Arthur Nadel: I've gone stark raving Madoff


Flying the coop is generally a sign someone was a crook of some sort, even if there were no regulators there to see it.

Florida man suspected of running Ponzi scheme - Business - MiamiHerald.com
Around the same time he mysteriously vanished, hedge fund manager Arthur G. Nadel owed a $50 million payout to some of the investors who had entrusted their life savings to him, an accountant said Monday.

Instead, they learned their money was gone -- and now they're left asking if it was all a bad investment, or if they were scammed.

The search for Nadel entered its sixth day Monday as more investors contacted authorities with concerns their savings, and Nadel, were gone forever. Nadel's green Subaru was found in a Sarasota airport parking lot on Jan. 15, and he left his family a note in which he appeared to be ''very distraught,'' said Lt. Chuck Lesaltato of the Sarasota County Sheriff's office.

Since being a criminal and being a hedge fund manager are somehow NOT the same thing, legally, I guess Nadal, Madoff, and the like, are helping us all by maybe, just maybe, giving government an idea that hedge funds, and hands-off ideals about financial services are a bad idea. This attitude was virtually UNIVERSAL in Congress (both GOP and Dem) and, seeing that the GREED factor attracts many people to fishing for other people's money for a living, for starters, it is the most obvious mistake in governing since Ebonics was being considered as a subject of educational instruction in our schools.


- jR

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