What is the Sound of D.E. Shaw Clapping?

From the FT, this financial zen revelation:

DE Shaw, one of the largest US hedge funds, plans to appoint independent administrators to provide third-party checks that its investments exist, in an effort to reassure investors panicked in the wake of the alleged $50bn Madoff fraud.

Next we need someone to check and see if the S&P 500 exists. I haven’t seen it in a while.

Related posts:

1. What is the Sound of One Hedge Fund Clapping?
2. Bernie Madoff — A Cynic’s Take: Frauds within Frauds
3. Bernie Gets a Plea Deal?
4. Madoff Story is Staggering
5. Madoff: So How Much Money Are We Really Talking About?