Wednesday, March 11, 2009
Pure Genious
The theory that a 70-year old man was single-handedly preparing, on a monthly basis, thousands of fake customer reports, detailing countless fictional trades that were actually adding up and could stand up to the scrutiny of their receipients (including all major international banks) seemed entirely plausible to all of us from day 1. Nonetheless, it appears now that US prosecutors are having second thoughts and are entertaining the idea that some of the Fund's employees might have actually participated in the fraud! We are left wondering what or who could have possibly tipped them off...
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“The issue will be whether the government can establish that they knew what in the paper was in fact phony,”
Ha ha. This is the equivalent of the blank in the firing squad. You mixin a few legit trades and so you can claim that you did not know what was phony and what not.
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