Where do you stash $65 billion? | Blogads

Where do you stash $65 billion?

by henrycopeland
Thursday, March 12th, 2009

Madoff “lost” or “stole” $65 billion. That’s the headline of the day.

How is that possible when Madoff hasn’t even been trading for at least 15 years?

More likely Madoff “redistributed” $65 billion in the form of dividends and cash distibutions to investors.

Or, the bulk of the $65 billion is bogus paper profits. But you can’t really lose money that never really existed, right? (If I wrote you a check for $5 million and it bounced, would we say you’d “lost” $5 million?)

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