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Madoff the jerkoff
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DBWS08
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PostPosted: Tue Jan 13, 2009 12:28 pm    Post subject: Madoff the jerkoff Reply with quote

Please forgive me if this subject has been discussed to death, can you believe this scumbag Madoff is still allowed to live in his penthouse? How in the world can he live with what he'd done?! I would have a little respect for him had he jumped out of the building.

Do you believe his two sons who had turned him in really had no idea of his scam? How can that be possible? You know what I suspect? I think they are all in it together, Bernie Madoff decided to take the blame in order to spare his sons. What do you think?
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moviegeekjn
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PostPosted: Tue Jan 13, 2009 12:33 pm    Post subject: Reply with quote

He did write a note of apology to his neighbors (for the media commotion his presence is causing)
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matt
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PostPosted: Tue Jan 13, 2009 12:35 pm    Post subject: Reply with quote

People like to forget about due process when a guy is caught red-handed but it still applies.

1. He is innocent until proven guilty
2. He is not considered a flight risk or a threat to public safety, therefore he was eligible for bail and posted it.
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Oden
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PostPosted: Tue Jan 13, 2009 12:49 pm    Post subject: Reply with quote

There's certainly nothing funny about what the guy did, but I think it's funny that a guy who stole money has a last name pronounced "Made-off".
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moviegeekjn
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PostPosted: Thu Feb 05, 2009 1:08 pm    Post subject: Reply with quote

Sandy Koufax among ripped off Madoff clients
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levski
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PostPosted: Thu Feb 05, 2009 1:11 pm    Post subject: Reply with quote

http://dealbook.blogs.nytimes.com/2009/02/05/boldface-names-from-the-madoff-customer-list/

Quote:
The 163-page list included notable figures from the worlds of sports, politics and business; DealBook highlighted a few below.

Some caveats: The list includes anyone who responded to advertisements placed by the trustee overseeing the bankruptcy of the firm, and not every name on the list is necessarily a victim of Mr. Madoff’s reputed $50 billion Ponzi scheme. There was no indication how much money, if any, each customer invested.

From baseball: Sandy Koufax, the Hall of Fame pitcher and Dodgers legend (also an old friend of Fred Wilpon, the Mets owner who was also burned by the Madoff scheme) and Tim Teufel, a former Mets second baseman.

From entertainment and the media: John Malkovich, the actor; the estate of John Denver, the late singer; and Larry King, the talk-show host.

From politics: Frank Lautenberg, the Democratic senator from New Jersey, and Mark Green, the former public advocate of New York City.

From the business world: Larry Silverstein, the New York real estate developer.

As the media combed through the list for names, one in particular seemed to catch nearly everyone’s attention: Ira Lee Sorkin, Mr. Madoff’s own lawyer.


At least Madoff was an equal opportunity jackoff

Full list available here

http://dealbook.blogs.nytimes.com/2009/02/04/madoff-trustee-unveils-list-of-firms-customers/
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moviegeekjn
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PostPosted: Thu Feb 05, 2009 1:16 pm    Post subject: Reply with quote

levski wrote:
...
Quote:

From baseball: Sandy Koufax, the Hall of Fame pitcher and Dodgers legend (also an old friend of Fred Wilpon, the Mets owner who was also burned by the Madoff scheme) and Tim Teufel, a former Mets second baseman.



At least Madoff was an equal opportunity jackoff

Full list available here


So Madoff is a Yankee fan? Mets players scammed only?
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levski
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PostPosted: Thu Feb 05, 2009 1:20 pm    Post subject: Reply with quote

moviegeekjn wrote:


So Madoff is a Yankee fan? Mets players scammed only?


He is a true American hero Laughing
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PostPosted: Thu Feb 05, 2009 3:00 pm    Post subject: Reply with quote

levski wrote:
http://dealbook.blogs.nytimes.com/2009/02/05/boldface-names-from-the-madoff-customer-list/
Quote:

As the media combed through the list for names, one in particular seemed to catch nearly everyone’s attention: Ira Lee Sorkin, Mr. Madoff’s own lawyer.


