Posted 2 years ago on Nov. 17, 2014, 12:44 p.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
Bernie Madoff is the gnat that's been strained from your wine in a public display of due diligence.
Private Equity is the camel that's continuously swallowed without compunction.
"... the SEC's revelation that private equity firms have been engaging in large scale fee-skimming and other forms of grifting ..." - http://www.nakedcapitalism.com/2014/05/sec-official-describes-widespread-lawbreaking-material-weakness-controls-private-equity-industry.html
"... in predictable fashion, as one group of marks, um, sales targets, starts to dry up, private equity funds, aka general partners, are hunting for new ones. And having gone very systematically after every conceivable large pot of money, the only place left for them to go is down market, in terms of size and sophistication. As private equity industry expert Eileen Appelbaum explains in [http://thehill.com/blogs/pundits-blog/finance/224097-private-equity-is-coming-for-your-nest-egg] The Hill, both public and private pension funds, another big money source for private equity, are shrinking as pensions generally are under attack. So the prize for private equity is to get its hands on retail investors, namely, even lower tier wealthy and 401 (k) plans...."
- Yves Smith