due diligence

What a week and it ended with a bang.

Three words: Dreier and Madoff. And the utter and complete lack of due diligence on the part of the institutions and individuals who were duped by these guys.

The former a blue-chip white-shoe Park Avenue attorney who stole hundreds of millions from HFs. The latter, a well-respected 40+ year veteran of the Street who took HNW individuals and institutions for billions. The fall-out from the escapades of these two crooks will go on for years.

In a much brighter note, the schedule opens up and the final push for the last 19 days of 2008 continue.

Happy weekend.

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