So I was looking back at some of the things written about Bernard Madoff before the recent revelation of his super-extraordinary Ponzi Scheme and found this excerpt from Trading & Exchanges by Larry Harris, published in 2002:
"Many institutional traders would like to trade with Madoff in order to access the liquidity that its dealers offer. [Madoff's] firm, however, will not accept them as clients unless it is convinced that they are generally uninformed traders."
Well, no kidding.
