Noel’s New year Resolution

Dump Round Hill, make up with Andre and move into the kids’ house in Spain.

The Spanish real estate market is heading south, fast, so shuffling off to the Mediterranean coast might work an economy. I don’t know anything about Spain’s extradition laws but Walt’s 78 and you’d think a good lawyer could slow things down long enough to permit him to spend his dotage in the sun.

(hat tip:


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4 responses to “Noel’s New year Resolution

  1. CEA

    From Bloomberg: (and I completely agree!)

    “Second, feeder funds are a racket. They collect the money, extract a large fee, and pass it on to another manager who does the work. By the time both levels of fees are paid, your principal probably will decline, even if the fund itself makes gains. The general partners in feeder funds have only one job: to be rich, mingle with the rich, and make the rich want to surrender their money, at any price. Not bad work, if you can get it.”

  2. gideonfountain

    If Walter Noel were guilty of more than stupidity, he would have left town years ago. He was snookered along with the rest (albeit while profiting handsomely). Want more proof? Today’s Wall Street Journal reports even former Salomon Bros economist Henry Kaufman invested with Madoff! Think about it: Madoff was former president of NASDAQ and was a frequent invitee by the SEC for participation on rule-making committees. He fooled EVERYONE. Noel will lose everything so maybe it’s time to lay off.

    • christopherfountain

      If you didn’t share my last name, Buddy, I’d think you was stupid or somt’in. But Noel’s stupidity was a deliberate one – Kaufmann wasn’t paying attention, slipped Madoff a couple of mil and lost it. His life will go on. Noel’s life was based entirely on Madoff’s success and he thus made sure not to question how Madoff worked his magic. Big difference.

  3. Bob

    Your right Chris. And this link – especially the slideshow, is down right frightening: