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(Daily Mail)   Cancer has stage-4 Bernie Madoff   (dailymail.co.uk ) divider line 153
    More: Sick, Bernie Madoff, Virginia GOP, heart attacks, European Economic Area  
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13829 clicks; posted to Main » on 22 Jan 2014 at 9:50 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



153 Comments   (+0 »)
   
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2014-01-22 09:01:21 PM  
How could he have a heart attack when he doesn't have a heart?
 
2014-01-22 09:51:17 PM  
grumpycatgood.bmp

RaceDTruck: How could he have a heart attack when he doesn't have a heart?


Also, this.
 
2014-01-22 09:51:40 PM  
World's smallest violin -------> .
 
2014-01-22 09:53:35 PM  
Well, it isn't ass cancer.

But I'm sure prison cancer treatment isn't fun.
 
2014-01-22 09:53:49 PM  
ingat.info
 
2014-01-22 09:53:55 PM  
For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.
 
2014-01-22 09:54:11 PM  
ingat.info
 
2014-01-22 09:54:19 PM  
It couldn't have happened to a better person.
 
2014-01-22 09:54:21 PM  
Boo farking hoo.
 
2014-01-22 09:55:01 PM  

DarkSoulNoHope: [ingat.info image 400x400]


Oh for ch....
 
2014-01-22 09:55:06 PM  

Bane of Broone: grumpycatgood.bmp

RaceDTruck: How could he have a heart attack when he doesn't have a heart?

Also, this.


You got to put the effort in Bane! :) (Though I bet your on a smart phone right now)
 
2014-01-22 09:55:48 PM  

Mein Fuhrer I Can Walk: DarkSoulNoHope: [ingat.info image 400x400]

Oh for ch....


At least both our hearts are in the right place. :)
 
2014-01-22 09:57:18 PM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


To be fair, a lot of middle-class people were hit hard by him, but yeah, it was because he hurt so many wealthy people that he became so reviled. It's okay to destroy the world economy through manipulation of libor and bond market rates, subprime mortgages, credit default swaps, and so on, because hey, people with capital can make bank in a recession. Don't fark with the wealthy though.
 
2014-01-22 09:57:31 PM  
all you farkers that wished him ass-cancer damn near hit the mark. happy enough with renal cancer?
 
2014-01-22 09:57:46 PM  
His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.
 
2014-01-22 09:58:07 PM  
+1 because cancer deserves better.
 
2014-01-22 09:58:55 PM  
I once said I wouldn't wish cancer on anyone. I still believe so, but Madoff tests that greatly.
 
2014-01-22 09:58:59 PM  

aurorous: His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.


Plus he'd be praised as an "innovator".
 
2014-01-22 09:59:05 PM  
Refusing treatment, eh? I hope it takes it's sweet time killing him.
 
2014-01-22 09:59:11 PM  
What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?
 
2014-01-22 09:59:45 PM  

aurorous: His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.


I guarantee he damaged far more poor people's lives than the rich he scammed.
 
2014-01-22 09:59:58 PM  
Bizarre his son also has renal cancer.

That sounds environmental.
 
2014-01-22 10:00:07 PM  
Lou Perlman will say his cancer is stage 5
 
2014-01-22 10:00:56 PM  

TedCruz'sCrazyDad: Bizarre his son also has renal cancer.

That sounds environmental.


Genetic?
 
2014-01-22 10:01:27 PM  
That sucks. Cancer didn't do anything to deserve that.
 
2014-01-22 10:04:21 PM  

i78.photobucket.com

 
2014-01-22 10:07:28 PM  

TedCruz'sCrazyDad: Bizarre his son also has renal cancer.

That sounds environmental.


... a father and son both have the same disease and you think "environmental"? Really? Cause the first thing that pops into my head is "genetic".
 
2014-01-22 10:08:28 PM  

DarkSoulNoHope: Bane of Broone: grumpycatgood.bmp

RaceDTruck: How could he have a heart attack when he doesn't have a heart?

Also, this.

You got to put the effort in Bane! :) (Though I bet your on a smart phone right now)


Lol, nope. I just like the feel of the typed out image name and screwing around with the extentions.

themoreyouknow.pnf :p
 
2014-01-22 10:08:39 PM  
Karma is a biatch
 
2014-01-22 10:08:40 PM  
info.flexchecks.com

Maybe he should sign up.
 
2014-01-22 10:08:55 PM  

Boojum2k: aurorous: His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.

I guarantee he damaged far more poor people's lives than the rich he scammed.


Here locally, there was a plumbers' and pipe fitters' union that he farked - the opposite of the Silver Spoon crowd. People who worked hard all of their lives and scrimped and saved to be able to retire and spend their senior years in a bit of comfort lost everything they had worked for. F*ck this guy.

Use him as a test subject for some radical new cancer treatment. That way maybe he can contribute to the human race before he kicks.

Only if it works, give him a new kind of cancer and keep trying shiat. Repeat as necessary.
 
2014-01-22 10:08:55 PM  
Well...bye.
 
2014-01-22 10:09:14 PM  

Mein Fuhrer I Can Walk: DarkSoulNoHope: [ingat.info image 400x400]

Oh for ch....


No no...  It's "Shakes tiny fist".
 
2014-01-22 10:10:37 PM  

TedCruz'sCrazyDad: Bizarre his son also has renal cancer.

That sounds environmental.


Makes me wonder if it's just genetic or it was stress induced. You can get all kinds of health problems if you're worrying yourself to death.
 
2014-01-22 10:10:53 PM  
Does he qualify for a donated organ?
 
2014-01-22 10:11:37 PM  
Jeez!

If you guys can't say *anything* nice, come sit next to me.
 
2014-01-22 10:11:50 PM  
I guess cancer's tired of all the bad press it gets and is starting a PR campaign.
 
2014-01-22 10:12:32 PM  

Prey4reign: Does he qualify for a donated organ?


Depends on how desprate is cell mate is
 
2014-01-22 10:13:03 PM  
A shame they had the chance to stage him.

Not really, let him rot from the inside out.
 
2014-01-22 10:14:03 PM  

Boojum2k: aurorous: His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.

I guarantee he damaged far more poor people's lives than the rich he scammed.


This.

And to make matters worse, most of the folks who could afford it the least had little or no say in how their pensions were invested... those are run by "experts" who should have known better.
 
2014-01-22 10:15:12 PM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


You hurt me! Do you think what I am do is scam?

i1.ytimg.com

Do you think I have giant yacht because of scam?
www.infomercial-hell.com

Let me tell you!
s3.amazonaws.com

You buy my video. 100% guarantee if you not happy and rich after 30 days. You see how you can become happy and rich like me. Then you understand this not a scam.

