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By Richard Schickel
$12.13
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By Sebastian Seung
$10.17
$18
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Wikimedia Commons: U.S. Department of Justice / Georges Biard (CC-BY-SA) / U.S.
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The spectacular flameout of Bernard Madoff after the big reveal of his fraudulent financial empire played out like Shakespeare for the 21st century, and master actor Robert De Niro was clearly paying attention.
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AP / Louis Lanzano
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Ponzi schemer Bernard Madoff’s got nothing but time as he serves his sentence in a North Carolina prison for defrauding a vast network of clients out of billions of dollars, and he’s apparently not averse to spending some of it sitting for interviews that aren’t likely to help his standing much.
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AP / Louis Lanzano
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It’s hard to believe that it has already been two years since the implosion of Bernie Madoff’s devastating Ponzi scheme, and it’s hard to comprehend why the fallen financier would choose this moment to unburden himself to New York magazine’s Steve Fishman ...
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AP / Louis Lanzano
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It appears that some higher-ups at JPMorgan Chase were on to fraudster Bernie Madoff nearly two years before the catastrophic implosion of his Ponzi scheme, but said execs didn’t take this knowledge as reason enough to stop doing business with him.
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Russia Today via YouTube
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In a sort of Russian-style town hall meeting, Prime Minister Vladimir Putin fielded questions Thursday about his government’s policies and practices in a lengthy televised session (running time: 4 hours and 29 minutes) that included the cheeky query, “How is your puppy, Buffy?”
Posted on Dec 16, 2010
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AP / Jason DeCrow
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Fallen financier Bernard Madoff’s brother, sons and niece are now in legal hot water after a court-appointed trustee filed suit against them on Friday for allegedly pocketing “ill-gotten gains” they received from Madoff’s fraudulent business ventures, according to The Wall Street Journal.
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By Robert Fisk — Everyone trusted Salah Ezzedine. A billionaire Shiite Muslim businessman and financier from southern Lebanon, he organized pilgrimages to Mecca, ran a major Beirut publishing house and a children’s television station, held major investments in east European oil and iron conglomerates and—much more to the point—was a close personal friend of very senior leaders of Hezbollah.
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AP / Louis Lanzano
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It was a sad case of too little, too late when it came to the Securities and Exchange Commission’s readings of Bernie Madoff’s now-collapsed house of cards. On Wednesday, the SEC released a report about Madoff’s massive financial boondoggle, detailing the many moments in which chances were missed to stop the damage from spreading as far as it did.
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AP / Louis Lanzano
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Bernard Madoff’s connection with the New York-based Jewish charity Hadassah has become fraught above and beyond the economic level since the organization’s CFO, Sheryl Weinstein, claimed that she and the fallen financier had an affair, which she details in her upcoming memoir, “Madoff’s Other Secret: Love, Money, Bernie, and Me.”
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AP / Louis Lanzano
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Despite several occasions when he thought he had been nailed by the SEC, Bernard Madoff continued with his Ponzi scheme, revealing in his first jailhouse interview that he was “amazed” that he got away with it for so long. Madoff spoke to lawyers about his financial larceny Tuesday, during which he was called both candid and an “absolute gentleman.”
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Amy Goodman talks with Bethany McLean, pictured, a contributing editor at Vanity Fair and one of the journalists responsible for exposing the Enron scandal in 2001, about Bernie Madoff and what his 150-year sentence means on Wall Street. Check out this clip from Tuesday’s “Democracy Now!”
Posted on Jun 30, 2009
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panacheprivee.com
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Manhattan financier and art aficionado Ezra Merkin may pay a high price for passing some $2.4 billion of his own clients’ money to Bernard Madoff, if New York Attorney General Andrew Cuomo has his way in the matter.
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AP photo / Mary Altaffer
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By Robert Scheer — The good news on the government’s “No Banker Left Behind” program is that, according to the special inspector general’s report on Tuesday, the total handout to date is still less than 3 trillion dollars. It’s only $2.98 trillion, to be precise, an amount six times greater than will be spent by federal, state and local governments this year on educating the 50 million American children in elementary and secondary schools.
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msrb.wordpress.com
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Some of them have only their homes, while others have no remaining assets and no means to earn income, but all of the former clients of Bernard Madoff (above) whose statements were made public by the government on Friday described in nightmarish terms their experiences since Madoff’s fraudulent investment empire crumbled.
