....that instilled the incredible confidence from sophisticated investors (a new oxymoron). The Madoff story has circled the globe and there are to now loss claims summing to $24B, including several European banks and a list of who's who. The general sense in circulation is greedy folk with little to no due diligence. Beyond reproach comes to mind. Naysayers or people of inquisitive minds were either not allowed into the exclusive club or were released. The unwinding of this story will be fascinating, but not for those that have trusted this man. And what does this do to the world of trust in general? Who can we trust? Who should we trust? The global financial system is currently clinging to life support, with little trust left, and then Bernie grows a conscience. Are there others? Are there others we shouldn't and can't trust?
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