditions.
What is the difference between Madoff and Dick Fuld? The method? Or GM and Madoff? Madoff cut out the middleman, the transactions.
no , these are not explanations. Was this money mostly paid out in DIVs to older investors or what? No way this money was simply lost. It was never even freaking invested to begin with. He didn't spend it. The press has done a piss poor job of enlightenment here.
Ya know, Marco polo is the math whiz, I wonder why he never offered up an explanation or speculation. Madoff would have to show income to support his life style via tax returns. He cannot spend like a billionaire with millionaire income, the numbers would not reconcile on tax returns. Spreading 65 billion over a customer list of 2500 investors and taking a cut for himself leaves the numbers out of whack.