Jeez, all this dumb sh*t about about the same dumb person .. um well, its driving me mad off my head.
At the minimum, I know mutual fund and 401k is a scam. 2% each year for something with a 50-50 chance beating index performance. Then, a retirement program where mutual fund has to pay to get listed as an option.
I think the USA has gone soft on fraudsters and other criminals. Today's youngsters seem to think getting caught is just a part of some game but to get away with it ........then you are someone !! Even first degree murderers in the US have a cushy 20+ years with en-suite facilities, colour telly etc - wasting taxpayer's money. Give them 6 months tops to find a credible defence or XXXX fried !! Let's hope Obama shows a bit of steel
No, this is Ira Rennert's house in Sagaponack, New York. Took me a bit to figure this one out. Property taxes for Bernie's Long Island house were listed at $17,000 in one article so his digs are much more modest in comparison. This house has taxes of approximately 400k per year which values it at 170M. http://en.wikipedia.org/wiki/Ira_Rennert
Ironically (or maybe not), Ira Rennert was reported by CNBC to "heavily, heavily invested" invested with Madoff.
I think its more that at a certain level of income your net worth just becomes a dick measuring contest and complete greed takes over if out of nothing more than boredom. Also people are just stupid. I thought Buffet made a great point on this that you could offer him 5 billion to play russian roulette with a gun that has a 100k chambers and he would still never do it. Winning would mean nothing, losing means everything.
A recent article said his sons turned him in. They may have, but I'm guessing that was a calculated move intended to put 100% of the blame on Dad to keep the kids out of jail too. They had to have known something. I agree with an earlier comment - there is no way he did all this himself without help from anyone else.