Madoff investors ordered to return false profits

You want absurd? I’ll give you absurd. Here!

Investors who don’t return the money could face legal action, the letters said.

Madoff victims have been fearing these so-called clawbacks since the scandal broke, in part because some people who withdrew significant amounts have long since spent the money, then lost the rest of their savings in the fraud.”

http://finance.yahoo.com/news/Madoff-investors-ordered-to-apf-15027879.html?sec=topStories&pos=4&asset=&ccode=

The insanity continues unabated…

Oh! And, by the way; quite aside from the absurdity of asking people to return money they earned in good faith and might have already spent, if this goes through, it can be nothing but deflationary.

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