Monday, 12 January 2009

It fell off the back of a lorry

One of the issues being brought to light by the reporting on the alleged Madoff fraud is that some of the investors recognised that the returns were too good to be true, but rationalised their continued participation on the grounds that Madoff was probably using insider dealing ( illegal of course) to achieve them. Rather akin to buying luxury goods which might have been stolen and then discovering they were fake.

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