From the BBC's report on the chap who claims to have run a $50 billion Ponzi scheme:
France's BNP Paribas estimated its exposure to be more than $460m... "While BNP Paribas has no investment of its own in the hedge funds managed by Bernard Madoff Investment Services, it does have risk exposure to these funds through its trading business and collateralised lending to funds of hedge funds," BNP said in a statement.
I'll take that as a yes, basically.
A grim document
9 hours ago
2 comments:
Bernard Madoff - That surname - it cannot be anything but a huge joke can it? Madoff = made off!
I'm afraid that Lex in the FT beat you to it. Even more chucklesome is that Illinois crook called "Blag-o-jewish".
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