http://mindyourowndamnbusinesspolitics.com/wordpress/2009/06/30/for-future-madoffs-regulations-provide-props-for-scammers/?utm_source=rss&utm_medium=rss&utm_campaign=for-future-madoffs-regulations-provide-props-for-scammers Wed, 16 Mar 2011 17:23:38 +0000 hourly 1 http://wordpress.org/?v= http://mindyourowndamnbusinesspolitics.com/wordpress/2009/06/30/for-future-madoffs-regulations-provide-props-for-scammers/comment-page-1/#comment-644 Lynn Wed, 01 Jul 2009 12:26:29 +0000 http://mindyourowndamnbusinesspolitics.com/wordpress/?p=887#comment-644 The one principle still applies. If it seems too good to be true, it is! The one principle still applies. If it seems too good to be true, it is!

]]> http://mindyourowndamnbusinesspolitics.com/wordpress/2009/06/30/for-future-madoffs-regulations-provide-props-for-scammers/comment-page-1/#comment-638 Anonymous Wed, 01 Jul 2009 01:00:18 +0000 http://mindyourowndamnbusinesspolitics.com/wordpress/?p=887#comment-638 If someone deposits their savings in a bank, they don't expect the teller to run off with it and be told that they should have done their due diligence. Why should investment advisers and money managers, hiding behind unregulated securities, be able to get away with cons and theft while it's all the investor's fault? Anyone allowed to take in investor deposits should not be allowed to actually touch the money and third parties passing along funds need to be held accountable for verifying the legitimacy of fund accounts. This black box, behind the curtain money handling should be illegal period. Scams like this happen because money managers have been bribing and paying kick-backs to legislators and regulators. Blaming it all on investors is a guise. If someone deposits their savings in a bank, they don’t expect the teller to run off with it and be told that they should have done their due diligence. Why should investment advisers and money managers, hiding behind unregulated securities, be able to get away with cons and theft while it’s all the investor’s fault? Anyone allowed to take in investor deposits should not be allowed to actually touch the money and third parties passing along funds need to be held accountable for verifying the legitimacy of fund accounts. This black box, behind the curtain money handling should be illegal period. Scams like this happen because money managers have been bribing and paying kick-backs to legislators and regulators. Blaming it all on investors is a guise.

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