Suckerpunch Madoffian Sales Pitch Revealed
Time magazine gives space to a generously confessional Robert Chew who ruminates about his time since 6 PM December 11 2008 when his wife Sarah learned on the phone that they were wiped out by Bernard 'Ponzi2' Madoff. Mr. Chew put it to the Denver Post: "financial murder".
"We deluded ourselves into thinking we were all smarter than the others. When it came to the investment game, we had it figured. And what was the game anyway? The way it was vaguely described to us was that the "New York people" had a system whereby they placed a series of instant trades — at once with futures, currencies and stocks — and out of this magic recipe fell a tiny 1% guaranteed, no-risk profit for the group. You do that 20 times a year, take away management fees and, voilà, a steady 15% return. Man, these guys were good."