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Sean Ryan
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Sean Ryan covers the financial services sector for independent research firm Wisco Research. He has covered the financial services sector for 16 years on both the buy-side and sell-side. He began his career at Lehman Brothers, subsequently covered large-cap banks at Bear Stearns, was among the... More
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Pecuniarius
  • In Which I Blame Madoff’s Victims 0 comments
    Sep 19, 2009 3:22 PM

    This week Wells Fargo fired SVP/Head of Commercial ORE Cheronda Guyton for having installed herself in a foreclosed Malibu beach house previously owned by a pair of Bernie Madoff victims.

    Ms. Guyton is certainly guilty of poor judgment in this instance. At the same time, I can’t help seeing her as a victim of circumstance to a large degree. At bottom the story contains two combustible elements - a large bank that received billions of taxpayer dollars in possession of  foreclosed home, and a pair of displaced Madoff victims.

    In a way, Ms. Guyton's responsibility for her situation parallels the complicity of many if not most of Madoff's victims in their own swindling:

    http://www.pecuniarius.com/blog/?p=187

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