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Originally Posted by packerbacker7964
People where in the Sam Hell are the regulators of these funds? Where's the audit's? I mean no one checks up on these Billion $$$ funds? Lot's of banks in England are going dwon in a blaze of glory over this also. What a way to get money outside of the USA to invest now after this fisaco.
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The tip off should have been the accounting firm that signed off on the books was a one room operation that could never had the staffing to handle an account of that size and scope. The SEC blew it. But foreign investors wont hesitate to invest in the US because of this. People with money are desperate to find any place where they wont continue to lose. Our economy is bad but overseas there are much worse.