Who was the Bigger Madoff ?? Madoff or Lucent ??

[JG]

http://www.haaretz.com/news/extent-of-madoff-fraud-now-estimated-at-far-below-50b-1.271672

"Former SEC head Harvey Pitt agreed that Madoff "probably inflated the
amount of money he had under management." He predicted the actual loss
would fall below $17 billion.

"But there's no question the amounts are probably north of $10 billion
and that's a lot of money by anyone's reckoning," he said at a recent
forum on the case."

http://the-lro.com/docs/lucents%20legacy%2011.13.05.htm

"The speed of Lucent's decline was as stunning as its severity. In the
space of 24 months, the market capitalization of Lucent dropped by
nearly a quarter of a trillion dollars, from $258 billion to $10
billion. Lucent went from spending $100 million to advertise its new
name to turning off lights and shuttering bathrooms to save pennies.
...
Scientific advances also allowed existing technology to be used more
productively. This led to a situation of gross overcapacity; industry
analysts estimated that 97 percent of all the fiber-optic cable laid
was never "lit," or activated"

[Steve Sobol]

In article <36187db3-fb21-4b5d-b282-d4ab821f9ac8
@k28g2000yqc.googlegroups.com>, JG says...

Post by JG
http://www.haaretz.com/news/extent-of-madoff-fraud-now-estimated-at-far-below-50b-1.271672

more offtopic crap about Lucent, I see?

[JG]

http://www.haaretz.com/news/extent-of-madoff-fraud-now-estimated-at-f...
"Former SEC head Harvey Pitt agreed that Madoff "probably inflated the
amount of money he had under management." He predicted the actual loss
would fall below $17 billion.
"But there's no question the amounts are probably north of $10 billion
and that's a lot of money by anyone's reckoning," he said at a recent
forum on the case."
http://the-lro.com/docs/lucents%20legacy%2011.13.05.htm
"The speed of Lucent's decline was as stunning as its severity. In the
space of 24 months, the market capitalization of Lucent dropped by
nearly a quarter of a trillion dollars, from $258 billion to $10
billion. Lucent went from spending $100 million to advertise its new
name to turning off lights and shuttering bathrooms to save pennies.
...
Scientific advances also allowed existing technology to be used more
productively. This led to a situation of gross overcapacity; industry
analysts estimated that 97 percent of all the fiber-optic cable laid
was never "lit," or activated"

A rough analysis shows that Lucent was a bigger Madoff than Bernie, by
a factor of 10x.