Madoff sentencing

[JimmyTwoTimes37]

He got 150 years in jail today...Can't say i'm surprised.

http://www.nydailynews.com/money/2009/06/29/2009-06-29_madoff_gets_max.html

Looks like they are going to use fed money to bail out some of his investors

[GuyFawkes38]

Looks like they are going to use fed money to bail out some of his investors

That doesn't quite seem fair.

But Tracey Jones has a saying called the "Golden Rule": "Those with all of the gold make the rules".

Most of those who lost money are still rich and well connected, unlike Enron employees.

[Runningman]

Most of those who lost money are still rich and well connected, unlike Enron employees.

Not only that but they knowingly invested in Madoff's system. Granted they did not know the fraudulent nature of the investment but they knowingly invested in the man. In my opinion, that judgement of character is just as important as the investment itself. You aren't going to trust a significant sum to a hedge fund manager who's success is a mystery.

[GuyFawkes38]

the crazy thing about the whole Madoff thing is that he wasn't a spectacular money maker.

From what I've heard, he earned his investors 1 or 2 percentage points higher than your average money market fund. I know that adds up to lot in the long run. But still...

I feel sort of stressed with my Vanguard money market fund. Vangaurd is a reputable institution. But giving it to some guy in Boca Raton, for only marginally higher returns, seems like it should have raised flags.

[GoMuskies]

This m'fer is going to live to be 250 just to stick it to all of us.

[XUglow]

Stanford crapped in his pants when he heard the sentence.

[XU 87]

the crazy thing about the whole Madoff thing is that he wasn't a spectacular money maker.

From what I've heard, he earned his investors 1 or 2 percentage points higher than your average money market fund. I know that adds up to lot in the long run. But still...



While I'm not sure about this, I thought Madofff was "making" positive returns even when the market was going south during the market crash in the early milennium.

I think his motto was that he could make money when the market goes up, he could make money when the market goes down, but he couldn't make money when the market does nothing.

But I'd still like an explanation as to how he ran this elaborate fraud, with multiple transactions that never in fact occurred, without anyone else knowing about it. Didn't anyone else in his company ever wonder, "That's strange. He discloses to his clients all these trades he made, but we haven't made a trade in 6 years."

[Masterofreality]

Stanford crapped in his pants when he heard the sentence.

How about Vijay Singh offering to pay for Stanford's bail?

Vijay still wears Stanford's logo on his golf shirt. Maybe time for a new promo, huh?

http://www.titleist.com/images/pressreleases/VijaySingh080408.jpg

[XUglow]

How about Vijay Singh offering to pay for Stanford's bail?

Vijay still wears Stanford's logo on his golf shirt. Maybe time for a new promo, huh?

http://www.titleist.com/images/pressreleases/VijaySingh080408.jpg

Vijay skipped Memphis this year because of his Stanford commitment. He wanted to play, but the Memphis people told him it would be best if he not wear the Stanford garb because of all of the money Stanford had cost the tournment and area. Vijay said that he would wear it if he came. They told him again it was a bad idea. He decided not to come and took the week off.

I have a lot of nice golf stuff with "Stanford" on it that I received from playing in the pro-ams at Southwind every year. I had to put it up for the same reason. That Laura Perdergest-Holt gal and her CFO boss, James Davis, worked out of the local Stanford office here in Tupelo. The 2 of them put the squeeze on me at a couple of local functions, but fortunately, I resisted their pitch. Same can't be said for many of my golfing buddies.

http://www.folo.us/wp-content/uploads/2009/02/pendergestholt.jpg