Word: rye
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...feeder funds. These funds were set up by outside firms, which would then funnel the money they received from investors to Madoff. Unlike Madoff's, all the firms running feeder funds had well-known accounting firms listed as their auditors. So, for instance, when investors put money in the Rye Select Broad Market fund, one of the largest Madoff feeders, its statement said that their investments had been audited by KPMG...
...appears KPMG, along with the other auditors of the Madoff feeder funds, did very little to ensure investors weren't being ripped off. Observers say it's likely that all the accounting firms did was check the statements that Madoff himself produced. In the 64-page document Rye Select sent to all its potential investors is the statement "Valuation provided by the counter party affiliate [Madoff] will not be subject to independent review...
...spokesperson from KPMG says that the firm's audit of the Rye Select Broad Market fund conformed to all professional standards and that the firm would vigorously defend its work. A BDO Seidman spokesperson says that his firm is not and has never been the auditor of Madoff Securities. The BDO spokesperson also says that his firm's audit of Ascot Partners met professional standards and that the firm would defend its work. "It is unfortunate that these investors would bring legal action before all of the facts are known and seek to blame others for their own investment decisions...
...Anymore.” “Madagascar” sees Rose sampling Martin Luther King, Jr. while singing about his mid-life crisis. Isn’t hard rock supposed to be more exciting than this? Rose wails a response on “Catcher in the Rye:” “If I thought that I was crazy / Well I guess I’d have more fun.” Ditto, Axl. 2008 has seen a slew of new releases from seemingly defunct bands, the best of which is Metallica?...
...chilly morning outside the hamlet of Reykjahlid in northern Iceland, Hallgrimur Jonasson lifts the edge of a soggy plank of wood lying in the clay to expose a small hole in the ground. "This is the rye-bread bakery," he says, yanking his hand back from a waft of scalding, sulfurous steam. A chef in a nearby hotel, Jonasson estimates his kitchen staff bake roughly three tons of the sweet, dense rye bread in the hole every summer to meet the growing demand, mostly from tourists, for the exotic carb. The bread's price tag - up nearly 20% from last...