Comments on: Making a Difference – YES! http://www.skepticblog.org/2009/10/24/making-a-difference/ The official blog of the Skeptologists Sat, 11 Feb 2012 21:38:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Susan Gerbic http://www.skepticblog.org/2009/10/24/making-a-difference/#comment-14410 Susan Gerbic Tue, 27 Oct 2009 18:21:54 +0000 http://skepticblog.org/?p=4829#comment-14410 ROBERT LANCASTER! ROBERT LANCASTER!

]]> By: Robert Lancaster http://www.skepticblog.org/2009/10/24/making-a-difference/#comment-14407 Robert Lancaster Tue, 27 Oct 2009 14:20:51 +0000 http://skepticblog.org/?p=4829#comment-14407 By the way, the erstwhile gsylviabrowne.com was not hosted by the girlfriend of Sylvia's son Christopher Dufresne, but by the then-girlfriend, now-wife of her other son whose name elludes me at the moment. By the way, the erstwhile gsylviabrowne.com was not hosted by the girlfriend of Sylvia’s son Christopher Dufresne, but by the then-girlfriend, now-wife of her other son whose name elludes me at the moment.

]]> By: Robert Lancaster http://www.skepticblog.org/2009/10/24/making-a-difference/#comment-14405 Robert Lancaster Tue, 27 Oct 2009 14:16:35 +0000 http://skepticblog.org/?p=4829#comment-14405 Thanks for the mention! Best, rsl Thanks for the mention!

Best,

rsl

]]> By: AUJT http://www.skepticblog.org/2009/10/24/making-a-difference/#comment-14377 AUJT Sun, 25 Oct 2009 21:20:46 +0000 http://skepticblog.org/?p=4829#comment-14377 FO:10/25/2009ConfirmIceberg+ATL11/14/09-flt1148@1333hrsHammerTransitionCompleteExpected11/10/09KrowbarstopreadFO FO:10/25/2009ConfirmIceberg+ATL11/14/09-flt1148@1333hrsHammerTransitionCompleteExpected11/10/09KrowbarstopreadFO

]]> By: tudza http://www.skepticblog.org/2009/10/24/making-a-difference/#comment-14372 tudza Sun, 25 Oct 2009 05:50:05 +0000 http://skepticblog.org/?p=4829#comment-14372 You mention the Madoff situation. One thing that bothered me is that the news kept throwing around the figure $65 billion lost, but never answered my follow up question about whether that was money in or money promised. That is, if you give me $1 and I promise to deliver $20 but never do, did you lose a dollar or twenty dollars? Really, you are only out $1, or actually that plus what you might have made investing with an honest fund. Finally an article comes up and tells me what I want to know. It turns out that the $65 billion figure is the amount of promised payout. You might think that is good news, but the actual amount of money put into Madoff "investments" is still around $13 billion. As to where it went, the article's main point was that a crew of forensic accounts are coming to the conclusion that we might never be able to account for all of it. On the one hand that makes sense, because why would a crook keep track of his ill gotten gains, but on the other hand it does not because you would think such a con would require reasonably accurate bookkeeping. How are you going to know who to pay first and when and thus maximize your take on the scam if you don't keep good records? You mention the Madoff situation. One thing that bothered me is that the news kept throwing around the figure $65 billion lost, but never answered my follow up question about whether that was money in or money promised. That is, if you give me $1 and I promise to deliver $20 but never do, did you lose a dollar or twenty dollars? Really, you are only out $1, or actually that plus what you might have made investing with an honest fund.

Finally an article comes up and tells me what I want to know. It turns out that the $65 billion figure is the amount of promised payout. You might think that is good news, but the actual amount of money put into Madoff “investments” is still around $13 billion.

As to where it went, the article’s main point was that a crew of forensic accounts are coming to the conclusion that we might never be able to account for all of it. On the one hand that makes sense, because why would a crook keep track of his ill gotten gains, but on the other hand it does not because you would think such a con would require reasonably accurate bookkeeping. How are you going to know who to pay first and when and thus maximize your take on the scam if you don’t keep good records?

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