Comments on: 1st Madoff-Related Suicide Hits the Tape

By: CPJ13

CPJ13 — Wed, 24 Dec 2008 16:57:29 +0000

I wonder how much ‘waste management’ money was lost with this guy…

By: How the Common Man Sees It FKA DavidB

How the Common Man Sees It FKA DavidB — Wed, 24 Dec 2008 16:51:44 +0000

If either of these possibilities are real, then Madoff might end up talking in order to strike a protection deal.

That’s a great idea. Even though it is beyond their specialty, we should ask the SEC to protect him

By: blindsquirrel

blindsquirrel — Wed, 24 Dec 2008 15:39:37 +0000

the case in the media is too centered in Bernie Madoff,
and tho he is a scumbag,
there are co-scums that should be in jail;
so, as i look at a 2002 due diligence document from brazilian bank on Kingate:

Peter Madoff – brother and co-manager

Kingate 4 directors:

Sandra Manzie (President of Tremont Advisor)
Charles Sebah (partner of SV Intl.)
Cristopher Wetherhill (Director of Hemisphere – Kingate Manager)
Keith Bish (Controller)

By: wunsacon

wunsacon — Wed, 24 Dec 2008 07:51:21 +0000

That being said, I have to wonder: Was it really suicide?

Also, as far as armed guards for Madoff, consider the possibility that two types of people might want him dead:
- Clients who lost money.
- Collaborators who don’t want him to talk.

If either of these possibilities are real, then Madoff might end up talking in order to strike a protection deal.

By: wunsacon

wunsacon — Wed, 24 Dec 2008 07:48:28 +0000

I feel so sad for this man and his widow. I can imagine the pain of losing so much of people’s money. (Not that I’ve done it. But, I’ve thought about it — and then decided I don’t want to even offer to my family members the option of me managing their money…)

Someone earlier said it’s just “paper”. But, people spend a good portion of their lives working in order to accumulate it and spend it on whatever they like at some point. Imagine you were in his shoes. You took money from families and invested it with a fund with a great track record run by a former industry chief. Now, it’s gone. And it turns out there were signs you could’ve known something was wrong. And there’s no way you an make it up to the people you disappointed.

So very sad.

By: macattack

macattack — Wed, 24 Dec 2008 05:57:19 +0000

Maybe the greedy people of this world should take a clue from the movie “A Christmas Carol”. There are too many Ebenezer Scrooge’s out there! Maybe the 3 spirits could visit them and change them like in the movie. No, it will never happen. Greed is just too soul consuming. They dance with satan! The only 3 spirits of modern day is now called gov’t bailout!!!

By: macattack

macattack — Wed, 24 Dec 2008 04:22:56 +0000

Mr. Madoff will have to explain to God why he did what he did. His greed has wiped out a lot of people’s lifetime savings etc. Why are certain people soo greedy? What does the allure of such greed mean to people to sell their soul to such a degree that it consumes them to this despicble level of human existence? What the heck do these type of folks think? Greed Greed Greed. Other people that are losing their jobs, homes, etc. what do you think of what they think of these bastards? I can tell you of what I have heard from some of these folks(me included because I have just lost my job that I have had for 22 years) and it is not pretty(think of open gun season for deer hunting), but this is not my opinion because I fear the good Lord. Common people of this country are getting really fed up with this BS of Madoff’s, over paid CEO’s and the like. What happens when over 20% of the good ole USA is out of jobs because of this type of greed? It’s a shame that the Frenchman mentioned in the article commited suicide because of some greedy bastard. Who knows what the future holds for our economy, but it doesn’t look good. We have have been hit by the sub-prime mess and the bailouts etc. and it will get worse!! May God bless the USA once again. He shrugs His shoulders at this type of greediness that has enevolped this country!! Wake up people!

By: How the Common Man Sees It FKA DavidB

How the Common Man Sees It FKA DavidB — Wed, 24 Dec 2008 02:03:36 +0000

@Mark E Hoffer Says: December 23rd, 2008 at 8:29 pm

In your story:

However, Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in “suspicious” stock sales “calculated to maximize the personal benefits from undisclosed inside information,” the lawsuit said.

What?! You mean they didn’t go short or buy puts to maximize their returns? Rookies!

By: Mark E Hoffer

Mark E Hoffer — Wed, 24 Dec 2008 01:29:05 +0000

BR,

this story, about the ’suicide’, has been wall-to-wall on ProleTV, yet this one: http://www.nypost.com/seven/12042008/business/ponzi_scheme_at_citi_142511.htm

broke by Crudele nearly 3 weeks ago, seems to be circling the Memory Hole, what’s your take?

By: capt dave

capt dave — Wed, 24 Dec 2008 00:36:11 +0000

Kunstler says it better than me:

The tipping point seems to be the Bernie Madoff $50 billion Ponzi scandal, which represents the grossest failure of authority and hence legitimacy in finance to date in as much as Mr. Madoff was a former chairman of the NASDAQ, for godsake. It’s like discovering that Ben Bernanke is running a meth lab inside the Federal Reserve. And out in the heartland, of course, there is the spectacle of Illinois governor Rod Blagojevich trying to desperately dodge a racketeering rap behind an implausible hairdo.
What seems to spook people now is the possibility that everybody in charge of everything is a fraud or a crook. Legitimacy has left the system.