{"id":2216,"date":"2008-12-15T16:20:47","date_gmt":"2008-12-15T15:20:47","guid":{"rendered":"https:\/\/english.martinvarsavsky.net\/?p=2216"},"modified":"2008-12-15T18:40:18","modified_gmt":"2008-12-15T17:40:18","slug":"financial-companies-who-made-money-selling-madoff-products-should-return-their-commissions","status":"publish","type":"post","link":"https:\/\/english.martinvarsavsky.net\/?p=2216","title":{"rendered":"Financial companies who made money selling Madoff products should return their commissions"},"content":{"rendered":"<p>I can accept that Santander was a victim of Madoff, and so was Fairfield, and so were thousands of others all adding up supposedly to $50bn.   But what Santander has to do, what Fairfield has to do and what all other financial institutions who made a lot of fees and commissions from selling Madoff products is to return these fees to their customers.  Even if these fees cut the losses from 100% to 98% it will mean a lot to those who lost everything.  Moreover while I accept that those who were selling Madoff products were victims they are also negligent in the sense that they did not really do a good due dilligence on Madoff\u00b4s operations as others did.<\/p>\n<div style=\"width:477px;text-align:left\" id=\"__ss_841968\"><a style=\"font:14px Helvetica,Arial,Sans-serif;display:block;margin:12px 0 3px 0;text-decoration:underline;\" href=\"http:\/\/www.slideshare.net\/hblodget\/how-we-knew-bernie-madoff-was-a-fraud-presentation?type=document\" title=\"How We Knew Bernie Madoff Was A Fraud\">How We Knew Bernie Madoff Was A Fraud<\/a><object style=\"margin:0px\" width=\"477\" height=\"510\"><param name=\"movie\" value=\"http:\/\/static.slideshare.net\/swf\/ssplayerd.swf?doc=madoff-1229127109242916-1&#038;stripped_title=how-we-knew-bernie-madoff-was-a-fraud-presentation\" \/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><embed src=\"http:\/\/static.slideshare.net\/swf\/ssplayerd.swf?doc=madoff-1229127109242916-1&#038;stripped_title=how-we-knew-bernie-madoff-was-a-fraud-presentation\" type=\"application\/x-shockwave-flash\" allowscriptaccess=\"always\" allowfullscreen=\"true\" width=\"477\" height=\"510\"><\/embed><\/object><\/p>\n<div style=\"font-size:11px;font-family:tahoma,arial;height:26px;padding-top:2px;\">View SlideShare <a style=\"text-decoration:underline;\" href=\"http:\/\/www.slideshare.net\/hblodget\/how-we-knew-bernie-madoff-was-a-fraud-presentation?type=document\" title=\"View How We Knew Bernie Madoff Was A Fraud on SlideShare\">document<\/a> or <a style=\"text-decoration:underline;\" href=\"http:\/\/www.slideshare.net\/upload?type=document\">Upload<\/a> your own. (tags: <a style=\"text-decoration:underline;\" href=\"http:\/\/slideshare.net\/tag\/madoff\">madoff<\/a>)<\/div>\n<\/div>\n<p>Here\u00b4s Emilio Bot\u00edn, considered by many the world\u00b4s smartest banker explaining in broken English how if you don\u00b4t understand an instrument you should not sell it or buy it.<\/p>\n<p><object width=\"425\" height=\"344\"><param name=\"movie\" value=\"http:\/\/www.youtube.com\/v\/jaLDoWqIq2M&#038;hl=en&#038;fs=1\"><\/param><param name=\"allowFullScreen\" value=\"true\"><\/param><param name=\"allowscriptaccess\" value=\"always\"><\/param><embed src=\"http:\/\/www.youtube.com\/v\/jaLDoWqIq2M&#038;hl=en&#038;fs=1\" type=\"application\/x-shockwave-flash\" allowscriptaccess=\"always\" allowfullscreen=\"true\" width=\"425\" height=\"344\"><\/embed><\/object><\/p>\n<div id=\"mainphotoarea\"><\/div><div class=\"theme-buttons\"><div class=\"fb-like\" data-href=\"https:\/\/english.martinvarsavsky.net\/?p=2216\" data-send=\"false\" data-layout=\"box_count\" data-width=\"71\" data-show-faces=\"false\" data-font=\"arial\" data-locale=\"en_US\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>I can accept that Santander was a victim of Madoff, and so was Fairfield, and so were thousands of others all adding up supposedly to $50bn. But what Santander has to do, what Fairfield has to do and what all other financial institutions who made a lot of fees and commissions from selling Madoff products [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=\/wp\/v2\/posts\/2216"}],"collection":[{"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2216"}],"version-history":[{"count":0,"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=\/wp\/v2\/posts\/2216\/revisions"}],"wp:attachment":[{"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.martinvarsavsky.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}