Skip to main content

Madoff - another list

Reuters have produced another list of losers from Madoff. What is interesting is the large exposure from banks who lent money to Hedge Funds to invest with Madoff.

Some reports indicate that he started to go wrong in 2005. It strikes me as unlikely that $50bn of losses could build up in such a short period.

Still this has quite a bit of unravelling to do.


Popular posts from this blog

Standards Board and Ken Livingstone

The link is to the case where Ken Livingstone appealed the decision of the Adjudication Panel for England. The Standards Board and associated Adjudication Panel have done a lot of damage to democracy in the UK. The courts are, however, bringing them into more sanity. The point about Ken Livingstone's case is that it was high profile and he also could afford to appeal. The Standard Board has a problem in that those subject to its enquiries face substantial costs that they cannot claim back. This is an issue that needs further work. In essence the Judge found that what he said brought him into disrepute, but not the office of Mayor. We do need the machinery of the SBE and APE to concentrate on things that matter rather than people being rude to each other.