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Author Topic: Madoff pleads guilty to all charges  (Read 1122 times)

Online Dare

Madoff pleads guilty to all charges
« on: March 12, 2009, 04:20:24 PM »
I don't understand these crooks.They have money
and a life style most of us long for,but enough is never
enough



http://www.msnbc.msn.com/id/29651773?GT1=43001


Mark Twain once opined, "it's easier to con someone than to convince them they've been conned."

Offline cosworth151

Re: Madoff pleads guilty to all charges
« Reply #1 on: March 12, 2009, 04:49:44 PM »
I don't understand why he isn't sitting on some nice island with no extradition, sipping on an umbrella drink & thumbing his nose at the Justice Department. Take the money & run!
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Offline Scott

Re: Madoff pleads guilty to all charges
« Reply #2 on: March 13, 2009, 08:59:08 AM »
Seriously, I was thinking about Madoff.  I see the solution that would be fair.  Go through his books, and claw back all the returns he paid out to previous investors (get a court order, or whatever), then put all that money together and split it among the investors that lost everything proportionally to what they had invested.  I suspect that everyone would be fairly pleased because they probably wouldn't have lost as much as they would have in the stock market during the same time.
The Honey Badger doesn't give a...

Offline John S

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Re: Madoff pleads guilty to all charges
« Reply #3 on: March 13, 2009, 08:59:47 PM »
I find it very odd that Madoff can claim it has always been a Ponsi scheme, was there never an audit in all the years he has been taking investments? :confused:
 
In such a litigous country as the US I would expect a flood of writs for negligence against any auditors or accounting firms connected to the Madoff schemes.
Racing is Life - everything else is just....waiting. (Steve McQueen)

Offline Scott

Re: Madoff pleads guilty to all charges
« Reply #4 on: March 13, 2009, 09:35:41 PM »
That's not all - the SEC was tipped off by some wary investors to check into him numerous times and did nothing.  Oh no, this is just the start...I think some other people are going to be asked some hard questions.
The Honey Badger doesn't give a...

Offline cosworth151

Re: Madoff pleads guilty to all charges
« Reply #5 on: March 14, 2009, 12:32:31 AM »
Government oversight became a bad joke during the Bush regime. That's why our entire financial situation is in the state it's in, and why so any have died from poisonous foods, toxic toys and deadly prescription drugs.
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

 


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