LadyEllen
Posts: 10931
Joined: 6/30/2006 From: Stourport-England Status: offline
|
I truly doubt we shall ever get to the bottom of this one for the reason that doing so would turn up enormous quantities of evidence of negligence and omission on the parts of banks, hedge funds and other investment firms who piled money into Madof's schemes - their own or others' money, with a total absence of any due diligence, as well as the same evidence in relation to regulators appointed and managed by government. For such to be demonstrably shown would not only be severely embarassing for such but it should also open them up to numerous claims for compensation for their errors from their investors in turn. The embarassment to those considered in our socio-economic system to be as gods would be reason enough for further investigation to be avoided, but the prospect of these gods then facing lawsuits and having to settle multiple claims amounting to billions would seal any deal. In addition of course there is also the small chance that such investigation might implicate banks, hedge funds and other investment firms, not in Madof's crimes themselves, but in other crimes relating to their conduct, adding to the civil liability possible criminal liability too. In relation to comments about individual investors being stupid to invest in Madof's scheme, its also important to remember that the majority of these had no idea where their money was; they had entrusted it to banks, hedge funds and other investment firms who then put it into Madof. They should not be regarded as foolish - it could have happened to anyone unfortunate enough to have picked the wrong horse, not knowing who the jockey would be. As for Madof himself, that the US has not as I understand it signed up the UN charter on human rights and in recent constitutional history has made important distinctions between various forms of treatment which do or do not violate "cruel and unusual punishment" is interesting; research into Alzheimer's could no doubt be advanced significantly were a human subject be available to replace the rats and mice used presently, and this would also satisfy the calls for this particular brand of vermin to live out his life in hell, so everyone wins. E
_____________________________
In a test against the leading brand, 9 out of 10 participants couldnt tell the difference. Dumbasses.
|