Monday, March 30, 2009

"Bernie Madoff is to Larry Salander what AIG's losses are to your personal 401(k)" (UPDATED 2X)

Ed Winkleman: Three Grumpy Thoughts on the Salander Case.

UPDATE: Bruce Watson: "The greatest strength in Salander's scheme lay in its simplicity. Unlike Bernie Madoff, who had to continually find fresh money to replenish his business, Salander merely had to keep investors from discovering each other."

UPDATE 2: Paddy Johnson agrees with Ed that "the comparison of Salander to Madoff is sensationalistic and premature."