DIYbanter - #OT# More on Madoff's 50 billion fraud

On 2008-12-18, Wes wrote:
"John R. Carroll" wrote:

One of Europes big firms took one look at Madoff's books as part of a due
diligence audit and pulled the plug.
I've forgotten now whichit was but I believe they were French.
The model they had wouldn't run using the information provided and
apparently it was very obvious that some sort of shenanigans were going on.

I have not seen that one but opinion journal had a piece on how Madoff worked the ethnic
angle where those of ones kind tend to trust their kind.

The Jew angle is in the story and I have no issue with Jews for any one that reads that
into this.

http://online.wsj.com/article/SB122956340954216799.html

Interestingly enough, those who were cheated by Madoff were Jews, as
well, as far as any personal names that I heard so far are concerned.

There is a book about Ponzi schemes, which I happened to have read
this year. It is called _You Can't Cheat an Honest Man_.

http://www.amazon.com/You-Cant-Cheat.../dp/1563431696

It is very interesting and instructive, and specifically it says that
Ponzi schemers very often target their own ethnic group.

The book is highly recommended, by the way. Many fun examples and
insightful conclusions.

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