Parsad Posted August 25, 2009 Share Posted August 25, 2009 A bank fraud charge for one guy, and near the end of the article another ponzi scheme that was caught back in May. Geez! Cheers! http://www.bloomberg.com/apps/news?pid=20601087&sid=aRJzVy_8GrIM Link to comment Share on other sites More sharing options...
WideMoat Posted August 25, 2009 Share Posted August 25, 2009 And the bezzle continues to shrink... http://market-ticker.denninger.net/archives/857-The-Bezzle-Defined.html Link to comment Share on other sites More sharing options...
mpauls Posted August 25, 2009 Share Posted August 25, 2009 The bulk of people controlling capital allocations are damn fools. Due Diligence is a catch phrase. It's the quality of the person's knowledge that's important when evaluating situations (or money managers) not the consensus, "best practice" procedures. Link to comment Share on other sites More sharing options...
bookie71 Posted August 25, 2009 Share Posted August 25, 2009 Due diligence to most of these characters means, "See which product has the best commission." Link to comment Share on other sites More sharing options...
returnonmycapital Posted August 26, 2009 Share Posted August 26, 2009 Mpauls, absolutely. Unfortunately, the regulators, as much as I feel for them, do not dare institute "spirit"-based rules. Instead, relying on "to the letter"-rules which make us all sound like we are out to make money off of investors instead of for them, or even better, with them. Link to comment Share on other sites More sharing options...
SharperDingaan Posted August 26, 2009 Share Posted August 26, 2009 Keep in mind that the worst deal in the world will still get done, provided the fees are high enough. Then add to it that there is no such thing as a bad deal - just a bad price. There is a reason why you do your own DD. SD Link to comment Share on other sites More sharing options...
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