Sense on Cents

With everything else going on in the world of global finance these days, I have been remiss in not commenting on Bernie Madoff. I saw a clip a week or so ago showing the “hellhole” in which he currently exists in Lower Manhattan. Even for a hellhole, he deserves worse.

Aside from that, I have heard speculation from a variety of sources that his wife Ruth was very deeply involved in the masterminding and execution of the scam. In addition, there have been clips – although not widely broadcasted – openly speculating that Bernie was closely connected to organized crime.

This story certainly goes beyond Bernie Madoff, and I can only hope that our authorities get to the bottom of it. The authorities would do well to engage Harry Markopolos in the process.

The FT provides a fabulous overview of the Madoff list of victims: Where Is Madoff’s $50 Bln Loss?

For my newer readers, you may be interested in reviewing my piece when the Madoff story broke: How Bernie “Madoff” With $50 Billion.

LD

This entry was posted on Saturday, April 11th, 2009 at 1:00 PM and is filed under Bernie Madoff, General, Harry Markopolos. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.