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Reply to "Freaked out by watching American Greed? Financial advisors- chime in here if you can!"
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[quote=Anonymous]Well, in the abovve case, all investors did NOT hand their money to strangers but rather to their trusted brokers. The brokers were taken in, in this case, but remember this guy was by that time established and trusted. Its just that he should not have been. Also noone was getting richer quicker. The whole idea of the CD's was to keep them for the duration. The addtitional point was a claimed average. Im looking for advice of a more sophisticated type of scam where there arent obvious red flags. Madoff fooled a lot of people, and so did this guy.[/quote]
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