Wednesday, March 11, 2009


If Bernie started to promise people 40%+ returns, it must have happened toward the end when he desperately needed money and the markets were generating 20%+ returns for a couple of years. If this is true, he was speeding towards his demise at the end.

A 40% return doubles the principle in TWO years! Even for Bernie it was going to be impossible to bring in enough new money if some of it was supposed to double in two years. This further explains the enormous level of false profits in the size of the fraud.

It should be interesting to see what the prosecutors and the trustee have uncovered to explain all that happened over the past years.

Cheers, Mike

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