When the curtain was removed, the Wizard from Oz was revealed to be an ordinary person. A charade was exposed – The wizard was found out as a con-man and fraudster, but what, as so many believe, were the hidden symbols?

The celebrated Wall Street investor, Madoff, aroused little suspicion with his investment strategies and it is being said that now his curtain has been pulled away, it`s not what had been expected. A Wizard from Oz was being played out – his investment schemes that promised so much, were indeed empty.

Trading, collateralised lending and investment exposures to him have been numerous, including with RBS,  Santander (Abbey,  A+L,  B+B)  and HSBC.

The Wizard from Oz had tried to ensure that he would never see Dorothy again and got her to do his dirty work for him. However, when he was discovered, humility was shown and he handed out gifts to the Tin Man, Lion and Scarecrow……..  perhaps it should be an allegory of our times …… and symbolises nothing.