Bernie Madoff Gets Sued . . . in NY, MA [NY Attorney General Andrew] Cuomo Sues Over Madoff Investments –Headline, The New York Times (4/6/09) How is it that Bernie Madoff broke state laws in New York and Massachusetts (that state is also suing), but not Minnesota? Doesn’t Minnesota have an attorney general — and...Read More
Financial Res Ipsa Loquiter – Part 2 [Note: please return to this post after reading Part 1] Even people who agree that holding Wall Street accountable is a laudable goal are likely to raise four objections. The most serious arguments — and the rebuttals — are: One. “No laws were broken.” Specifically, the SEC allowed...Read More
Financial Res Ipsa LoquiterIf the stock market surged 15% in the week since Bernie Madoff finally went to prison, just imagine what it would do once the senior management at companies like AIG, Citigroup, Goldman Sachs, and Fannie Mae are held accountable for their behavior. And why shouldn’t they be? Thanks to the legal principle...Read More
Stock Buyers Strike . . . For Good ReasonWhen will the stock market finally bottom?Here’s a thought: it won’t be when P/E ratio’s hit some magic level, or market cap’s (capitalization’s) become tantalizingly low, or even when the housing market finally stops falling. It will be when Bernie Madoff is in prison, and he and...Read More
Silver Linings vs. Black Linings A silver lining is something good, usually long-term, that comes of something bad and helps redeem it, at least a little bit. So what is a “black lining?” A residual, negative echo of something very bad that continues to reverberate long after the original calamity has faded from memory. Bernie...Read More
“Know Your Customer (er, Mark)”In retrospect, disgraced financier cum swindler Bernie Madoff may have been a lousy investor, but he sure was a helluva salesman. How else does one attract $50 billion from thousands of investors and financial institutions worldwide? As best I can discern, herewith are his top five marketing insights (offered in the...Read More
