BBC: Bernard Madoff says banks knew of Ponzi scheme

jannyk

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Wed Feb-16-11 05:56 AM
Original message

BBC: Bernard Madoff says banks knew of Ponzi scheme

Edited on Wed Feb-16-11 05:57 AM by jannyk

<<Madoff is serving 150 years in jail in the US for a $65bn (£40bn) fraud which deprived thousands of investors of their savings. Now he has told the New York Times a variety of banks and hedge funds "had to know" about his Ponzi scheme.

Madoff claimed banks and hedge funds who had dealings with his investment advisory firm showed a "willful blindness" toward his activities. He also alleged they failed to examine discrepancies between his regulatory filings and other information.

"But the attitude was sort of, 'If you're doing something wrong, we don't want to know'," he said.>>

http://www.bbc.co.uk/news/business-12478740

Names Bernie Boy, drop some fucking names!!

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Hannah Bell

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Wed Feb-16-11 06:04 AM
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1. i think that's pretty certain.

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maryf

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Wed Feb-16-11 06:13 AM
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2. Of course

and many of us are complicit through our lack of protest...

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formercia

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Wed Feb-16-11 09:15 AM
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3. It's legal as long as one doesn't break the 11th Commandment:

Don't get caught.

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