http://www.youtube.com/watch?v=2I0QN-FYkpw Peter Schiff nailed it!
Updates from auto-trading community
High performance, including native InfiniBand support
- New native InfiniBand implementation accesses InfiniBand at the "native verb" layer for improved latency, throughput, and scalability.
- Very low latency of 5 microseconds on native InfiniBand or 41 microseconds on Ethernet can be achieved for 45-byte messages at a throughput rate of 10,000 messages per second.1
- Very high throughput, one-to-many multicast messaging can deliver more than 40 million 12-byte messages per second on native InfiniBand, approximately one million 120-byte messages per second on Ethernet, and close to three million 120-byte messages per second on InfiniBand, all on common x86 servers 1.
SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme
FOR IMMEDIATE RELEASE
2008-293
Washington, D.C., Dec. 11, 2008 — The Securities and Exchange Commission today charged Bernard L. Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC, with securities fraud for a multi-billion dollar Ponzi scheme that he perpetrated on advisory clients of his firm. The SEC is seeking emergency relief for investors, including an asset freeze and the appointment of a receiver for the firm.
The SEC's complaint, filed in federal court in Manhattan, alleges that Madoff yesterday informed two senior employees that his investment advisory business was a fraud. Madoff told these employees that he was "finished," that he had "absolutely nothing," that "it's all just one big lie," and that it was "basically, a giant Ponzi scheme." The senior employees understood him to be saying that he had for years been paying returns to certain investors out of the principal received from other, different investors. Madoff admitted in this conversation that the firm was insolvent and had been for years, and that he estimated the losses from this fraud were at least $50 billion.
http://www.sec.gov/news/press/2008/2008-293.htm
http://newyork.fbi.gov/dojpressrel/pressrel08/nyfo121108.htm
