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Devil's Advocate: Bernard Madoff used to be chairman of nasdaq and was only "caught" because he confessed. Even when the SEC was told point blank by Harry Marko
by felipemnoa 15y ago
Devil's Advocate: Bernard Madoff used to be chairman of nasdaq and was only "caught" because he confessed. Even when the SEC was told point blank by Harry Markopolos that Madoff was a fraud nobody did anything.
When lots of money is involved some people turn a blind eye if it benefits them.
- Hitchhiker 15y agoDevil's Advocate #2: The entire US ( for that matter, the world ) economy is now functionally a casino. I am sure you've read Liar's Poker, Long-Term Capital Management etc. When lots of money is involved, smart people do not turn a blind eye, they just ensure that the fine-print on contracts are done in such a way that their house is safe.