Michael S.

The Hedge Fund Business Is Finished and Bernie Madoff Is Sealing the Deal

What a vindictive article. Any seasoned investor would demand transparency or they would stay clear. Many walked away after he could not or refused to say how he achieved his unusually steady returns. If an investor should only be investing in ETF's to avoid "Wall Street Charlatans" then that same investor should NEVER buy anything from the charlatans who sell insurance products. Annuities that do nothing but lock in unsophisticated buyers and pay off huge commissions to crroks dressed in suits. It appears that Mainstay Financial is a firm that sells insurance products and for this guy to call Wall Street a collection of charlatans is akin to the kettle calling the pot black! Not every financial professional is unethical while I have yet to meet an ethical insurance salesman. I will not defend thieves like madoff nor will I have sympathy for the willful idiots that invested with him but I will not accept that his misdeeds have anything in common with me nor many, many other financial professionals that I know and respect. I studied for the insurance license and the sales tactics taught in that class were enough to make a man sick! Caffee -- clean up your own house before you start trying to clean up your neighbor's!!!!