But YOU must take first step.
cf.badassdigest.com
 
2014-01-22 10:15:52 PM  
Cancer didn't get the best of him.  It just made off with the worst of what was left.
 
2014-01-22 10:15:58 PM  

namegoeshere: Use him as a test subject for some radical new cancer treatment.


I've heard that getting kicked in the nuts repeatedly has shown promise. I'm not sure if it works, but it's worth a try.
As a bonus, you could probably find a lot of people who'd pay $10 for the chance and you could use that cash to fund more cancer research... win-win.
 
2014-01-22 10:16:01 PM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


Jeffrey Skilling got 14 years.  But let's be real, Madoff isn't doing "Hard Time".  He's in a low-security federal prison.  It's not great, but let's not act like it's ADX Florence.
 
2014-01-22 10:16:34 PM  

RaceDTruck: How could he have a heart attack when he doesn't have a heart?



Maybe somebody else's heart attacked him.
 
2014-01-22 10:16:55 PM  

That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?


Your television =/= some old person's pension.

/had me laughing near the end though, so I'll give you 8/10 for this one
 
2014-01-22 10:17:44 PM  
Geat opportunity...

Put him in solitary

Tell him they just cured cancer with a new drug

Tell him it's out of his price range. Only millionaires can currently afford it.

Film it so I can laugh.

"Just kidding your gonna die"
 
2014-01-22 10:21:04 PM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


Yeah, no, that's a quite common misconception.

Check out "American Greed" on CNBC some time. About 85% of those who get taken by Madoff and his ilk are ordinary people who've saved up enough to make it worth investing and want only to have enough extra income to not have to live on hamburger and cat food during their golden years. Or to leave a little something to their grandkids. They're not wealthy bozos who deserve to get taken.
 
2014-01-22 10:21:07 PM  

That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?


I was on the fence about his cancer until your post.

What he took from some people was their life savings and their future.
What he took from me (directly) were two of my biggest donors, forcing me to close a non-profit that helped children and the elderly. About 40 regular clients, their families - not to mention employees and volunteers.
If we are weighing his human life, the end of it in pain and incarcerated then I must balance that against the other human lives he impacted - he comes up short even when I add in his son's suicide.

Sorry - Anger overshadows pity
 
2014-01-22 10:27:21 PM  
I woulda gone with the "spiffy" tag myself.
 
2014-01-22 10:27:21 PM  
I don't even believe it. He just wants out of prison, and then he'll be able to beat cancer like Magic Johnson did with AIDs or that Libyan bomber who the Brits released.
 
2014-01-22 10:29:21 PM  

namegoeshere: Boojum2k: aurorous: His only mistake was he scammed rich people. If he had simply stolen from the middle class and poor like the rest of Wall St. he'd be a free man today.

I guarantee he damaged far more poor people's lives than the rich he scammed.

Here locally, there was a plumbers' and pipe fitters' union that he farked - the opposite of the Silver Spoon crowd. People who worked hard all of their lives and scrimped and saved to be able to retire and spend their senior years in a bit of comfort lost everything they had worked for. F*ck this guy.

Use him as a test subject for some radical new cancer treatment. That way maybe he can contribute to the human race before he kicks.

Only if it works, give him a new kind of cancer and keep trying shiat. Repeat as necessary.


Cut of your jib, newsletter, etc...
 
2014-01-22 10:29:38 PM  
Somebody ought to tell his wife. She seems out of the loop on a lot of matters concerning him.

www.nndb.com
 
2014-01-22 10:31:13 PM  
too bad it wasn't this greedy sociopath

encrypted-tbn3.gstatic.com
 
2014-01-22 10:31:19 PM  
A lot of people rage at Bernie Madoff, but let's remember the facts here; he ripped off only rich people who wanted to get even richer and not have to pay any taxes.

IMO, the greedy selfish suckers got what they deserved.
 
2014-01-22 10:31:31 PM  
So a Get Well card is out of the question?
 
2014-01-22 10:33:45 PM  
I worry that this is building towards a review for compassionate release. I hope not. I hope he dies in prison, alone and unloved. He deserves no less for the lives he ruined with his thievery.

/He deserves quite a bit more actually
 
2014-01-22 10:33:51 PM  

Gyrfalcon: Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.

Yeah, no, that's a quite common misconception.

Check out "American Greed" on CNBC some time. About 85% of those who get taken by Madoff and his ilk are ordinary people who've saved up enough to make it worth investing and want only to have enough extra income to not have to live on hamburger and cat food during their golden years. Or to leave a little something to their grandkids. They're not wealthy bozos who deserve to get taken.


Yeah, no, maybe not.

65 billion dollar fraud, 4,800 investors, and half of them didn't lose money, disregarding the fictitious profits.

You are confusing Madoff with things like Enron, where that actually was middle class victims.  You don't get to invest with someone like Madoff unless you have a shiat ton of money to begin with.
 
2014-01-22 10:34:12 PM  

parasol: That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?

I was on the fence about his cancer until your post.

What he took from some people was their life savings and their future.
What he took from me (directly) were two of my biggest donors, forcing me to close a non-profit that helped children and the elderly. About 40 regular clients, their families - not to mention employees and volunteers.
If we are weighing his human life, the end of it in pain and incarcerated then I must balance that against the other human lives he impacted - he comes up short even when I add in his son's suicide.

Sorry - Anger overshadows pity


I'm just being sarcastic, I'm glad the jackwagon is suffering.

I don't actually believe that human life is worth more than "things", I think things represent portions of human life. Murder takes away your future life, theft takes away your past life. If it took three hours of your labor to afford a TV and someone steal that TV, they stole 3 hours of your life. They might as well have kidnapped you for three hours.
 
2014-01-22 10:35:28 PM  
My tiny violin can only be seen with an electron microscope.
 
2014-01-22 10:37:49 PM  
Now I wish the Death Panels were real.
 
2014-01-22 10:37:50 PM  
He's lucky to be in prison, which is well known for its superior medical care.
 
2014-01-22 10:38:15 PM  
Good.
 
2014-01-22 10:39:27 PM  

That Guy Jeff: Murder takes away your future life, theft takes away your past life. If it took three hours of your labor to afford a TV and someone steal that TV, they stole 3 hours of your life. They might as well have kidnapped you for three hours.



Yep, this.
 
2014-01-22 10:40:12 PM  

tb tibbles: So a Get Well card is out of the question?


A "get sick" card would be cruel. But an "I'm happy you're in prison" card wouldn't be distasteful, would it?
 
