Too good to be true, but not too bad to be true

It seems fair to say that the Madoff affair will come to be seen as a milestone in the development of three very different groups of people: a) the Jewish world in general and the American-Jewish community in particular; b) the money management profession, extending from private and other banks, through to hedge funds and other ‘vehicles’; c) people with money, whether a little (‘savers’), a lot (‘investors’), or a great deal (‘wealthy’).

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