it;s somewhat liek the Madoff situation; probably a lot of “investors” knew there was something slightly fishy but were happy to make the returns and figured they were in early enough or famous enough to be taken care of. And some probably thought it was a real enterprise. The SEC should ahve regulated Madoff out of business and intojail years ago, but they didn’t. That doesn’t mean that the investors who suspected fraud are completely guilty ro completely innocent. In general, whenerv something involves lots of money in America (or anywhere), I think it’s pretty safe to assume that thre’s a healthy does of b.s. at the bottom of it. I agree with THEBREEZE, if fraud were known to the madoff investors or the housng specuvestors, there would be no clamoring for the protection fo the laws as there is after the loss, but he main thought would be, “How do i get out the exit before the other suckers”? I’m not judging paramount i don’t think, and i think one shoudl do whatever maximizes profit in a post housing bubble, but ont he other hand, it’s difficult to take seriously a dude’s claim that he wants the “protection of the laws” … when he wouldnt have wanted them on the incredible trip up. If you play the game, and the game looks Madoff-funky, then, youis on your own..