2014-01-22 10:44:52 PM  
Normally I would have some sympathy, but not for this asshat.    After what Madoff pulled he deserves it.
 
2014-01-22 10:46:39 PM  

uber humper: TedCruz'sCrazyDad: Bizarre his son also has renal cancer.

That sounds environmental.

Genetic?


Sounds like proper wager is in order...
i45.photobucket.com
 
2014-01-22 10:50:23 PM  
As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?

/yeah, no sympathy here either
 
2014-01-22 10:51:54 PM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


I'm guessing if there existed such thing as a Death Note, there would be a dozen satellites locked into it, and hundreds of agents scouring the planet searching for anyone suspicious enough to have one.
 
2014-01-22 10:52:03 PM  
theelephantgun.files.wordpress.com
 
2014-01-22 10:52:42 PM  

rewind2846: As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?

/yeah, no sympathy here either


Exactly the reason why I have no sympathy.  It was the rich trying to get richer without asking any questions. But that's the whole idea of the scam: he gets your confidence.  Madoff is unbelievably charismatic.
 
2014-01-22 10:53:30 PM  
Bernie Madoff's illness cannot be slow enough or painful enough to balance the books for his crimes.

Flay him a millimeter at a time over ten years, washing him in alcohol every hour on the hour and you'd have a good start.  Use him for the stuff that Mengele and Unit 731 thought was over the top and I'll consider that he might have suffered enough.  The damage that sociopath caused went way beyond the financial sector.

He should suffer until the entire financial sector flinches when they hear his name.
 
2014-01-22 10:54:05 PM  
media3.giphy.com
 
2014-01-22 10:54:11 PM  
There is no violin in the entire pre-big-bang Universe small enough to play for Bernie.
 
2014-01-22 10:56:01 PM  

rewind2846: As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?

/yeah, no sympathy here either


Dude, that's called "blaming the victim". You aren't allowed to do that.
 
2014-01-22 10:58:26 PM  
MattyFridays: You are confusing Madoff with things like Enron, where that actually was middle class victims.  You don't get to invest with someone like Madoff unless you have a shiat ton of money to begin with.

Wrong.
Plenty of blue collar folks retirement funds were in there.  One white collar asshat making a decision for dozens or hundreds of working class folks handed the money to Madoff.  Amazing what turns up when you go past a headline or soundbite depth of knowledge.
 
2014-01-22 11:01:18 PM  

Laobaojun: Bernie Madoff's illness cannot be slow enough or painful enough to balance the books for his crimes.

Flay him a millimeter at a time over ten years, washing him in alcohol every hour on the hour and you'd have a good start.  Use him for the stuff that Mengele and Unit 731 thought was over the top and I'll consider that he might have suffered enough.  The damage that sociopath caused went way beyond the financial sector.

He should suffer until the entire financial sector flinches when they hear his name.


1) You must be fun at parties.

2) Citation needed

3) Good job mentioning Mengele, given that one of the most notorious of his scam victims was an Auschwitz survivor.
 
2014-01-22 11:02:44 PM  

That Guy Jeff: Dude, that's called "blaming the victim". You aren't allowed to do that.


Welp, I guess my posts in threads about Nigerian e-mail princes are useless as well...
 
2014-01-22 11:02:49 PM  
Bad news, apparently the cancer has rejected him.
 
2014-01-22 11:03:56 PM  

TV's Vinnie: A lot of people rage at Bernie Madoff, but let's remember the facts here; he ripped off only rich people who wanted to get even richer and not have to pay any taxes.

IMO, the greedy selfish suckers got what they deserved.


notsureifserious.jpg

csb: I was on one of those 100-person "research" vessels in the Antarctic when Madoff hit. Two of our passengers were Madoff victims. One got summoned to the bridge to take an urgent satellite call from his wife back home - to get the news that they just lost EVERYTHING.  He tells the story now that pretty much anywhere in the world you can fly home in anemergency.... except from a ship in Antarctica. His story involves seeing Madoff's face mocking him  on every penguin we saw for the next 10 days.

The way he describes Madoff was that he was synonymous with "bank" the way facial tissue = Kleenex, photo copier = Xerox, etc. It was always considered a safe, secure, very low-risk investment, and he fleeced so many regular people. People would pool their money to be able to buy into his fund because there was a minimum that these people could not reach alone.  It was horrible to see the lists of charities that he scammed out of their endowments, families who invested and lost their hard-earned retirement money, etc
Both guys from the trip joined what essentially was a Madoff support group here in the SF Bay Area.  One of the members of the group invested 100% of her savings with Madoff - which happened to be her Lukemia treatment fund. She lost everything.
Screw Madoff. Cancer is too easy an escape for that bastard.
 
2014-01-22 11:04:48 PM  

That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?


I think that line of reasoning would make more sense if they were connected:  if you risk death trying to stop a theft, or if someone faced a death penalty on account of stealing.

The mere fact that this guy is eventually going to die of something, just like everyone else on the planet, doesn't really absolve him of much.
 
2014-01-22 11:06:27 PM  

Xcott: if someone faced a death penalty on account of stealing.



Depends on whose house you break into.
 
gja
2014-01-22 11:06:40 PM  

Dread Patch Slappy: Karma is a biatch


I see we have this covered.
 
2014-01-22 11:09:25 PM  

Laobaojun: MattyFridays: You are confusing Madoff with things like Enron, where that actually was middle class victims.  You don't get to invest with someone like Madoff unless you have a shiat ton of money to begin with.

Wrong.
Plenty of blue collar folks retirement funds were in there.  One white collar asshat making a decision for dozens or hundreds of working class folks handed the money to Madoff.  Amazing what turns up when you go past a headline or soundbite depth of knowledge.


Citation needed.

Here's some of my citations:

http://en.wikipedia.org/wiki/List_of_investors_in_Bernard_L._Madoff_ Se curities

http://www.nydailynews.com/news/money/prosecutors-bernie-madoff-inve st ors-lost-ponzi-scheme-article-1.381923

In fact, a google search for "blue collar" and "Madoff" brings up his upbringing, but never his victims.  Madoff run a huge investment fund where he had some of the richest people in the world coming to him.  You think some jerkoff with a brown paper bag was coming to him to invest?

Whatever.  Chase is paying out 1.7 billion that's going to the victims.  The people who were hardest hit (i.e. the ones who lost the most with nothing to show for it) are going to be made whole.
 
2014-01-22 11:09:42 PM  
MattyFridays:

65 billion dollar fraud, 4,800 investors, and half of them didn't lose money, disregarding the fictitious profits.

You are confusing Madoff with things like Enron, where that actually was middle class victims.  You don't get to invest with someone like Madoff unless you have a shiat ton of money to begin with.


