Madoff With Hedge Funds' Money
By ALEN MATTICH A DOW JONES NEWSWIRES COLUMN LONDON -- ....According to press and blog reports, the SEC never investigated Bernie Madoff, never even put him through routine checks, because, well, he was too cuddly. And too well respected by his peers. OK, not quite never, back in 1992 they had a sniff about suspicious goings on in an unregistered Florida trading scheme, which they traced back to Madoff. But none of the accusations stuck and Madoff was left to make off with investors' money, unhindered forever after. Made all the more invulnerable by his status as a Wall Street institution. Because if Bernie Madoff, ex-chairman of Nasdaq, boss of one of its biggest market makers and manager of the most solid, long lived and steadily performing of all hedge funds wasn't purer than Caeser's wife then who was? Who indeed? 'This is how reputation and track record can blind people into complacency. - Redbean'