Talk aboutcher failure to do due diligence... Shocked
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TAP
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PostPosted: Thu Feb 05, 2009 3:04 pm    Post subject: Reply with quote

EvilJuan wrote:
do due diligence.

was more like doodoo diligence
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EvilJuan
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PostPosted: Thu Feb 05, 2009 3:14 pm    Post subject: Reply with quote

TAP wrote:
EvilJuan wrote:
do due diligence.

was more like doodoo diligence


I was waiting for someone to catch that! Very Happy

TAP = WINNER!!! Laughing
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deweyniner
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PostPosted: Thu Feb 05, 2009 6:03 pm    Post subject: Reply with quote

This thread is funny.
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DBWS08
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PostPosted: Fri Feb 06, 2009 1:04 pm    Post subject: Reply with quote

The one thing Madoff has accomplished by bilking his own people? He broke the never-dying anti-Semitic stereotyping - Jews always look out for one another and Jews are smarter when it comes to investing their money.

By the way, I read an article that actually quoted a well-known historian saying how much Madoff has hurt the Jews by concluding that the story of the Jews in America is now over. According to him, American Jews have lost the great energy that made them such a force in American life in the past century.
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TAP
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PostPosted: Fri Feb 06, 2009 1:09 pm    Post subject: Reply with quote

It never occurred to me that Madoff was Jewish until this very moment. There's no disrespect intented in my response, but I don't think this is a Jewish story at all. This is a story about a scumbag. Scumbags come in all shapes, sizes, and from all walks of life.
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DBWS08
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PostPosted: Fri Feb 06, 2009 1:21 pm    Post subject: Reply with quote

TAP wrote:
It never occurred to me that Madoff was Jewish until this very moment. There's no disrespect intented in my response, but I don't think this is a Jewish story at all. This is a story about a scumbag. Scumbags come in all shapes, sizes, and from all walks of life.


TAP, you're right, scumbags are scumbags but what's really unique in Madoff is the fact he'd hurt his own inner circle and numerous Jewish causes. Google Newsweek and see if you can find an article called "Uncle Bernie", very revealing stuff.
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PostPosted: Fri Feb 06, 2009 1:39 pm    Post subject: Reply with quote

DBWS08 wrote:
TAP wrote:
It never occurred to me that Madoff was Jewish until this very moment. There's no disrespect intented in my response, but I don't think this is a Jewish story at all. This is a story about a scumbag. Scumbags come in all shapes, sizes, and from all walks of life.


TAP, you're right, scumbags are scumbags but what's really unique in Madoff is the fact he'd hurt his own inner circle and numerous Jewish causes. Google Newsweek and see if you can find an article called "Uncle Bernie", very revealing stuff.


Madoff isn't unique. Google "Baptist Foundation scandal Phoenix AZ" and see what you find. These rip-off artists -- Madoff perhaps being infamous only because of the sheer amount of money -- typically abuse the trust of people who share some common interest, such as a religious affiliation -- although that isn't necessarily central. Then, if they've managed to "do well" they can spread their influence, and enlarge the scope from which their victims arise.
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levski
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PostPosted: Fri Feb 06, 2009 2:06 pm    Post subject: Reply with quote

Madoff ripped off mostly Jewish people and Jewish foundations because, overwhelmingly, it was Jewish people and Jewish foundations that flocked to give him their money. It was a "word of mouth"affair--I know people who know people who know a real Mensch. If you weren't Jewish, you were a lot less likely to know Madoff, or know someone who knew Madoff--unless you happened to invest in a fund run by a (Jewish) guy who acted as a feeder to one of the Ponzi schemes. Believe me, Madoff would ripoff anyone, of any religion or belief... That being said, it's true that the Jewish community in NYC is feeling quite betrayed and devastated, financially and emotionally, by the Madoff scheme. There is indeed an element of belief that a Jewish person would never rob another Jewish person (sucks if you are not Jewish, I suppose), so the Madoff scandal has really impacted NYC's Jewish circles.
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deweyniner
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PostPosted: Fri Feb 06, 2009 4:59 pm    Post subject: Reply with quote

Think folks are mad now?