True to a point- but in this case people pooled their money to be able to invest in Madoff.  It was kind of like getting a bunch of friends together to buy a share of Berkshire Hathaway.
I personally know two victims, neither of whom I would ever have described as anything above middle-class. Madoff COMPLETELY fleeced them, and was an amazing scam artist. The fund the bought into was delivering high-single-digit returns, which was well below some of the outrageous returns other investments were delivering at the time.
Here is one of my friends who is a professional speaker:
http://www.ted.com/talks/matt_weinstein_what_bernie_madoff_couldn_t_ st eal_from_me.html
 
2014-01-22 11:11:59 PM  

MattyFridays: Here's some of my citations:http://en.wikipedia.org/wiki/List_of_investors_in_Bernard_L. _Madoff_ Se curities



You may have noticed that many of those were banks, funds, and investor groups? That would be the blue-collar folks he screwed. Those organizations money is invested on behalf of thousands and even millions of middle class types.
 
2014-01-22 11:13:59 PM  

linda7900: The way he describes Madoff was that he was synonymous with "bank" the way facial tissue = Kleenex, photo copier = Xerox, etc. It was always considered a safe, secure, very low-risk investment, and he fleeced so many regular people. People would pool their money to be able to buy into his fund because there was a minimum that these people could not reach alone. It was horrible to see the lists of charities that he scammed out of their endowments, families who invested and lost their hard-earned retirement money, etc


This is exactly the type of thing I asked about. There were many many other people they could have invested with. Why Madoff? Was it his line of bullsh*t? Was it the returns he was supposedly getting for others? Didn't these people compare his stated returns to other investment people before they decided to give him their money?
No one deserves what happened to them because of Madoff... but I am curious as to how it did happen from the investors perspective. Why did they do it?
 
2014-01-22 11:15:35 PM  

rewind2846: As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?

/yeah, no sympathy here either


fwiw?
one of the losers told me this: "I had done well, had enough to retire on and to invest. You have to be so careful and, well, when someone you know and trust already suggests an investment (and they are doing well with it) it seems logical."

the word "lemming" came to mind at the time
 
2014-01-22 11:22:05 PM  

TV's Vinnie: A lot of people rage at Bernie Madoff, but let's remember the facts here; he ripped off only rich people who wanted to get even richer and not have to pay any taxes.

IMO, the greedy selfish suckers got what they deserved.



Oh wow, that's not true at all. Sure, a lot of rich people invested with him, but he also took a lot of money from people who had saved their whole lives and planned to live off the earnings. He robbed charitable/philanthropic foundations that help buttloads of people around the world. He robbed Steven Spielberg's "Wunderkinder Foundation" charity. He robbed Kevin Bacon and John Malkovich.

I don't care why do you hate Kevin Bacon and John Malkovich. You're a monster.
 
gja
2014-01-22 11:22:17 PM  

TV's Vinnie: A lot of people rage at Bernie Madoff, but let's remember the facts here; he ripped off only rich people who wanted to get even richer and not have to pay any taxes.

IMO, the greedy selfish suckers got what they deserved.


Well, that shows how blindingly ignorant of the facts you are.
I saw a small money management company full of hard working folks go belly up because they had used his funds as an investment vehicle.
When the crap hit the fan they had to pay back because of their contractual agreements. And they fell way short of covering it.
So they went bust. And 60 people, just regular working folks, lost their jobs and plenty of their own money.

He hurt and ruined a lot of good un-greedy folks as well.

Karma. It'll get you in the end. He tests my christianity and human kindness. I won't shed a tear if he suffers for what he did.
Can't bring myself to wish cancer on him as that's what took my mother, but dear Jesus he gets as close as anyone ever has to getting me there.
 
2014-01-22 11:26:36 PM  

rewind2846: linda7900: The way he describes Madoff was that he was synonymous with "bank" the way facial tissue = Kleenex, photo copier = Xerox, etc. It was always considered a safe, secure, very low-risk investment, and he fleeced so many regular people. People would pool their money to be able to buy into his fund because there was a minimum that these people could not reach alone. It was horrible to see the lists of charities that he scammed out of their endowments, families who invested and lost their hard-earned retirement money, etc

This is exactly the type of thing I asked about. There were many many other people they could have invested with. Why Madoff? Was it his line of bullsh*t? Was it the returns he was supposedly getting for others? Didn't these people compare his stated returns to other investment people before they decided to give him their money?
No one deserves what happened to them because of Madoff... but I am curious as to how it did happen from the investors perspective. Why did they do it?


Sure- he was an excellent salesman and an amazing liar, but he had an impeccable pedigree.  Ex-chairman of the Nasdaq, he even fleeced the SEC for a long time. Per my other post, he was delivering high-single digit returns, which were much less aggressive than a lot of other investments at the time.

The Ted Talk I posted is only 8 minutes of an hour-long talk. I wish I could find the longer talk where Matt explains how he and other people he knew were fleeced by Madoff. They all thought it was a super-safe, conservative investment. They felt lucky to be able to invest with Madoff, as it was so hard to buy in, but it was delivering good, consistent returns. They were sold an incredible line of BS from a master, and the exclusivity and perceived pedigree and safety of the investment is what kept the facade going. I'm sorry I can't get you more details, it's been a few years.
 
2014-01-22 11:26:54 PM  

rewind2846: linda7900: The way he describes Madoff was that he was synonymous with "bank" the way facial tissue = Kleenex, photo copier = Xerox, etc. It was always considered a safe, secure, very low-risk investment, and he fleeced so many regular people. People would pool their money to be able to buy into his fund because there was a minimum that these people could not reach alone. It was horrible to see the lists of charities that he scammed out of their endowments, families who invested and lost their hard-earned retirement money, etc

This is exactly the type of thing I asked about. There were many many other people they could have invested with. Why Madoff? Was it his line of bullsh*t? Was it the returns he was supposedly getting for others? Didn't these people compare his stated returns to other investment people before they decided to give him their money?
No one deserves what happened to them because of Madoff... but I am curious as to how it did happen from the investors perspective. Why did they do it?


The funny thing is, a "bank" is a "bank".  If you want safe stable returns on your money, you put them into bonds or certified low-risk investments.  Due diligence was not made by several parties.  Again: Madoff was charismatic as shiat and had good marketing, two excellent tools for pulling off a scamm.

A bank is not a way to earn money, a bank is a way to keep money safe.  Madoff promised higher than normal returns but not Nigerian Prince returns.  That's another reason why it was such an insidious con: He flew high but RIGHT UNDER the radar.
 
