Madoff has not place a trade in 13 years!

Discussion in 'Professional Trading' started by shortie, Feb 20, 2009.

  1. not sure if this is the right forum :D .

    Feb. 20 (Bloomberg) -- Bernard Madoff, who sent his clients thousands of receipts purporting to document their trades, has left no trace of buying any securities for customers for as much as 13 years, the trustee liquidating his securities firm said.
  2. DWV


    And I'm sure he faked all those docs by way his kids were not involved. When they weren't trout fishing they were busy at their little PC's faking monthly statements.
  3. RedDuke


    There is a very little chance that they were not involved.

    However, what I do not understand why he did not flee rather than turning himself in.

    My only guess is that he stole money from some many people across the world that US is the safest place for him.

    Is not not amazing, you would be cut if you stole even 10g from street locals, but steal billions and you will pretty much be Ok.
  4. I'm not so sure about that.
    That "Pipe Fitters" Union in Albany, NY that he defrauded can't be too happy - - - if you know what I mean!
  5. JB3


    He only turned himself in because he didn't want anyone to go after his kids. This way, he can take all the blame himself. I'm pretty sure the whole family was involved.
  6. PVC doesn't hurt like the old iron ore.

    All the willing enablers will get reigned in because all the FBI and less abled individuals will be able to determine the quality, production and suppliers of the paper for the "statements".

    Believe me,in the time,the shit will hit the fan and we will get to know who all the players were. It is only a matter of time.

    Ideally, a little water torture for Madoff , his wife and his sons will definitely expedite matters.
  7. svrart


    Madoff has not placed a trade in 13 years!


    Aha -- we have identified another ET member!!!!!

    :D :D :D :D
  8. bingo ! maybe he saw that he's not long for this world, and made one attempt at redemption. sort of a death bed (row ?) conversion, if you will.
  9. He's more than likely got a billion stashed in an Israeli bank account. He'll get bail, commit "suicide" and be sipping martinis on the Med for the rest of his life.
  10. firscall


    Run to where? By taking the can he is attempting to protect his sons; if he ran then the spotlight would have been on his sons and Madoff would still haved been caught. Afterall, he doesn't have Bin Laden's networks.
    #10     Feb 21, 2009