This cartoon is by Craig Marks. Try as I might, I could not link to him to give him due credit. He apparently writes an occasional Opinion column for the Akron News.
Ponderings on the Madoff Scam
Exactly whose responsibility is it to do the due diligence? Exactly who did not perform proper due diligence? When is it okay to pass off the job of due diligence to someone else? There are going to be many a jury deliberating just such a topic in years to come! . . .
Another lesson to take away from this is that the definition of Diversification needs to be broadened. Investment Diversification must also include diversification among fund managers and companies not just “within the portfolio”.
Madoff & Greed by Tweed
How sad that a "Boss Tweed" cartoon drawn and published in 1871 is so very current for todays times. "The Brain" was drawn by Thomas Nast. It was published by Harper's Weekly on October 12, 1871.