2014-01-22 11:27:31 PM  
Just stick him in general pop. Rapey rapey time for Bernie...
/See, this is why I believe in Hell. So I know that Bernie's gonna have his genitals seared in molten gold forever and ever and ever.
Good riddance.
 
2014-01-22 11:32:07 PM  

Richard C Stanford: Just stick him in general pop. Rapey rapey time for Bernie...
/See, this is why I believe in Hell. So I know that Bernie's gonna have his genitals seared in molten gold forever and ever and ever.
Good riddance.


You are a moron.  Wanna know why?  Never mind the fact you're advocating sexual assault (which really pisses me off about people like you) but a lot of the other prisoners LOOK UP TO HIM LIKE A FARKING ROCK STAR.
 
2014-01-22 11:33:03 PM  
Hey, everyone, unlike Madoff

www.dvdizzy.com

we're all gonna get laid!!

/well, some of us
//not you, though
 
2014-01-22 11:41:09 PM  

MattyFridays: Richard C Stanford: Just stick him in general pop. Rapey rapey time for Bernie...
/See, this is why I believe in Hell. So I know that Bernie's gonna have his genitals seared in molten gold forever and ever and ever.
Good riddance.

You are a moron.  Wanna know why?  Never mind the fact you're advocating sexual assault (which really pisses me off about people like you) but a lot of the other prisoners LOOK UP TO HIM LIKE A FARKING ROCK STAR.


Wait really? People look up to this asshole? Really!?
 
2014-01-22 11:45:34 PM  

That Guy Jeff: TedCruz'sCrazyDad: Bizarre his son also has renal cancer.

That sounds environmental.

... a father and son both have the same disease and you think "environmental"? Really? Cause the first thing that pops into my head is "genetic".




Genetic is a fairly rare cause.

Now Phenacetin was also found have the potential for causing renal cancer and it was not withdrawn from the market until the 80's.
 
2014-01-22 11:48:32 PM  
It's The Daily Fail so I have my doubts.  Either way, I don't care.
 
2014-01-22 11:55:02 PM  

one of Ripley's Bad Guys: too bad it wasn't this greedy sociopath

[encrypted-tbn3.gstatic.com image 214x235]


I just realized that as a 1%er he could afford better than a crappy combover.
 
2014-01-23 12:01:43 AM  
More info for those of you who refuse to believe that common folk were swindled - by someone who had been checked out by the SEC several times (his books we so cooked they could not find flaws) and who was delivering statements with the SIPC logo making it look like all investments were insured up to $500k (another lie). I don't know about you, but once I find a fund that the SEC has said is OK and that is SIPC insured, I feel pretty safe.

http://www.amazon.com/gp/product/0982250932/ref=cm_sw_r_fa_dp

\
 
2014-01-23 12:04:37 AM  

AverageAmericanGuy: You buy my video. 100% guarantee if you not happy and rich after 30 days. You see how you can become happy and rich like me. Then you understand this not a scam.


Ahh Tom Vu I miss his infomercials. Funny enough he plays poker these days.
 
2014-01-23 12:12:04 AM  

linda7900: They felt lucky to be able to invest with Madoff, as it was so hard to buy in, but it was delivering good, consistent returns. They were sold an incredible line of BS from a master, and the exclusivity and perceived pedigree and safety of the investment is what kept the facade going. I'm sorry I can't get you more details, it's been a few years.


I wish you could find it too, because I have a difficult time believing that these investors could think that such "good consistent returns" would have been possible over such a long time with the volatility that's been happening in the markets and the economy over the past 20+ years. It's like having a glass of wine filled to the rim on a table on a rolling ship in a hurricane that never spills a single drop. The physics don't add up.

/maybe it's because I naturally trust no one
//especially with my money
///NO ONE
 
2014-01-23 12:19:41 AM  

rewind2846: linda7900: They felt lucky to be able to invest with Madoff, as it was so hard to buy in, but it was delivering good, consistent returns. They were sold an incredible line of BS from a master, and the exclusivity and perceived pedigree and safety of the investment is what kept the facade going. I'm sorry I can't get you more details, it's been a few years.

I wish you could find it too, because I have a difficult time believing that these investors could think that such "good consistent returns" would have been possible over such a long time with the volatility that's been happening in the markets and the economy over the past 20+ years. It's like having a glass of wine filled to the rim on a table on a rolling ship in a hurricane that never spills a single drop. The physics don't add up.

/maybe it's because I naturally trust no one
//especially with my money
///NO ONE


Keep in mind- he had been doing this for *40 years*, and had been well-vetted. In the crowd he was in, he had like Warren Buffet Credibility... if you got offered a chance to invest with Buffet tomorrow, how much more vetting would you need to do? He came with a pedigree and a LONG successful history. I'm just making the point that he was so good at his lie that you could not find a weakness until it all came down, he had such incredible books, statements, records, and infallibility supporting him. Granted, some people did not do their homework and were lemmings as some have said. However others did their homework and were given incredibly convincing falsified documents.

I'm remembering stuff from a few years ago, so I'm sorry I don't have better details. However, I do remember Matt saying that the statements they got were very detailed each quarter, and that the net average return was something like 9% over time, with ups and downs, and that nothing seemed out of the ordinary or questionable at all.
 
2014-01-23 12:23:10 AM  

linda7900: Keep in mind- he had been doing this for *40 years*, and had been well-vetted. In the crowd he was in, he had like Warren Buffet Credibility... if you got offered a chance to invest with Buffet tomorrow, how much more vetting would you need to do? He came with a pedigree and a LONG successful history. I'm just making the point that he was so good at his lie that you could not find a weakness until it all came down, he had such incredible books, statements, records, and infallibility supporting him. Granted, some people did not do their homework and were lemmings as some have said. However others did their homework and were given incredibly convincing falsified documents.



Yeah this was the financial sector equivalent of finding out your favorite Presidential candidate is a kiddy diddler. It was almost inconceivable to those in the business.
 
2014-01-23 12:42:19 AM  

Boojum2k: linda7900: Keep in mind- he had been doing this for *40 years*, and had been well-vetted. In the crowd he was in, he had like Warren Buffet Credibility... if you got offered a chance to invest with Buffet tomorrow, how much more vetting would you need to do? He came with a pedigree and a LONG successful history. I'm just making the point that he was so good at his lie that you could not find a weakness until it all came down, he had such incredible books, statements, records, and infallibility supporting him. Granted, some people did not do their homework and were lemmings as some have said. However others did their homework and were given incredibly convincing falsified documents.


Yeah this was the financial sector equivalent of finding out your favorite Presidential candidate is a kiddy diddler. It was almost inconceivable to those in the business.


so back to clinton?
 
