Thursday, April 2, 2009

Willful ignorance ...

As I've said before, I don't want to hear any crying from the people who invested with Bernie Madoff. Most of his investors had a pretty good inkling (except for the SEC, it seems) he was up to no good but their greed trumped their common sense. Sorry, but I ain't bailing your asses out.

Associates of convicted Wall Street swindler Bernard Madoff knew he was scamming his clients but joined in anyway because of the big money they could make, a securities investigator testified in a sworn affidavit for a Connecticut court.

...

"It is my opinion ... that [the funds and their principals] were all aware that Bernard L. Madoff was engaging in illegal conduct in connection with his purported money management operations and intentionally chose to participate and support Madoff's illegal conduct in order to reap enormous illicit financial benefits," he [investigator Edward H. Seidle] stated.

...


STFU and take your lumps. I'm going to work.

Thanks to Chris for the link.

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