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and it all fell down..

the whole madoff fiasco could not have come at a better time. why u may ask? well for starters we will start to see a lot of parties claiming losses on the grand pyramid scheme - some of these parties already are affected by write downs because of the financial crisis. how he'd been operating for almost 50 years without being detected is truly mind boggling. putting it simply, the guy ran a scheme which pays of his investors with money from new investment. i guess it got too big for its own good and fell from its own weight la.

now for the firms affected, if they lose money because of a failed investment and the downturn in the economy because of the financial crisis, one would say that it is their own fault for a gamble that misfired. but, if one were to come up and say that they were duped along with a host of other reputable names, now they tend to come out of it looking less stupid and guilty.

i dunno. it all feels rather fishy. and somewhat convenient.

anyways, if anything the scandal served to show how flawed the whole monitoring and economic system of the world is. and in this somewhat flawed system, the people of the world is trusting to lift the world from this economic doldrum.

hmm entah ler..
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