EAST BANKS

BANZAI7 NEWS--Tang Jun, the former chief executive of Microsoft China and the only known Chinese victim in the Bernard L. Madoff scandal, has decided that Chinese private banks are a much safer place to invest his assets, China Daily reported.

Mr. Tang delegated his investments abroad to four foreign financial companies, which put large parts of their portfolios in Mr. Madoff’s funds.

The sad thing is he is right.