Wow, talk about [URL="http://online.wsj.com/article/SB122914169719104017.html"]the biggest pyramid scheme ever[/URL]. Me think this is the end of the road for private hedge funds.
this goof ball should be facing major jail time. i guess there is no such thing as " enough"
I have a hard time feeling much pity for Senor Speilbergo. It's greed. I don't want 6% on my 200 million, I must have 11%. Well, nobody gets 11% forever and always. Next time. buy real estate.
I don't feel sorry for any of these guys. How f'ing stupid can you be to think someone can deliver consistent positive rate of return, even in a downturn market. With the kind of money they have shouldn't they have personal accountants and investors to watch their investments?
The real problem is how the SEC allowed for an environment where people like Madoff can get away with setting up a Ponzi Scheme and fleece 50 billion from people.
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