Today's
www.Citizen.com says the NH attorney general has filed a petition to place Financial Resources into federal bankruptcy court as an involuntary bankruptcy. The lawyer for the principal says his client has been away, under a doctor's care, and will return.
When the Bernie Madoff scheme first came to light, a couple europeans who were duped into investing their client's millions & billions with Madoff went to the slow and painfull extreme of suicide by slitting their wrists while seated, fully clothed, in a bathtub without water. That could be a French traditional manner for expressing one's personal regret ......so sorry about the mess & bon voyage!.....
Gee whiz...why not have the State of NH jump in, & bail out Financial Resources with a big injection of 23-million dollars of state cash, just like the feds did for AIG, Citi, Bank of America, GM, Fannie & Freddie.....but not Lehman Brothers or Washington Mutual who are now pending in bankruptcy court.
...and how much risk is too much risk? ...and if the decision-maker did not have a go-to backer behind them, would they have taken on so much risk? So, where do investors go to get their money back?
So, what exactly happened to Financial Resources, and where exactly is the presumably lost money now? Where did it go? Where is the money? Was it accidentally thrown out with the morning trash? Was it secretly buried up the hill, behind the big pine tree? Was it loaned out to people who can no longer repay their loans for some unknown reason and now Financial Resources cannot make its' monthly payouts to its' investors? Like, what happened? Where's the money, and where did it go, and how did it get there?
Hey, the Sunday Nov 22
www.concordmonitor.com has a long article on this. It is longer than 1/2 of a newspaper page.....that's long for a NH paper....and full of info.