It seems to me rather likely that J. Ezra was just doing what most of us do when it comes to investing in the market: figure it must be safe, because otherwise we'd have heard of it. I've never checked out the auditors of any of the firms in the indices I buy, because I figure that someone else has. Probably, J. Ezra thought the same thing about Bernie Madoff. Thus do frauds inflate to really amazing proportions. [Emphasis added]To sum up, Megan's failure to do the kind of research you'd expect a supposed business and finance journalist to do, even when it comes to her own money, excuses laziness or incompetence by someone trusted to manage billions of dollars of other people's money. And it's just beyond the pale to even contemplate the idea he was corrupt.
Good grief.
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1 comment:
Megan:
Why, then, should an investor be any angrier at him than they are at themselves?
vs. Megan:
None of this matters to the question of the lawsuits, exactly; clearly Merkin deserves to lose everything he has, and will.
With only 2 sentences between.
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