The latest financial fraud

Parent Cafe
1

<p>This one is “only” $500mm. Investors included Carnegie Mellon and University of Pittsburgh.

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<p>This has been going on for more than ten years. Don’t the university finance people perform ANY due diligence? Or do they just collect a salary for writing checks to money managers? </p>

<p><a href=“http://www.reuters.com/article/newsOne/idUSTRE51O6M620090226?pageNumber=1&virtualBrandChannel=0[/url]”>http://www.reuters.com/article/newsOne/idUSTRE51O6M620090226?pageNumber=1&virtualBrandChannel=0&lt;/a&gt;&lt;/p&gt;

2

<p>I don’t get it. Sniff, sniff. I was diversified. I divided my money into seven parts and put one part each into Enron, WorldCom, Lehman Bros., Washington Mutual, Royal Bank of Scotland, Bernie Madoff, and these guys. Where did I go wrong???</p>

<p>Oh, and what is due diligence?</p>

3

<p>It is really amazing to me. How did these guys sell themselves to all these deep pockets? These stories of the promised performance by secret special investment strategies always made me gag. My H always said to me “you went to business school, why can’t you come up with a good strategy”. At least I feel a little less dumb. The special strategies are straight out of the federal penitentiaries.</p>

4

<p>I’ve come to the conclusions that the majority of our political and business leaders are nothing more than dangerous empty suits. Sociopaths whose personalities are typified by large egos, insatiable greed, a strong sense of entitlement, lacking the ability to fell empathy for others and a very real talent for persuasion by using lies and intimidation. </p>

<p>[url=<a href=“http://www.mcafee.cc/Bin/sb.html]Sociopath[/url”>Profile of the Sociopath]Sociopath[/url</a>]</p>