Remember when I expressed my suspicion that sovereign wealth funds from the Middle East got caught by the Wall Street collapse, with the effect that oil prices went through the floor to recoup losses on Wall Street? Apparently, the list of victims from Madoff’s Ponzi scheme includes the Abu Dhabi Investment Authority.

http://www.iht.com/bin/printfriendly.php?id=18836588

Oil producing countries would have needed as much cash as possible as quickly as possible to keep from losing face from losing money on Wall Street, and particularly losing money on Madoff’s Ponzi scheme. Quick cash would have been necessary to cover up the shame of losing so much money.