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December 25, 2008 at 07:00 PM
When trailing 12 months of misery are capped with the most respected name in high finance revealed to be nothing more than a lowly crook, well … you know it’s bad. After initially pegging their Madoff exposure at $10 million, Tremont Group, MassMutual’s foray into the hedge fund business, revealed Monday the figure is closer to $3.3 billion. Okay, a slightly higher number, but what’s a few extra zeros in a time when companies can literally get mountains of cash for the simple act of failing miserably?
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