If you're young, pay attention to Madoff.

[murray t turtle]

Quote from flytiger:

I'd rather be the doctor. You'll be dead a long time. It's up to you if you're grave is covered with flowers or urine.

===================

That was priceless.Also wish when people think of his family;
they think of how well Nasdaqqq worked with limit orders.

Things could get so tough, they may have to bring back the banking 3rd ''c''-character, collateral, capacity to pay.


FlyT, you be the doctor. I'd rather be the manager of the yard tractor driver-yard that size, one may get some insight in ag & floral trends.

 

[lindq]

Quote from Port1385:


Do you really think Madoff and his family are living in shame?

Would you rather be a member of Madoff's family living in the house below or a doctor who lives in a cheap $3000 a month studio high rise on the upper east side?

I would rather be a member of Madoff's close family right now. I wouldnt mind living this life of shame.

This post, and others of yours that I've stumbled on, tell me that you are either (A) Young, (B) Ignorant, or (C) Both.

I'm guessing (C). If you had either any maturity or any smarts you'd know that money like this does not buy happiness, and it won't improve your life if you have a rotten marriage, shitty kids, or are involved in criminal activities.

Decades of research has shown that individuals...and entire populations...are far happier when they want and need less, not more.

Madoff is the worst of human slime. Not only did he rip off innocent investors, but he put his family through hell. Even assuming that some of his family members were in-the-know, he initiated the scheme for which they will all pay. They are living a hell right now that you can only imagine, and hope that you never experience.

 

[Humpy]

They say that they make'm big in America
Madoff's effort is so big. it's even made the news across the Atlantic !

We don't get to hear of the thousands of smaller cons and ripoffs but you guys certainly seem to have no shortage of crooks !
There's a major scandal every few days ! What's with that Blagovitch fella ?

Better tell the NEW MAN - open up Alcatraz before they take over.
Could even have a pitch and putt course around the rocks ?

 

[mindmerge2k]

i still can't believe that house

 

[Surdo]

Quote from mindmerge2k:

i still can't believe that house

It's Ira Rennert's house, not Bernie's!

http://images.google.com/imgres?img...29&prev=/images?q=Ira+Rennert&um=1&hl=en&sa=X

 

[flytiger]

Gasparino is reporting that two weeks ago, this prick took money from a widow. It constituted his 401k plan.

Now, I've met some mean mother fuckers in my day, but this guy ranks (pun intended) right up there. and there is another lesson from this.

When you do a deed, any deed, of an inappropriate nature, there will be victims, whether you see them or not. And sometimes, the blow back can be huge, and you'll singe your eyebrows.



Enjoy your Holiday.

 

[GCSICLRBC]

Madoff's $50B fraud, while not quite a death knell for Hedge Funds, is making an unattractive prospect even more unappealing.

I believe this development could become a POSITIVE for the Managed Futures business as intelligent money moves from large pools of capital, to individually managed accounts under the scrutiny of the CFTC.

There will be recriminations in this. I suspect his sons were involved in some fashion, but with ol' Bernie protecting them, they'll likely escape indictment.

--H

 

[brocklanders]

Taking a widow's life savings three weeks before you are busted and already know what is going to happen should add about 10 years to his sentence. Judges pay particular attention those kind of stories during the sentencing phase. Bernie should be about 100 when he is released from prison if he is lucky.

 

[2cents]

Quote from black diamond:

I strongly disagree with the statement that quant risk management/VAR is useless. It is not sufficient but it is neccessary. I agree that it doesn't work for tail risk and you have to add on management judgement, extreme scenarios, etc but that is not what VAR is for. Even if it does not work for worst day of the decade events, you need to understand your exposure to normal worst day of the year type events to function, and quant risk management is generally capable of that.

I think everybody knows risk management's limitations (except those who intentionally play dumb) but without it you think people would take less risk? There is no excuse for blowing up on a moderately bad day, and institutional traders playing with other people's money are more likely to take that type of risk without modern risk management.

no dispute... most of us would look at the rearview mirrors from time to time while driving...

 

[flytiger]

Quote from brocklanders:

Taking a widow's life savings three weeks before you are busted and already know what is going to happen should add about 10 years to his sentence. Judges pay particular attention those kind of stories during the sentencing phase. Bernie should be about 100 when he is released from prison if he is lucky.

I hope the cocksucker gets cancer, and they put him on life support and keep him alive for another 40 years.

Except for the act of taking a life, this is a most horrendous of crimes.

I'm going to take a ride up to "Fast Eddie's Pawn Shop in Riviera Beach this weekend. It was featured on CNBC. I want to see what these people gave up, just so it is ingrained in my mind, and I never forget.