2014-01-23 12:46:34 AM  

Popular Opinion: so back to clinton?



Pretty sure he only diddled legal-age women.
 
2014-01-23 12:50:02 AM  

That Guy Jeff: all he took was possessions


"Do you understand what I'm saying?"shouted Moist. "You can't just go around killing people!"

"Why Not? You Do." The golem lowered his arm.

"What?" snapped Moist. "I do not! Who told you that?"

"I Worked It Out. You Have Killed Two Point Three Three Eight People," said the golem calmly.

"I have never laid a finger on anyone in my life, Mr Pump. I may be--all the things you know I am, but I am not a killer! I have never so much as drawn a sword!"

"No, You Have Not. But You Have Stolen, Embezzled, Defrauded And Swindled Without Discrimination, Mr Lipvig. You Have Ruined Businesses And Destroyed Jobs. When Banks Fail, It Is Seldom Bankers Who Starve. Your Actions Have Taken Money From Those Who Had Little Enough To Begin With. In A Myriad Small Ways You Have Hastened The Deaths Of Many. You Do Not Know Them. You Did Not See Them Bleed. But You Snatched Bread From Their Mouths And Tore Clothes From Their Backs. For Sport, Mr Lipvig. For Sport. For The Joy Of The Game."
 
2014-01-23 12:51:35 AM  

Boojum2k: Popular Opinion: so back to clinton?


Pretty sure he only diddled legal-age women.


immoral is immoral, but that is just my opinion.

/perhaps not the popular opinion.
 
2014-01-23 12:52:03 AM  

That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?


Hey, he got cancer. We didn't give it to him.

rewind2846: Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?
The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?


I heard a story on This American Life about two investors. One was getting crazy returns on his investments and told his friend to get in on it--I think it was his father. His father didn't trust the numbers, even though he knew several people who were invested with Madoff and they all loved the guy. He passed, and he also told his son to pull his money out, it was just too good to be true. The son really didn't want to do it, because he was making so much money, but he did eventually. So they were both safe before the whole thing fell apart. The son had made a ton of money, and It was kind of stolen money, but he didn't care. The father who had not invested was just glad that he hadn't been taken in--but other friends of his had lost everything. The father was incredulous that so many people had been taken in by Madoff, very smart people who should know better. But they were just blinded by greed and....peer pressure? Something like that. They all wanted to get on the Madoff bandwagon.
 
2014-01-23 12:58:39 AM  
Dude deserves stage 5 cancer
 
2014-01-23 01:01:34 AM  

ThatDarkFellow: Dude deserves stage 5 cancer



No one deserves cancer. But Madoff might deserve Ebola.
 
2014-01-23 01:07:52 AM  
Nope. Not seeing a problem here. Deprive him of morphine and tape his screams. I'd pay $7.99 (plus shipping and handling) for that album.
 
2014-01-23 01:09:46 AM  

Boojum2k: ThatDarkFellow: Dude deserves stage 5 cancer


No one deserves cancer. But Madoff might deserve Ebola.


Ew, Madoff soup in a bag.
 
2014-01-23 01:25:52 AM  

MattyFridays: Richard C Stanford: Just stick him in general pop. Rapey rapey time for Bernie...
/See, this is why I believe in Hell. So I know that Bernie's gonna have his genitals seared in molten gold forever and ever and ever.
Good riddance.

You are a moron.  Wanna know why?  Never mind the fact you're advocating sexual assault (which really pisses me off about people like you) but a lot of the other prisoners LOOK UP TO HIM LIKE A FARKING ROCK STAR.


*favorited!.*

Buh-bye, guy.
 
2014-01-23 01:27:44 AM  

Boojum2k: ThatDarkFellow: Dude deserves stage 5 cancer


No one deserves cancer. But Madoff might deserve Ebola.


Whoah whoah whoah, what's Ebola ever done to YOU?
 
2014-01-23 01:29:27 AM  

Smirky the Wonder Chimp: Whoah whoah whoah, what's Ebola ever done to YOU?



Killed my dog. Long story.
 
2014-01-23 01:38:17 AM  

Another Government Employee: For the audacity and nerve Madoff has, there is still one thing that bugs me.  The only reason he does hard time is he scammed the 1%.  All those other bozos who scam us laugh from their yachts.


He didn't just scam the 1%.  He scammed the 10%.  Also, protest WallStreet should have been more about protesting the .01% or so.

MattyFridays: 65 billion dollar fraud, 4,800 investors, and half of them didn't lose money, disregarding the fictitious profits.

You are confusing Madoff with things like Enron, where that actually was middle class victims. You don't get to invest with someone like Madoff unless you have a shiat ton of money to begin with.



$65B only on paper, $18B lost.  He had at least 13.5k accounts, and that number isn't listing 3 firms worth of individual investers.  Many were perhaps 'Well heeled', but there were an awful lot of individuals that put their life savings into his scheme.  Remember that advice today is that for a 'middle class' retirement today you 'need' around a million in the bank(provides roughly $50k/year inflation adjusted) for a comfortable retirement.

If you 'only' have a few hundred thousand, wouldn't you go for a 'safe' investment?  As others noted, Bernie was noted for good consistent returns, not insanely high ones.

Then you get into that some of the accounts were for pension funds, trade union retirement accounts, etc...

rewind2846: Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

The axiom "If something looks too good to be true, it probably is" comes foremost to my mind. Didn't it pop up in anyone else's?



It did; those people didn't invest in him.  He was subject to some investigations over it long before the mess finally popped.  However, most ponzi frauds of this nature show returns above 20%, his only averaged 10%.  During the worst of the downturn he only presented profits of under 5% - when markets were losing 30%.  You have to remember that even during the worst of the downturn there were still climbing companies, funds, so it was really easy to simply think that Madoff was very, very good at his job(or incredibly lucky).

rewind2846: This is exactly the type of thing I asked about. There were many many other people they could have invested with. Why Madoff? Was it his line of bullsh*t? Was it the returns he was supposedly getting for others? Didn't these people compare his stated returns to other investment people before they decided to give him their money?
No one deserves what happened to them because of Madoff... but I am curious as to how it did happen from the investors perspective. Why did they do it?



Read the wikis.  It's called an 'Affinity scam', he sold a line via a golden tongue 'Hey, I'm Jewish, You're Jewish, we have to stick together, you can trust me'.
 
2014-01-23 01:46:50 AM  

TheGreatGazoo: Well, it isn't ass cancer.

But I'm sure prison cancer treatment isn't fun.


They can pretend it's ass cancer and try to help him by grinding it out with a dirty and rusty 2" drill bit.
 
