tag:blogger.com,1999:blog-10032287.post6473405568916964833..comments2023-09-08T00:47:50.511-07:00Comments on Naked Reflections: Reflections on the Madoff SentenceStevehttp://www.blogger.com/profile/02549770321948541384noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-10032287.post-5002271138429423982009-10-08T10:35:10.500-07:002009-10-08T10:35:10.500-07:00No doubt, I clearly see your point and do agree fr...No doubt, I clearly see your point and do agree from an objective point of view.<br /><br />However, considering how I am as a person, I would of questioned things and wondered had I of been so privileged to be invested with him. Of course, I can totally see not pushing it too far in my mind bc of his outstanding reputation. His name carried much weight, respect and admiration. I do believe that I could've been easily blinded by that, not to mention intimidated, as well.Coonhoundhttps://www.blogger.com/profile/12594498287172121648noreply@blogger.comtag:blogger.com,1999:blog-10032287.post-83698659552100740732009-10-06T00:33:27.896-07:002009-10-06T00:33:27.896-07:00Coonhound, I'm not sure of all the facts of th...Coonhound, I'm not sure of all the facts of this case. I suppose I should look them up. But my understanding is that the rates of return on investments with Madoff were not extraordinarily high. I believe the averaged somewhere around 10%. But what WAS exceptional was the consistency of those rates of return. Nobody else was doing as consistently well as Madoff represented himself as doing. <br /><br />But the thing was, the SEC gave him a pass, in effect certifying him as legitimate. And this helped build his reputation to legendary proportions, <br /><br />So, I don't think people who invested with him had to be exceptionally or recklessly greedy to do it. They believed, with the backing of the SEC and the adulation of him on Wall Street, that Madoff wasn't a swindler but a fabulously successful financial genius who estended to them the profound privilege of being allowed to invest with him.<br /><br />I think the real blame lies on the shoulders of Madoff, his accomplices, the SEC, and anyone else in high places who knew, suspected, or should have known or suspected that something fishy was going on but did nothing about it.Stevehttps://www.blogger.com/profile/02549770321948541384noreply@blogger.comtag:blogger.com,1999:blog-10032287.post-48118312559796746702009-10-05T19:41:35.379-07:002009-10-05T19:41:35.379-07:00Nagarjuna,
I'm not ready to present my "...Nagarjuna,<br /><br />I'm not ready to present my "naked reflections" yet to the points you raise and in the "madoff madness" in general. <br /><br />However, with that being said, I do want to point something out that I found perplexing from the beginning...and I realize my feelings here may be harsh...<br /><br />But how be it that all his "innocent investers" never questioned the fact that their returns were much higher than the average rate of return of comparible funds? <br /><br />I guess people see what they want to see...you know the old saying "don't kick a gift horse in the mouth" or how about "loose lips sink ships".<br /><br />I was just stunned when I had heard what kind of returns those people were getting on their Madoff investments. And I thought...geez, how the heck could they not of questioned it.<br /><br />(Just my thoughts)Coonhoundhttps://www.blogger.com/profile/12594498287172121648noreply@blogger.com