Madoff Seeks Leniency at Fraud Sentencing

hoodooman · Jun 30, 2009

One guy invested 5 mil with Madoff and got 500k back from sipc. If I had 5 million I would think that that much in treasury bonds would tide me over just fine. The last place that I would be looking to invest would be a hedge fund.

You need just the right mix of greed and stupidity to put that kind of money in a hedge fund unless you have a hell of a lot more some place else.

By the way. He said he inherited it from his father. lol

atticus · Jun 30, 2009

Quote from Cutten:

Note the last word in my question: "How would it "fit the crime" for relations of his to lose assets they had earned legitimately?"

TheStudent advocated asset seizure, quote, "regardless of guilt"

He paid for the son's lifestyle out of the Ponzi.

zdreg · Jun 30, 2009

Quote from atticus:

He paid for the son's lifestyle out of the Ponzi.

if the sons did not know about the crime they are innocent 3rd parties. this desire for vengeance is disgusting. why not go after the butler or the chauffeur for the part of their salary which could deemed to be excessive.

you should be more concerned about Obama who wants 100%of your paycheck

zdreg · Jun 30, 2009

why shouldn't the sec be forced to pay because of dereliction of duty.?
why shouldn't the principals of the feeder funds be forced to return their fees because of dereliction of duty?

these are not innocent parties.

marketsurfer · Jun 30, 2009

Quote from zdreg:

why shouldn't the sec be forced to pay because of dereliction of duty.?
why shouldn't the principals of the feeder funds be forced to return their fees because of dereliction of duty?

these are not innocent parties.

why not just give manhattan and the rest of the USA back to the american indians? they were ripped off...

:eek:

zdreg · Jun 30, 2009

Quote from marketsurfer:

why not just give manhattan and the rest of the USA back to the american indians? they were ripped off...

:eek:

do u disagree that the principals of feeder were derelict in their fiduciary responsibilities?

marketsurfer · Jun 30, 2009

Quote from zdreg:

do u disagree that the principals of feeder were derelict in their fiduciary responsibilities?

i don't have enough information to make any conclusion in every case-- im not an insider are you ?

perhaps they were provided with strong evidence that BM was legit during the due dilligence. perhaps not, i don't know.

zdreg · Jun 30, 2009

Quote from marketsurfer:

i don't have enough information to make any conclusion in every case-- im not an insider are you ?

perhaps they were provided with strong evidence that BM was legit during the due dilligence. perhaps not, i don't know.

one look at the name of his accountants should have raised suspicion. a visit to the accountant's office would have confirmed that perhaps something is not right..
no insider info was needed.
if i recall you manage OPM.
your response is not suprising.

ipatent · Jun 30, 2009

Take this FWIW

Entertaining if nothing else.

http://www.russiatoday.com/Top_News..._tied_to_intelligence_agencies.html?fullstory

Humpy · Jul 1, 2009

What a bonanza for the crooks of the jail Bernie is sent to.

My guess is he won't hold out telling them where he stashed the loot for more than about 5 minutes !! The Feds on the other hand will be about 2 light years behind, trying to recover cash.