A “Giant Ponzi Scheme” – Interview with Aksia CEO Jim Vos: Advised Clients Not to Invest with Madoff
Bloomberg:
WSJ:
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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December 12th, 2008 at 5:45 pm
Is that what you call that? Insight? I call it getting paid vast sums to blather banalities
December 12th, 2008 at 10:22 pm
Sounds like Madoff made off with the money, huh? I guess he figured if he had the name he might as well use it.
December 13th, 2008 at 11:16 pm
Fifty billion is one-tenth of one percent of American assets. It’s concentrated in New York and Florida, yet there is some overseas too. Not an insignificant amount of capital removed from the system at a time when marginal losses are not needed. Those seven billion in redemptions had places to go no doubt. I would find out who the micro accounting firm’s other clients are, pronto.
My heart goes out to the people who have lost wealth to this charlatan.