Not Too Big 4 to Fail?

Being unemployed allows me to do lots of reading and thinking. One isn't so dangerous, the other has the potential. Accordingly, I'm going to do some wildly unfounded speculating.

I was speaking to a friend/colleague last Friday whose client is currently being sued for activity related to that guy who Madoff with all the money (I think I owe Paul Provenza for that pun) and wondered what is the end result of all this madness...Is the possibility of a Final Big 4 (FB4) firm failure out there?

My friend's client is certainly not the first (who knows who is) and definitely won't be the last. This clustercluck stretches far and wide. The obvious thought is, who will get to Madoff first? The Russian mob or the Latin American drug cartels? It could be prominent Jews or his own lawyer!

Regardless of what happens to the Master Ponz is somewhat irrelevant. What comes to my mind is that the FB4 could have serious litigation problems on their hands.

When you consider the crooked legitimate clients of the FB4 and their exposure to the funds of Bernard L. Madoff Investment Securities either through feeder funds or direct investments this could end up being one hell of a domino effect.

The parties that lost money (can be searched here) are not pushovers. This will not be taken lightly.

Discuss. Sphere: Related Content