2014-01-23 01:53:48 AM  

Firethorn: Read the wikis.  It's called an 'Affinity scam', he sold a line via a golden tongue 'Hey, I'm Jewish, You're Jewish, we have to stick together, you can trust me'.


yeah, I don't think it was really mentioned in the This American Life episode, but you could tell--those people were all Jewish.
 
2014-01-23 02:10:24 AM  
I might be called a terrible person for saying this, but I can't think of a more deserving SOB douche nozzle like Bernie Madoff.
 
2014-01-23 03:23:38 AM  
Congratulations! I couldn't of happened to more worthy guy. I hope he has many days to enjoy the constant pain and the knowledge his death is imminent.
 
2014-01-23 03:26:55 AM  
Great!   Now start kicking him in the head and balls, someone get the jock itch ready for his armpits!
 
2014-01-23 03:53:24 AM  

That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?


Depends on how much you steal.

My wallet? Meh.
My entire retirement and literally a significant percentage of my life's time?

Now multiply that by thousands. A certain level of stealing approaches a value on par with taking lives, and could even directly translate not into the victims owning less toys or skipping a few dinners out, but failing to afford healthcare.
 
2014-01-23 04:09:40 AM  

Prophet of Loss: Congratulations! I couldn't of

HAVE happened to A more worthy guy. I hope he has many days to enjoy the constant pain and the knowledge his death is imminent.

FTFY

Also, if you want him to have MANY DAYS. How imminent can his death be? You can't have both.
 
2014-01-23 05:26:07 AM  
He actually stole very little of the money. Most of it went to his early investors, who did very well indeed out of the scheme. How many of them have offered to pay back their ill-gotten gains?
 
2014-01-23 05:46:16 AM  
I believe bernie madoff became the fall guy or was pointed to as the mastermind. But I still think he pissed off his cronies and someone fed him to the wolves.


/Conspiracy theorists to the end.
 
2014-01-23 05:51:23 AM  
Tho, sadly, the head of Social Security is still in good health.
 
2014-01-23 06:29:11 AM  
This was his plan, he'd take the fall and die in prison and his family would be left alone.
Check his son's offshore accounts
 
2014-01-23 06:47:09 AM  

rewind2846: As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?


Yes. They knew. And they didn't care. They were too greedy, they just looked the other way and thought they could cash out before the other suckers would.

You have to keep in mind that it wasn't just honest people and pensions and investors putting money into his fund. He had organized crime syndicates and Russian blood money and other unsavory capital pouring into it as well. Because the returns were so great and he was evading regulation and oversight so it was a good place to hide/launder money. So he probably couldn't shut it off even if he wanted to. He knew he was in over his head probably a few years into operation, and kept it going out of fear for his own life and safety, as well as his family's.

Remember that it wasn't some big secret. This guy knew about it since its very inception

www.examiner.com

And he warned the SEC about it for EIGHT YEARS. He filed dozens of reports: BIG PONZI SCHEME. VERY BAD. SHUT IT DOWN. And the SEC did nothing. Ignored it because they were Bush croneys and they were paid to look the other way. And some of them probably had money in it as well.

Greed corrupted everything. This is the result.

/that guy above, btw, is Harry Markopolos. He was the Lieutenant Gordon of this shiat, the last honest man in finance. Here's his congressional hearing. Well worth it to watch the full thing.
 
2014-01-23 07:22:35 AM  

TV's Vinnie: A lot of people rage at Bernie Madoff, but let's remember the facts here; he ripped off only rich people who wanted to get even richer and not have to pay any taxes.

IMO, the greedy selfish suckers got what they deserved.


You have no idea what happened.
 
2014-01-23 07:25:14 AM  

viscountalpha: I believe bernie madoff became the fall guy or was pointed to as the mastermind. But I still think he pissed off his cronies and someone fed him to the wolves.


/Conspiracy theorists to the end.


Ponzi schemes always collapse, eventually.  Kind of like the "housing bubble" a few years back.  One of the signatures of a scam and indicators of a Ponzi scheme is the phrase "too big to fail".  2008 was the first time I ever heard that term used by "legitimate" financial people.
 
2014-01-23 07:52:35 AM  

linda7900: once I find a fund that the SEC has said is OK and that is SIPC insured


In what unholy dimension is the SEC or insurance even remotely credible?

linda7900: In the crowd he was in, he had like Warren Buffet Credibility... if you got offered a chance to invest with Buffet tomorrow, how much more vetting would you need to do?


A lot.  Warren Buffet is good at what he does, but what he does is make Warren Buffet rich.  The guy is not out to make other people rich.  The first rule of Wall Street is that no one is your friend.

I guess I get what you're saying, but "nobody could've predicted" is an excuse I hear a lot.  A LOT.  When my mother asked me about investment advice around 2005-06 I did some basic research, saw ridiculously unsustainable numbers and told her to stay the fark out and focus on paying off her debts.  2-3 years later the market crashed.  And guess what everybody said?  "Nobody could've predicted. . ."  I'm not some genius of finance; I honestly didn't know how the market was doing when she first asked so I poked around and it didn't me long to get a very bad vibe.  No one listens (well except maybe my mom, whose life savings were spared), and when I say "I told you so" everyone refuses to believe I said because they'd rather lose everything than learn.  Cassandra's Curse is a biatch.

I guess being a social outcast all my life I'm relatively inoculated from bandwagons but the excuses are getting ridiculous.  I see it as people not wanting to admit they were foolish.  Oh no, it's not like I got sucked onto the bandwagon because my brain was turned off; NOBODY could've predicted. . . !
 
2014-01-23 08:25:15 AM  
Great headline subby.
Yeah, fark Bernie Madoff.
 
2014-01-23 08:28:15 AM  
greed
don't pretend it was anything else.
B-B-but the little guy...
yup, him too

that said, hooray cancer!
(I don't get to say that very often)
 
2014-01-23 08:37:33 AM  

The My Little Pony Killer: That Guy Jeff: What's that thing people say whenever someone gets shot while stealing... oh yes, "possessions aren't worth a human life". So we should all feel bad cause all he took was possessions, and this is a human life we are talking about, right?

Your television =/= some old person's pension.

/had me laughing near the end though, so I'll give you 8/10 for this one



When someone breaks into your home and steals your things it makes it difficult to ever really feel safe in your home again as you know how easily it is then for someone to just come in and take/destroy everything you have.

And plenty of people have had heirlooms stolen because it could be sold to a pawnshop for some drugs.

Which makes the people that do break into homes to steal things seem pretty awful as they are destroying someone's peace of mind and possibly taking from that person plenty of irreplaceable things.

