smurphny

Don't Be Scammed by Madoff Investor Sob Stories

I am not surprised that many of the hedge fund investors did not see a scam. These thieves did not even need to be clever in hiding their activities because the SEC was out to lunch, asleep at the switch, in the pocket of special interests. Nonetheless, I find it difficult to feel sorry for the elbow rubbing rich. Hedge funds need strict, enforced regulation. There should be no sector of the economy which can negatively affect everyone's financial well-being that is not completely transparent. Default swaps, bundled securities, reporting agency verification guidelines, executive compensation, etc. all should be strictly and completely transparent.