Wait til the big ponzi scheme fails.
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qudjy1
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PostPosted: Wed Feb 11, 2009 1:34 pm    Post subject: Reply with quote

Wife withdraws 15M before arrest.

Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad
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levski
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PostPosted: Wed Feb 11, 2009 1:39 pm    Post subject: Reply with quote

qudjy1 wrote:
Wife withdraws 15M before arrest.

Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad


See, kids, that's why you should always be nice to your wives.
You never know when you are actually going to really need them.
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deweyniner
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PostPosted: Thu Feb 12, 2009 6:12 pm    Post subject: Reply with quote

levski wrote:
qudjy1 wrote:
Wife withdraws 15M before arrest.

Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad


See, kids, that's why you should always be nice to your wives.
You never know when you are actually going to really need them.


Actually, not a bad move, if they'd just have made it to Costa Rica before he got nabbed, they coulda had a nice life down there.
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levski
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PostPosted: Thu Feb 12, 2009 8:09 pm    Post subject: Reply with quote

deweyniner wrote:
levski wrote:
qudjy1 wrote:
Wife withdraws 15M before arrest.

Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad


See, kids, that's why you should always be nice to your wives.
You never know when you are actually going to really need them.


Actually, not a bad move, if they'd just have made it to Costa Rica before he got nabbed, they coulda had a nice life down there.


I believe Costa Rica has extradition treaty with the US
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DBWS08
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PostPosted: Sat Feb 21, 2009 10:37 am    Post subject: Reply with quote

levski wrote:
deweyniner wrote:
levski wrote:
qudjy1 wrote:
Wife withdraws 15M before arrest.

Evil or Very Mad Evil or Very Mad Evil or Very Mad Evil or Very Mad


See, kids, that's why you should always be nice to your wives.
You never know when you are actually going to really need them.


Actually, not a bad move, if they'd just have made it to Costa Rica before he got nabbed, they coulda had a nice life down there.


I believe Costa Rica has extradition treaty with the US


The trustee in charge of investigating said there was no indication Madoff had bought stock for his clients during the past 13 years. They've recovered 650 million so far including the 15 million Mrs. Madoff had withdrew. And, they are going after every member of the Madoffs.

Also, there is something called "clawbacks", the investors who had received profits over the years will have to return them for redistribution since the gains were generated from "false profits".
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Dre
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PostPosted: Sat Feb 21, 2009 12:46 pm    Post subject: Reply with quote

DBWS08 wrote:


The trustee in charge of investigating said there was no indication Madoff had bought stock for his clients during the past 13 years.


I don't doubt this guy's word in regards to the scheme and I'm not fully versed on the extent of all of Madoff's business. But I do remember seeing the market make "MADF" trading in stocks over the last nearly 7 years I've been in the business. Just off memory, they id seem to be much more active in stocks 5+ years ago. Probably a totally unrelated part of the business that wasn't part of the Ponzi scheme.
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levski
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PostPosted: Sat Feb 21, 2009 1:02 pm    Post subject: Reply with quote

Dre wrote:
DBWS08 wrote:


The trustee in charge of investigating said there was no indication Madoff had bought stock for his clients during the past 13 years.


I don't doubt this guy's word in regards to the scheme and I'm not fully versed on the extent of all of Madoff's business. But I do remember seeing the market make "MADF" trading in stocks over the last nearly 7 years I've been in the business. Just off memory, they id seem to be much more active in stocks 5+ years ago. Probably a totally unrelated part of the business that wasn't part of the Ponzi scheme.


http://www.nytimes.com/2009/02/21/business/21madoff.html?_r=1&ref=business


Quote:
Meanwhile, investigators with the United States attorney’s office in Manhattan and the Securities and Exchange Commission are trying to piece together what Mr. Madoff did in the suite where he managed clients’ money, several floors below the legitimate stock-trading business that was the public face of Bernard L. Madoff Investment Securities.

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