Good victory lap, Liz.
Cruz is doing a DISASTROUS job of spinning this.
If he fails to turn this around, it’s better we see his glass jaw now than to see it after he’s nominated.
HOW/D THEY DO THAT? When he went to jail, investigators found Ponzi King Bernie Madoff had stashed billions offshore---into a labyrinth of financial entities. Some $8.9 billion was funneled to Madoff through a dozen so-called feeder funds based in Europe, the Caribbean and Central America.
The labyrinth of hedge funds, management companies and service providers, to unsuspecting outsiders, seemed to compose a formidable system of checks and balances. But the purpose of this complex financial architecture was just the opposite: the feeder funds provided different modes for directing money to Madoff in order to get rich and avoid scrutiny.