Wednesday, April 1, 2009

DOBA is All too Real for Madoff Victims

I offer this morning’s small April Fool’s joke with apologies to Signetics who ran an ad in 1972 for write-only memory.

Sadly for the victims of Bernard Madoff’s huge Ponzi scheme, the concept of a Deposit-Only Bank Account (DOBA) is all too real. It doesn’t much matter how good the investment returns are if you can’t ever withdraw your money.

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