Ok, for weeks we've been reading about Madoff and his 30 year Ponzi scheme. I just don't believe that no one else knew about this. Every other Ponzi scheme out there is built on a handful of people at the top. Every one of them. So how is it that this one scheister can steal BILLIONS, bypass all the regulatory organizations, fool sharp, successful people all over the WORLD,and be acting alone?
There is NO WAY. Well, maybe. He rode on the laurels of past success. He knew how to bilk people. He was blue coat enough that people bought his bs.
But I can not believe he was acting totally alone. Someone else had to know.
But he also had something invested. His trust and his integrity were the main reason people invested with him. But why didn't they bother to do some of their own research? Why didn't they do the basic checks to review statements or review portfolios? What was stopping them? Trust?
Or was it that they just didn't want to bother?
Investing isn't magic.
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