The Mental Militia Forums

Please login or register.

Login with username, password and session length
Pages: [1]   Go Down

Author Topic: Hedge fund body wants help for Madoff victims  (Read 1062 times)

canadian

  • Full Member
  • ***
  • Offline Offline
  • Posts: 545
Hedge fund body wants help for Madoff victims
« on: December 15, 2008, 01:26:24 pm »

Here's an excerpt from an article on Reuters:

Quote
Hedge fund body wants help for Madoff victims

LONDON, Dec 15 (Reuters) - Hedge fund trade association the Alternative Investment Management Association (Aima) called on Monday for restitution for investors caught out by an alleged $50 billion fraud at New York hedge fund firm Madoff Securities.

"Clearly, lessons must be learned, restitution must be secured for investors, and processes/safeguards must be improved to prevent such a situation recurring," said a spokesman for the association, which is based in London but has 1,280 members worldwide.

A growing list of the world's big banks and financial institutions including Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz), France's Natixis and Japan's Nomura (8604.T: Quote, Profile, Research, Stock Buzz) have been lining up to acknowledge multimillion dollar exposure to Madoff funds.

I think I'm going to be physically ill.
Logged
Istum enim est bellum quibus necessarium, et pia arma ubi nulla nisi armis spes est.

sharp_shepherd

  • Guardian Of The Constitution
  • Full Member
  • ***
  • Offline Offline
  • Posts: 829
  • Join us on the road to a new "old" America.
Re: Hedge fund body wants help for Madoff victims
« Reply #1 on: December 15, 2008, 03:24:02 pm »

Why not, it's only $50 Billion with many of them non US ciitizens who can use some money.  I think it's a much more worthwhile cause compared to $14 Billion for 2 of our automakers.
Logged
Guardian Of The Constitution
Three Percenter
LDS Member
I love my wife, kids and family.

Junker

  • Guest
Re: Hedge fund body wants help for Madoff victims
« Reply #2 on: December 15, 2008, 07:02:19 pm »

Hedge fund trade association? I wonder what the Hedge Fund Investors Association recommends...maybe paybacks
including expected gains?
Logged
Pages: [1]   Go Up