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Madoff is the one who said his operation was " basically, a giant Ponzi scheme,”
Dec 29 06:26 am
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All Comments by David Paul »Where Is Madoff's $50 Billion? [View article]
Why take him, of all people, at his word?
Certainly the ending was a Ponzi ending but was it always "bascially" a Ponzi? No front running? No money laundering? No who-knows-what else?
Seems unlikely.