by Calculated Risk on 12/11/2008 10:42:00 PM
Thursday, December 11, 2008
The Madoff Complaint
This is pretty amazing (from the WSJ).
Here are the two key sections (plus Madoff apparently admitted everything to the FBI):
Click on text for larger image in new window.
This section suggests Madoff only had a few clients (probably 10 to 25 hedge funds).
And this section suggests those hedge funds lost just about everything.
This sounds like a few hedge funds will take some serious write downs soon.