The trouble is that the U.S. government will not go all the way while prosecuting Madoff. Uncle Sam would if there were pension funds involved, but going to bat for some rich white Europeans is not Sam’s habit. Obviously Madoff has hidden assets, perhaps in the billions, and most of his feeder fund managers have money, too. I don’t see any of them wearing striped pyjamas any time soon. Smart lawyers, the best money can buy, will defend them against underpaid government mouthpieces. The leading players so far have maintained a stony silence, making sure to avoid any kind of apology or statement of responsibility. Villehuchet’s suicide is probably seen as a dumb act by the Madoffs, Picciottos, Piedrahitas, Toubs and Noels of this world. It’s going to be an interesting Gstaad season, to say the least.
This blog is no longer active as of October 31, 2011
