Ann: Market Update, page-22

This BLA could easily have been one big ponzi scheme if not caught out by the short report imo, no one understood what they were invested in. Investors just liked the returns like burnies clients.


Speaking of burnie.

Madoff earned praise from the SEC during the market crash of 1987 for keeping his doors open when others were closed (made possible by the fact that his clients’ assets weren’t actually invested in the crashing market!), and he was chosen to serve as nonexecutive chairman of NASDAQ.

www.econcrises.org/2017/04/20/bernard-l-madoff-investment-securities-2008-2009/