liquidités

21:48 Mar 12, 2012 

Thanks for the comments.

01:34 Mar 6, 2012 

Essentially, they are *all* Madoff. XXX was one of his seven feeder funds. YYY was his main fund. ZZZ was Madoff's (closely held) firm, which ostensibly managed the feeders, acted as custodian for the main fund, and pretended to invest the cash in stocks and such. But the last step was entirely fictional. The cash went out to pay fat returns to the suckers who got into the Ponzi scheme early, and plenty of it went into the pockets of Bernie, his family and his co-conspirators.


Or at least this is my guess. Seems to me the Brigade is being unduly technical about the 'instruments' in which the funds were 'invested'. If all the funds had to show for where their investors' money went were cash balances at Bernie's firm, it's a stretch to use the word 'invested' at all.

23:42 Mar 5, 2012 

Yes, some companies purported to invest customer funds instead passed them on to the Madoff machine, so the funds went no further than Madoff's (as I understand it) liquidités. Does that sound right? ;-)

(IMO, if Madoff is XXX or YYY or ZZZ, it would have helped us enormously to have known that... and probably without risking any harm to his reputation.)

23:24 Mar 5, 2012 

If it helps at all, the text pertains to the Bernie Madoff scandal. Sorry for the delayed reply.