Marc's Mortgage Matter's

Warren Buffet once noted that "you only find out who is swimming naked when the tide goes out." The collapse of what prosecutors say was the biggest Ponzi scheme in history, orchestrated by the NY money manager Bernard Madoff, has left a large number of powerful and smart people shivering on that beach.

Mr Madoff's suspected multibillion-dollar fraud, discovered as falling markets exposed the fiction of its 10% annual profits, provided a stark reminder of how greed impairs judgement, duping some of the world's supposedly savviest investors for decades. It raised once more a fundamental question of these times; where were the regulators when all of this was happening?

Just lock your dog and your spouse in the trunk of the car for an hour.

When you open the trunk, which one is really happy to see you?