Flytiger--be serious -there are no self respecting Wall Streeters, friend. Just like Michaeal Vick, is a self respecting football player. He should be serrving everyday of his 10 year sentence, for crimes far worse than Madoff.
Stick with me for a moment: I have often wondered if the professional sports business offers any type of utility to society greater than entertainment value. (easy for me to do as I do not watch sports other than tennis). My conclusion is that pro-sports redirects people's inherent tribalism and desire to dominate/violence into something harmless and amusing, and as such it make society better off as it is more peaceful. Pro-sports are a surrogate activity for violent tribalism. Is it possible allowing this largely fraudulent financial sector to operate (pilfering profits derived from easy money govt credit policies and pretending it is somehow a part of the "real" economy) is in fact better than the alternative? The alternative would be to turn all these greed-obsessed sociopaths loose in the "real" economy, where perhaps we would see a huge uptick in forced prostitution, underground slavery, and all sorts of lucrative but immoral, socially destructive activities. Wall street paper money "raping and pillaging" might be a surrogate activity for the real thing. There is no need in the "real" economy for these highly intelligent sociopaths. Perhaps, like pro-sports, we are better off allowing them to play in their fake paper economy and pilfer us to a smaller degree , vs. the alternative which would literally destroy our nation overnight and turn it into a living hell. Sure, at this point perhaps we have allowed these natural born criminals to go to far, however lets make sure we give them something, as without their paper pilfering they will be out for blood and a more naked, raw form of exploitation. Not sure I agree with the idea but worth considering.
1 promethius--quick read as i have to go-and will read later, but yeah I think you are on to something here. It might be best to leave them where they be .. if the psychopath hyenas were let out of the park- they would do more destuction
Flytiger--u are far too moral an individual to be working in this trade. I say this with all admiration. U are either a great trader or doomed to lose
De mortuis nil nisi bonum The two sons ran a very legitimate (and profitable) section of the business. Even if you want to doubt, they were not charged and they were never accused of being involved in any criminal wrong doing (to this point). A wife has lost her husband and now two children will grow up without a father. Show a little respect and if you don't have anything nice to say keep it shut.
I am not 100% negative on wall street so that last post of mine was too bleak. There are some great firms and great people. Unfortunately there was a hostile (in the late 70's or 80's I think) takeover at some point. There are still firms that focus on real economic value and building real companies, however the fast buck hucksters who have been so damaging to our real economy seem to have stolen the main stage
Even if this is true mobsters won't get a single penny back by killing them. Easy comes easy goes. Being poor is still acceptable. Being a con artist it's not.
winston tj--its people like me that might save your ass. The sons ran a very legit profitable bus. and had no idea what dad was doing on the entire 17th? floor of the Lipstick building. Do u know how large those fls. are sir. My tears surely do not flow for for this hurt, non knowing, wife. Nor do they flow for a friend of mine that lost about 30 mil to Madoff and now some agency is looking to collect tax on the money Madoff "made" for them-probably right but...How dare u ask me for sympathy on this wife? I'll put forht my prayers for dead soldiers, country's perpitrating monstrous crimes -african mostly- killing and maiming their people. Blood diamond people. and many many others .But I will not tolerate a min. of silence for Mrs. Madoff.
http://www.radaronline.com/exclusiv...s-suicide-son-left-2m-fortune-wife-foundation Bernie Madoff's Suicide Son Left $2M Fortune For Wife In Foundation Mark Madoff left almost $2 million parked in a charity listed in his wife's name, RadarOnline.com has exclusively learned. What's more the charity gave out no money to any cause in 2009 but still received the tax breaks of a nonprofit organization. Mark, the son of incarcerated Ponzi scheme architect Bernie Madoff, committed suicide on Saturday, on the two-year anniversary of his father's arrest. Mark worked for his father's firm that bilked $65 billion from investors. The son ran a nonprofit foundation until his death. He was distraught over his father's actions and always insisted her knew nothing about the scheme his dad ran, a scam that ruined individual investors and charities. In a federal tax filing to the IRS on June 10, 2010 -- and obtained by RadarOnline.com -- Bernie Madoff's oldest son declared the Mark and Stephanie Madoff Foundation was worth a whopping $1,881,199. A closer look at that foundation reveals: * It gave no grants, contributions or gifts in 2009, according to the 990 form signed by Mark. * It employed no people. * It paid just $710 in taxes for the financial period of 2009. * Mark, who listed himself as President, named 158 Mercer Street where he was found dead, as the foundation's business address. * It had only three board members - Mark, Stephanie, and Andrew Madoff - each of whom worked a minimum of 12 hours per week. * Wife Stephanie is listed as secretary while brother Andrew is treasurer. The foundation's balance sheet includes $1,077,284 in corporate stock, $326,198 in US and state government obligations, $205,374 in corporate bonds and $265,375 in savings and cash. The foundation listed one other asset, which was not specified but is worth $6,96. While there is no delineation of who or what The Mark and Stephanie Madoff Foundation served, the revealing tax filing obtained by RadarOnline.com details how the foundation traded in stocks after Bernie Madoff's arrest, when the family fortune took a massive hit. The foundation made most of its money in one heavy day of trading on August 21, last year, totaling almost $50,000. It sold shares in a number of companies, including Agco Corp, BCE Inc, Calpine Corporation, Caterpillar Inc, Fluor Corp and Tiffany & Co. As RadarOnline.com reported, Mark was found dead in his New York apartment about 7:30 am Saturday. The 46-year-old hanged himself in the living room of his apartment in Manhattan's upscale SoHo neighborhood. His 2-year-old son and dog were found in the apartment, unharmed. While Mark ran the trading desk at Bernard L. Madoff Investment Securities, he staunchly denied any wrongdoing and no charges were ever brought against him, although prosecutors said they continued to investigate. Mark's foundation has long been the center of controversy, after The Daily Beast revealed how Bernie quietly slipped his son $2 million to set-up the The Mark and Stephanie Madoff Foundation "as the walls started closing in" on his Ponzi scheme. Bernie, whose personal tax returns have been made public, declared a gift of that amount to the foundation in 2007 and took a tax deduction for it, saving him approximately $1 million in taxes.
LOL I never asked for your sympathy. Yes I know exactly how big the floors are in that building. All I said was that a wife lost her husband and two little kids lost their dad - think/say what you want in private but as the saying goes: if you don't have anything nice to say, don't say anything at all. De mortuis nil nisi bonum - maybe you guys should google it. As for the mafia "hit man" theories, I highly doubt Mark tipped his doorman, valet, grocery and dry cleaning delivery people and sorted some other personal affairs all the day before his murder was to be setup as a suicide. EDIT: and what do you mean by "its people like me that might save your ass"???? Very curious to know what you mean by that.