BERNARD MADOFF

I really did not get that surprised with the expectation this man had on his judgment day, right in New York City.

He is really worth it. He has the honour to be the most important robber in World´s history.

BM is the proof of how greedy we are !!!… While he returned a 20% return on investment to his customers, nobody asked. Nobody realised it was impossible such a sustained return along so many years.

The markets going down, and I continue receiving from my “advisor” BM a 20% annual profit.

I can imagine the conversations among the rich people spread all over the golf fields along the US:
” Are you losing money ???… Come on Clark, let me tell you the person you must trust within your investments. Call this guy, his name is Bernard Madoff.

But, is he a trustwirthy person ???…- Of course, I have been his customer for 10 years, and he is a money making machine… “”

Even, along the hollywood studios, I can also imagine Steven Spielberg talking to his crew during a film shooting break, teling them how fortunate he was to find Mr Madoff advisory and management services. Steven would have been saying something like this:
” I do not know how he gets it,… he is a really smart investor and he has a good team behind… very professional. He has many customers and a long career in Wall Street. Very respected, very shy, he does not like the spotlight, like Buffet or Soros… He is a great person !!! ” .

This is the world of CAPITALISM. The world that cannot fall because it is intrinsic to the human being condition. ” If I can play golf with Bill Gates, why do I have to keep on living under the poverty doorway ???

I already told in a previous article that today, you do not need a long stock covering your face and robbing a 7-ELEVEN night shop to be a robber … You only need a fancy suit and the promise of a high return on investmets. People will believe you and trust you if during some months you give them their profit money. They will never ask you how you get it.

It is incredible how we forget history.

Almost 20 years ago, Soros already played with HEDGE FUNDS located in TAX HAVENS. In fact, this was the source of his astonishing fortune.

Almost some time ago, we woke up with the ENRON scandal. The audit world crunched, but the only impact was to change the ARTHUR ANDERSEN brand to DELOITTE. The auditors continued being the same !!!

Almost 12 years ago, NICK LEESON, a young trader, bankrupted BARINGS BANK, playing with leveraged instruments in Singapore.

Now, politicians meet again during G-20 last week, and launch the following statement to the world:

” The lack of regulation, as well as, the hedge funds or the bank secrecy have been the main cause of this historic crisis, we are going to fight against them seriously”.

Come on !!!… 20 years ago, we already knew that. Ask Mr SOROS about it.

I do not know if Mr MADOFF will spend the rest of his days in jail. But, for sure, he will write a book, someone will make a biopic movie ( I would like this movie project to be conducted by Steven Spielberg… maybe with the box-office he could regain the money he lost… ) , and obviously, Mr MADOFF case will be studied in Wharton and Harvard.

But, I am also sure, that in the next 15 years, another MADOFF will arise, and nobody will remember the original one.

You will see…

Jose Luis Revilla Escudero
President
WWShares, Inc