Extraordinary Popular Delusions and the Madness of Crowds

By Alan Katz

January 3, 2009

Thierry Magon de La Villehuchet’s sense of honor led the descendent of French army officers and an ennobled shipping family to commit suicide after he put his friends and family in a “catastrophic” financial situation by investing with Bernard Madoff, his brother said.

Villehuchet, 65, chief executive officer of Access International Advisors, believed that he had lost all of the funds invested with Madoff’s eponymous investment firm, including the $1.4 billion LUXALPHA SICAV-American Selection managed by Access, Bertrand Magon de la Villehuchet said in an interview.

“For him, it was a positive act of honor,” said Bertrand, 74, who lives in Paris and received a note from his brother after Thierry’s death. “He brought his friends and clients, and a lot of them were his friends, to a catastrophic situation.”

Read Full Article at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aZ1dnq3VWwOs&refer=worldwide

Yo Bernie: Don't even think about taking a page from the Code of Honor! Earth to regulators-- how much life insurance does Bernie have? If there is a carve-out for suicide --tie the mother down! Unless its from AIG. Then again they only do property and casualty insurance -- they don't do life. (Their executive's might by the time the Inquisition is done with this investigation).

You gotta love Thierry Magon de La Villehuchet! Went out like a man. He was honorable and also incredibly considerate-- he collected his blood in pail! Really! Read the god damn article... I'm not making this stuff up! Then again Prince Michel from Yugoslavia was in charge of Investor Relations for his firm. Really! Keep reading. Rumor has it the Pope was Chairman of the Audit Committee (that's a joke?) but plausible.

-Love Sticky