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gawker.com
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While her husband is entering a decidedly less lavish living arrangement, it appears that Ruth Madoff is getting ready to live the Palm Beach life in her $9.4 million spread in Florida—a state known for property laws that protect owners from losing their homes even when other assets are seized.
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minimemodelworks.com
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Although $10 million is a lot of money, it’s not much compared with $50 billion in lost investments. The $10 million figure represents the upper limit of the current value of Bernard Madoff’s businesses, which Madoff had valued at $826 million before his proverbial fall. It doesn’t look good for his defrauded investors’ chances of reclaiming much of their missing funds.
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AP photo / Jason DeCrow
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Citing such sketchy precedents as rulings in the cases of Enron’s Kenneth Lay and Jeffrey Skilling, Bernard Madoff’s legal team filed an appeal at a New York federal court on Friday requesting that their client be released on bail until he is sentenced on June 16.
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Once again, the economy is front and center on “Left, Right & Center”—and with good reason.
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AP Photo/ Louis Lanzano
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The country’s most notorious scam artist, Bernard Madoff, pleaded guilty on Thursday to fleecing thousands of investors out of as much as $65 billion at the New York District Courthouse, where several of his defrauded clients turned up to hear him speak.
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AP photo / Louis Lanzano
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It’s not as though he has many other options, but alleged fraudster Bernie Madoff is preparing to plead guilty on Thursday to swindling thousands of clients out of as much as $50 billion in investments.
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Even though this CBS report seems to want to make a feel-good story out of this one, it’s more the stuff of nightmares, despite 90-year-old Ian Thiermann’s good-natured take on his fate. After being retired for 30 years, Thiermann discovered that he’d lost his entire retirement fund due to Bernie Madoff’s shenanigans, and now Thiermann is working for $10 an hour in a California supermarket.
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amnesta.net
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This information should shock no one by this point, but it seems that there are more tales of alleged fraud emerging from the general direction of Wall Street. Move over, Bernie Madoff.
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minimemodelworks.com
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Ah, capitalism. First, we had Ponzi schemer Bernard Madoff making big money off his clients, and now here comes ModelWorks, a toy manufacturer with an enterprising plan for how to profit off the failed financier in turn.
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seemoresplayhouse.com
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Not that anyone else who suffered losses at the hands of failed financier Bernard Madoff is any less important, but it turns out that actor Kevin Bacon is one member of the vast network of investors in Madoff’s collapsed company, along with famed pitcher Sandy Koufax.
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AP photo / Jason DeCrow
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It might seem a stretch, but fallen financier Bernard Madoff’s legal team may be “exploring an insanity defense,” according to the New York Daily News.
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The co-founder of one of Bernard Madoff’s biggest corporate clients, Access International Advisers, was found dead of an apparent suicide on Tuesday morning in his New York office.
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Bernie Madoff made a big mess, and Detroit’s Big Three drove themselves to the brink. So what’s the good news this week—Caroline Kennedy’s auspicious entrée into her famous family’s political biz?
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blog.kir.com
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Turns out that certain employees at the Securities and Exchange Commission weren’t just asleep at the wheel, as it were, when they should have been paying more attention to Bernard Madoff’s worrisome investment activities.
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AP photo / Gerald Herbert
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On Thursday, President-elect Barack Obama introduced three top financial appointees who will help him with the unenviable task of revamping the government’s economic regulatory system and “crack[ing] down on this culture of greed and scheming that has led us to this day of reckoning,” as Obama put it.
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epws-shanghai.org
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Although the full extent of the damage from broker Bernard Madoff’s alleged super-swindle has yet to be determined, it’s clear by now that the collapse of his vast pyramid scheme may spell utter disaster for several of his top investors—some of whom might not know yet that they’re broke.
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streetinsider.com
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Here’s yet another candidate for the expanding collection of Tales from the Dark Side of Wall Street (is there any other side?): The Wall Street Journal reported Friday that Bernard L. Madoff, a top trader for nearly five decades who has served as chairman of the Nasdaq Stock Market, was arrested this week after his sons turned him in for engineering an elaborate “Ponzi scheme.”
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