Bernie Madoff

“The Peter (Madoff) Principle,” Circa 2012: ‘Justice Delayed is Justice . . . Eventually’

Jon Corzine Free Until . . . 2022? “Peter Madoff Pleads Guilty to Fraud.” —Headline; The Wall Street Journal (June 29, 2012) Coming up on the four year anniversary of the demise of Bernie Madoff”s multi-billion dollar Ponzi scheme, his younger brother, Peter, has now plead guilty to fraud. Given that the case was cracked...
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The Trickle-Down Case for Indulging Wall Street

Colbert Interview with Eliot Spitzer I’m not a Stephen Colbert regular, but I did catch his interview the other night with “disgraced former New York Governor Eliot Spitzer” (that’s now Spitzer’s official moniker, by the way). Colbert’s cut-to the chase question: even if Wall Street is full of inept crooks and greedheads, as most everyone...
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Deal(ing) with the Devil

Why Be a Goldman Sachs Client? I’d rather have the SOB in the tent and pissing out, then the other way around. –Lyndon Baines Johnson He may be a son of a bitch, but he’s our son of a bitch. –FDR It’s a question that’s been gnawing at me since at least last December, when...
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Cracked Crystal Ball

I’m a Contrarian Indicator (at least on stocks) On March 9, I wrote: Until investors are satisfied that the Madoff’s of the world have been dealt with appropriately, and convincing steps have been taken to assure that there won’t be any more . . . don’t hold your breath waiting for a sustainable stock market...
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Madoff Musings

Sightseeing in NY City So, how do you spend a week in New York City with a couple kids? The usual: Empire State building, Statue of Liberty, Museum of Natural History, Central Park Zoo, Bernie and Ruth Madoff Penthouse. OK, that last one I added on my own. And as of last week, it’s not...
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Who Can You Trust?

(More) Recession Trend Spotting If you want a friend in Washington . . . get a dog. –President Harry Truman To my mind, what’s unique about this recession isn’t just the damage to people’s pocketbooks — bad as that may be so far — but to something more fundamental: their trust. You don’t have to...
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