tag:blogger.com,1999:blog-18079728.post593631682785931675..comments2023-11-02T07:30:03.967-07:00Comments on Cassandra Does Tokyo: And The Largest Fraudulent Conveyance Recipient Is..."Cassandra"http://www.blogger.com/profile/17412381249313151515noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-18079728.post-60969415676409665432009-01-16T22:08:00.000-08:002009-01-16T22:08:00.000-08:00W.T.F.? Why are you silly folks worried about thi...W.T.F.? Why are you silly folks worried about this esoteric, tax, fiscal issue. The Gov't will just appeal to a higher power [ed] entity .... and get a bailout. Moral Hazard be DAMNED. Sorry, could not resist ... especially after reading Cheney and Lehrer ... and asking over and over ... "our" leadership here in America boils down to ......Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-25952362048778794672009-01-16T01:07:00.000-08:002009-01-16T01:07:00.000-08:00"If it was so obvious how come smart (or at least ..."If it was so obvious how come smart (or at least rich) people continued to put lots of real money at risk with Madoff until the very end?" <BR/><BR/>Have any of you ever followed the OTC or Pinks? They are still governed by SEC law, but I can name 10 OBVIOUS, BLATANT scams operating right now. Dozens of SEC complaints filed by hundreds of people EVERY DAY for 2 years that I've been following,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-22715111140876075362009-01-04T17:27:00.000-08:002009-01-04T17:27:00.000-08:00http://nakedshorts.typepad.com/files/madoff.pdfhttp://nakedshorts.typepad.com/files/madoff.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-71454375837543515952009-01-02T18:38:00.000-08:002009-01-02T18:38:00.000-08:00"If it was so obvious how come smart (or at least ..."If it was so obvious how come smart (or at least rich) people continued to put lots of real money at risk with Madoff until the very end?"<BR/><BR/>The question is not whether it was obvious to a random man on the street whether Madoff was defrauding investors or brokerage clients. Or whether a lazy investor who performs zero diligence -- other than confirming Madoff had an open face and nice Unknownhttps://www.blogger.com/profile/09646688550934916504noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-50725638899992383802009-01-02T17:48:00.000-08:002009-01-02T17:48:00.000-08:00If it was so obvious how come smart (or at least r...If it was so obvious how come smart (or at least rich) people continued to put lots of real money at risk with Madoff until the very end?Circlehttps://www.blogger.com/profile/04057787276188714245noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-47396055782830193552009-01-02T17:30:00.000-08:002009-01-02T17:30:00.000-08:00"Re statute of limitations, the clock usually does..."Re statute of limitations, the clock usually doesn't begin ticking until the potential plaintiff knows (or should have known) he has a claim."<BR/><BR/>Like I said before, after the 2001 Barrons article criticizing Madoff, why wouldn't a reasonable person have been put on notice that Madoff was likely making money by fraud, either fraud against his investors or fraud against his brokerage Unknownhttps://www.blogger.com/profile/09646688550934916504noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-12359788322550632122009-01-02T15:42:00.000-08:002009-01-02T15:42:00.000-08:00Re statute of limitations, the clock usually doesn...Re statute of limitations, the clock usually doesn't begin ticking until the potential plaintiff knows (or should have known) he has a claim. As a practical matter, if the Madoff scheme has been slowly building over 15 years, clearly it is going to be nearly impossible to unscramble the whole thing now.Circlehttps://www.blogger.com/profile/04057787276188714245noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-28429057782940255192009-01-02T05:02:00.000-08:002009-01-02T05:02:00.000-08:00"Whether those who get out early in a Ponzi scheme..."Whether those who get out early in a Ponzi scheme are obligated to cough up their money is an interesting and still unresolved legal question."<BR/><BR/>Given the various badges of fraud, and popular press skeptical of Madoff like the 2001 article on madoff, why wouldn't the statute of limitations kill claims against investors who pulled money more than 4 years ago (or after whatever number of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-82046377454551996342009-01-02T04:38:00.000-08:002009-01-02T04:38:00.000-08:00Whether those who get out early in a Ponzi scheme ...Whether those who get out early in a Ponzi scheme are obligated to cough up their money is an interesting and still unresolved legal question. In principle it seems to me that the "winners" and losers should be made as whole as possible. It would be outrageous <BR/>if the Feds made off with taxes paid on gains by the "winners". See the attached link re fraudulent conveyance liability of "Circlehttps://www.blogger.com/profile/04057787276188714245noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-1977350177355864942009-01-02T01:51:00.000-08:002009-01-02T01:51:00.000-08:00Happy New year Cassandra. This is my favourite mu...Happy New year Cassandra. This is my favourite must read blog.<BR/>For some reason couldn't post a comment for the last week or so of 2008.Manc Traderhttps://www.blogger.com/profile/15419060899207287530noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-45251982555351206812009-01-01T15:26:00.000-08:002009-01-01T15:26:00.000-08:00C,One other point, assuming investors can rapidly ...C,<BR/><BR/>One other point, assuming investors can rapidly utilize "theft" losses to Madoff by deducting them against ordinary income, the tax receipts to the US fisc are merely an interest free loan to the government. Not a permanent gift to Uncle Sam.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-56432032908817009032009-01-01T15:17:00.000-08:002009-01-01T15:17:00.000-08:00C,Not sure investors need to worry about carrying ...C,<BR/><BR/>Not sure investors need to worry about carrying forward losses. Arguably, the losses are due to "theft", and "theft" losses can potentially offset ordinary income. If an investor owns a substantial business through an entity that is transparent for tax purposes, or an investor rotates most of their portfolio into debt producing interest income, they may well be able to soak up "Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18079728.post-48315852980919253802009-01-01T15:05:00.000-08:002009-01-01T15:05:00.000-08:00Its easy enough to amend past tax returns. In case...Its easy enough to amend past tax returns. <BR/><BR/>In cases of fraud such as this, there may be a proactive approach taken by the IRS in terms of issuing guidelines . . .Ritholtzhttps://www.blogger.com/profile/08608448405502237269noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-82893557682439315942009-01-01T07:48:00.000-08:002009-01-01T07:48:00.000-08:00I am wondering, in the spirit of the Wells Fargo r...I am wondering, in the spirit of the Wells Fargo ruling<BR/>by treasury re Wachovia losses, whether a marriage to<BR/> a B.M. victim would allow the marrior to offset his/her<BR/>capital gains against the losses of the marryee. Not that there's anything WRONG with that.Anonymousnoreply@blogger.com