So you could say: Losing ability to feel safe at night != some old person's money

Doesn't mean both aren't pretty awful things to lose due to someone stealing from you.
 
2014-01-23 08:44:23 AM  

rewind2846: linda7900: They felt lucky to be able to invest with Madoff, as it was so hard to buy in, but it was delivering good, consistent returns. They were sold an incredible line of BS from a master, and the exclusivity and perceived pedigree and safety of the investment is what kept the facade going. I'm sorry I can't get you more details, it's been a few years.

I wish you could find it too, because I have a difficult time believing that these investors could think that such "good consistent returns" would have been possible over such a long time with the volatility that's been happening in the markets and the economy over the past 20+ years. It's like having a glass of wine filled to the rim on a table on a rolling ship in a hurricane that never spills a single drop. The physics don't add up.

/maybe it's because I naturally trust no one
//especially with my money
///NO ONE


Madoff made sure all the all the documents for his investors showed low returns. It was kept low enough that people would just think he was just working his magic to be able to keep making such money, and the consistency is what really enticed everyone. Since that was really what seemed so incredible, it wasn't people making some huge fortunes by investing with him, it was that he was making it look like his investors were making "consistent" returns. He also made it fairly difficult to ever invest with him, which helped with the whole facade that he was just so incredible because of his grand financial skills that he didn't really have time to just be taking anyone's money.

He would really just deal with people that were referred to him by a guy that knew a guy so it seemed like this really exclusive thing that people wanted to get in on, similar to how Facebook initially did the nonsense about only letting certain college kids sign up for their site, and then gradually let more and more people on by playing on that initial sense of exclusivity from using their site.
 
2014-01-23 09:21:01 AM  
www.angryflower.com
 
2014-01-23 10:20:08 AM  
Couldn't have happened to a nicer guy
 
2014-01-23 10:28:34 AM  
Not a tear is shed, and nothing of value is lost.
 
2014-01-23 10:33:48 AM  

Ishkur: rewind2846: As much an asshole as Madoff is (and probably his kids too), I have yet to get the answer to one question: I have watched interviews with some of the people who invested their money with him, and the one thing I did not see was a recognition that the "returns" they were supposedly getting from Madoff were well above the average for investments of that type and at that time. Totally off the charts. Mad stupid money. Big ducats. Crazy dollars.

Didn't anyone ever ask why that was, or were their eyes clouded with so much greed that they simply couldn't see that he was screwing them royally? And did that greed make them at least partially culpable in this whole mess?

Yes. They knew. And they didn't care. They were too greedy, they just looked the other way and thought they could cash out before the other suckers would.

You have to keep in mind that it wasn't just honest people and pensions and investors putting money into his fund. He had organized crime syndicates and Russian blood money and other unsavory capital pouring into it as well. Because the returns were so great and he was evading regulation and oversight so it was a good place to hide/launder money. So he probably couldn't shut it off even if he wanted to. He knew he was in over his head probably a few years into operation, and kept it going out of fear for his own life and safety, as well as his family's.

Remember that it wasn't some big secret. This guy knew about it since its very inception

[www.examiner.com image 373x512]

And he warned the SEC about it for EIGHT YEARS. He filed dozens of reports: BIG PONZI SCHEME. VERY BAD. SHUT IT DOWN. And the SEC did nothing. Ignored it because they were Bush croneys and they were paid to look the other way. And some of them probably had money in it as well.

Greed corrupted everything. This is the result.

/that guy above, btw, is Harry Markopolos. He was the Lieutenant Gordon of this shiat, the last honest man in finance. Here's his congressional he ...


To be fair, even in the CNBC documentary, the kids (supposedly) turned on Madoff when they found out, and did end up contributing a ton of evidence to the investigation. IDK whether or not they really turned as soon as they knew, or once they thought the heat was coming, but without evidence they helped gather, the prosecution would have been much more difficult.
 
2014-01-23 11:16:49 AM  

orbister: He actually stole very little of the money. Most of it went to his early investors, who did very well indeed out of the scheme. How many of them have offered to pay back their ill-gotten gains?


Several have *had* to. I refer you to the Mets...
 
2014-01-23 11:23:53 AM  
www.boomantribune.com

I wonder if cancer found this crook yet??
 
2014-01-23 11:47:01 AM  

Four Horsemen of the Domestic Dispute: [www.boomantribune.com image 342x258]

I wonder if cancer found this crook yet??


If there's anyone who I want to see DIAF more than Lloyd Blankfein, it's this jowly sack of sh*t.
 
2014-01-23 01:03:25 PM  
To paraphrase a classic quote:  "I've never wished a man dead, but I will read his obituary with great pleasure."

/fark him
 
2014-01-23 01:17:29 PM  
Don't care who he is or what he did.  It wasn't bad enough to deserve cancer.  Money can be re-earned end things can be replaced.  A human life cannot.
 
2014-01-23 01:19:02 PM  

Jurodan: I worry that this is building towards a review for compassionate release. I hope not. I hope he dies in prison, alone and unloved. He deserves no less for the lives he ruined with his thievery.

/He deserves quite a bit more actually


Came to say this.  Sorry you have cancer, but you lived the good part of your life on the backs of the people you farked. Lights out in 10.
 
2014-01-23 01:47:21 PM  

chrisco123: Money can be re-earned end things can be replaced.



It's a good thing people have infinite lifespans to do so, and don't get old or sick or anything.
 
2014-01-23 02:02:03 PM  

chrisco123: Don't care who he is or what he did.  It wasn't bad enough to deserve cancer.  Money can be re-earned end things can be replaced.  A human life cannot.


Right, tell that to the people whose money went up in smoke thanks to this guy.  Word of warning:  don't expect sympathy from them over his plight.
 
2014-01-23 03:23:45 PM  
t4.imagechef.com
 
2014-01-23 03:34:35 PM  
http://www.youtube.com/watch?v=p1a3LahlPzs

For those who dont remember what he did.
 
2014-01-23 04:24:42 PM  
I think colon cancer woulda been more appropriate for this arsehole.
 
gja
2014-01-23 10:00:18 PM  

kling_klang_bed: I think colon cancer woulda been more appropriate for this arsehole.


He should suffer like Ebert, only I would say throw in a side order of aggressive metastatic melanoma.
 
2014-01-23 11:04:04 PM  

TheGreatGazoo: Well, it isn't ass cancer.

But I'm sure prison cancer treatment isn't fun.


Came for the ass cancer, staying for the cock rot.

There's not many people I'd wish that on, but I'm prepared to make an exception here. I only hope it lasts a long time and the opiates do nothing.
 
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