The World’s Largest Hedge Fund Is A Fraud

That is the title of a report compiled by Harry Markopolos in 2005 about Bernie Madoff’s fraudulent hedge fund.  He lists 30 red flags and ways for the SEC to verify if these red flags were true.  His report seems to have been almost completely ignored for almost four years.  He states that pretty much everyone knew that Madoff was a fraud, but did not want to risk their careers.  It shows the sad state of Wall Street that I talked about in my post about The Business School Way of Life.  Take the easy money, don’t rock the boat, look the other way, cash your check.