23-12-2008, 11:26 AM
I'm not sure I buy into that false guilty plea angle. The argument that big banks like Santander, HSBC, Nomura, Royal Jock, Natixis, Man, Fortis and many, many others wouldn't have allowed investments to be made in Madoff's fund because the credit risk committee would've picked up how shaky (and crooked) Madoff actually was, doesn't entirely hold water.
There is history to the contrary. Greed makes for wild decisions. For example, the whole of Wall Street - both as institutions and individually as board members - not to mention nations like Italy - and God alone knows how many Swiss banks and others around the world all piled into Long Term Capital Management with eyes wide open and mouths drooling.
LTCM was headquartered in Greenwich, Connecticut.
Besides that it is shaping up stragely, because investors dating back years may be required to hand back their profits. Some, who pulled out of Madoff's fund prior to it going down the tube may even have to return their principal and profits (http://www.bloomberg.com/apps/news?pid=2...kFmYaaw5sY)
There is also the interesting angle that another entity, Fairfield Greenwich Group may have been fraudulently involved by profiting from introducing funds into Madoff's fund (see: http://www.nytimes.com/2008/12/22/busine...ld.html?hp).
It seems that Fairfield Greenwich Group is headquartered in Greenwich, Connecticut too.
There is history to the contrary. Greed makes for wild decisions. For example, the whole of Wall Street - both as institutions and individually as board members - not to mention nations like Italy - and God alone knows how many Swiss banks and others around the world all piled into Long Term Capital Management with eyes wide open and mouths drooling.
LTCM was headquartered in Greenwich, Connecticut.
Besides that it is shaping up stragely, because investors dating back years may be required to hand back their profits. Some, who pulled out of Madoff's fund prior to it going down the tube may even have to return their principal and profits (http://www.bloomberg.com/apps/news?pid=2...kFmYaaw5sY)
There is also the interesting angle that another entity, Fairfield Greenwich Group may have been fraudulently involved by profiting from introducing funds into Madoff's fund (see: http://www.nytimes.com/2008/12/22/busine...ld.html?hp).
It seems that Fairfield Greenwich Group is headquartered in Greenwich, Connecticut too.
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14