Veil of secrecy: Madoff vs GIC aka Spore Inc

[jesus]

Madoff essentially ran a ponzi scheme. It lasted so long because it was secretive and managed to evade the regulators so that no one knew what went on.

Notice the similarity with our very own GIC and Spore Inc? No transparency, no accountability. No one knew what is going on.

 

[jesus]

Ponzi schemes are exposed when mass redemptions happen, like what is happening now.

However GIC faces no such risks of redemptions.

 

[DerekLeung]

Before you can think of anything. Home team is hiring another 2000 during these bad times !