Does he get royalties for these shows? Somebody (he or his wife) should get something I would think, whether or not they have to fork it right back over to some settlement. I looked, I couldn't find anything written about that. Kinda like Manson. Do their life stories become public domain? There's a fine line there. Like unauthorized biographies. ASCAP and BMI can charge licensing fees to bars if they have live bands performing covers. Not sure how this is any different. Of course Madoff and Manson didn't copyright their life stories. But then again isn't living ones life an implied copyright? You own your own story; or at least you should. In a way, its just more exploitation of his victims... and they get nothing in return. That sounds pretty fair.
I recall having a conversation back in 2009 (i think) with a fund-of-funder who was "involved". I kept asking why would anyone invest in something so opaque? Apparently, people did think it was too good to be true. However, nobody suspected a ponzi scheme. Instead, people thought was that he was (a) front-running the clients of his brokerage and/or (b) has some serious access to insider info.
'Back in 2001 there were 2 separate articles (MAR Hedge and Barron's) questioning Madoff's strategy. There is zero chance they didn't read those articles and from then on, they should have asked questions. I understand why they didn't, I just can't accept the answer...' IMO it was because he was their father, very convincing and an authority figure to his sons. They probably reacted like I would....'those authors don't know what they are talking about'.... 'they have never run a hedge fund, they have never sold a stock'.....my Dad is a great man respected by many' etc..... Calm down....I wasn't challenging you, just illustrating that he had two sons of which one committed suicide and the other one gave his mother (Madoff's wife) an ultimatum. That would reinforce the idea that they did not know what was going on. Madoff's brother also worked for him. I don't recall what he knew.
They didn't know what was going on just like Karen The Supertrader didn't know what was going on. ;-)
No... Generally, there are laws (varies by each state) prohibiting criminals from profiting crimes, although they have been challenged for being unconstitutional: https://en.wikipedia.org/wiki/Son_of_Sam_law "In 1987, lawyers for publishing giant Simon & Schuster sued the New York authorities to prevent enforcement of the Son of Sam law with respect to a book they were about to publish called Wiseguy, written by Nicholas Pileggi. The book was about ex-mobster Henry Hill and was used as the basis for the film Goodfellas. The case reached the federal Supreme Court in 1991. In an 8–0 ruling on Simon & Schuster v. Crime Victims Board, the court ruled the law unconstitutional. The majority opinion was that the law was overinclusive, and would have prevented the publication of such works as The Autobiography of Malcolm X, Thoreau'sCivil Disobedience, and even The Confessions of Saint Augustine." The book OJ wrote ended up profiting the victim's (Goldman) family, although not automatically but because they had a civil suit won against OJ: https://en.wikipedia.org/wiki/If_I_Did_It There are multiple series and documentaries on the OJ's story and he didn't get any profit from those either...And if he would get anything it would go to the Goldmans... Further reading: http://scholarship.law.stjohns.edu/cgi/viewcontent.cgi?article=1855&context=lawreview
Because fund of fund investors are people and they are swayed by reputation, association etc.... The Daily Alpha: Alternative Thinking on Strong Hedge Fund Names, Apr 3 2017 | 1:49pm ET Real talk on alternative investments, business, finance & politics April 3, 2017 Quotes of the Day "Hedge fund investors chase hedge fund names containing a special combination of words related to economics and geopolitics, or that convey power." Don’t underestimate the power of marketing… no matter how bad the product is. According toresearchers at the University of Buffalo, investors are smitten by hedge funds that have strong, powerful names. And that’s even with these funds underperforming the ones with weaker names. Add the word “Alpha,” “Prodigy” or some other strong moniker to upsell a fund, and the inflows increase by an average of more than $227,000 per year. Names with gravitas and power include: Marathon Macro Strategic Allocation Manchester Alpha Fund Lionhart Aurora Venture Segregated Class A Now to the performance. Despite the powerful names, the researchers said they were surprised that “funds with gravitas were not that hot in terms of performance.” As CNBC explains, “hedge funds with positively associated name gravitas have annualized alphas up to 0.97 percent lower.”
I am thinking of a name in the future called "Alpha Prodigy Macro Strategies - Class A"! Hopefully this name is still unregistered yet! Otherwise, change it to "- Class Z"!
I dunno WHY they choose to make another movie about this piece of shit of Madoff. They already made a TV movie starring Richard Dreyfuss (very well made and very well acted by all the cast especially Mr. Dreyfuss - he should REALLY win an Emmy for his acting in this movie) about his shit scam, WHY do we have to make movies about him again and again and again about the shithead and what he did? I cannot imagine what all his victims would feel having this scumbag and what he did in their face again and again and again? Seriously this piece of garbage needs to rot in jail and be forgotten by all instead of being touted about like some kind of marvel. Overall, I feel Robert DeNiro's talent can be spent elsewhere. I DO believe that neither of his sons knew about his scams and DEFINITELY the magnitude of it. They first of all were in a totally different areas of his business which is the brokerage business which provides totally different service in a financial company and by the virtual of Chinese wall, they are totally separate from Madoff's scam which is the asset management arm of the business. And even if they had suspicions which I am sure they did at one point, I am sure they were soothed away by the lies and explanation by Madoff. If Madoff can convince millions of people to invest in his non-existent funds, he can convince his own children. And Children trust their parents naturally; it's their parents, their dad, somebody who raised them. In every child's eyes, his/her parents is always the hero especially somebody like Madoff who was a self-made millionaire, a financial visionary who co-founded Nasdaq, an ENTIRE EXCHANGE!! And lastly, you will be surprised that how little those financial professionals read besides some headlines that moves the market. They only read what they need to do their job. All those trade magazines from Wall Street are really written for the public. LOL