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Ponzi

Madoff to Plead Guilty

Bernard Madoff
Louis Lanzano / AP Photo

Bernard Madoff’s scheming began over 20 years ago. It ends today, with the financial conman expected to plead guilty to all criminal charges against him. It came to light this week that Madoff sustained the scheme by creating false and fraudulent documents and moving millions of dollars between banks to create an illusion of trading. The 11 felonies against him include securities fraud, money laundering, and perjury. He faces up to 150 years.

Posted at 6:19 AM, Mar 11, 2009
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Comments ()

Antinous

The losers in this debacle have to assume some of the blame for their losses. They all thought they were part of a privileged group that got results above the ruck. I have no sympathy for them. And will you believe some want the taxpayer to make them whole! Outrageous. But you can bet they will be hard at work on our pliable congressmen to make it happen.

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7:58 am, Mar 11, 2009

missbike

Only 150 years? In a Federal prison at that- medium to low security I bet.

For Madoffs greedy investors to expect me to pay them back is just outrageous. I don't live the high life in Palm Beach! Screw those people.

Small investors who had money with other investors and banks- I feel for them but sue the fool who dumped the money in to that to good to be true mess. My life is plenty tough too- I farm in Katrina Land. Too small for corporate welfare, too rich for other relief. I take my lumps- time for the snotty ex rich to learn about Wal Mart!

Hey- I hope those Walton people got burned...

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9:12 am, Mar 11, 2009

jaguarxjs

And just like Enron, it will end here and no one will ever see the money again and Madoff's wife and children will live high off of his ill-gotten hog.

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9:20 am, Mar 11, 2009

pennsykid2000

I continue to be amazed that the former head of the Nasdaq essentially missed out on the greatest bull market in history by stealing and blowing billions when he could have made good returns with his eyes closed, earning hefty fees. True he wouldn't have attracted as much money with real returns versus his inflated fake returns, but his decision to put none of the money into the market reveals either an incredible crookedness or someone who really doesn't believe in markets (and yet ran one of the largest). It's like the Pope announcing he's been stealing billions from the Catholic church for decades and never believed in the church's charitable efforts.

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9:31 am, Mar 11, 2009

DWIGHTBAKER

SOME OF THE MORONIC WANT TO BE SEESAW YAW OF THE LAW ATTORNEYS
HAVE SAID
They would be guilty of fiduciary violations, which is a civil matter.
DON'T THINK SO
There is a body of Federal Law about fiduciary duties.

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10:21 am, Mar 11, 2009

DWIGHTBAKER

Timothy McVey

Remember Him? He was tried in Federal Court, as was Madcow, the DA in OKC didn't like the verdict so he was tried again in OKC District Court? HELLO LOL --- So what is the difference from then till now? Madcow can ----- get got -----but who is going to push the envelope to get it done? And all that missing money --- one said that Ms Madcow as his wife could keep it! Well maybe prosecutors on the East Coast might want to wake up and do their damn jobs. Who might be ---- behind the scenes, really calling the shots? Could it be a benefactor of the Madcow Empire that had been a squeaking wheel? And got greased from time to time.

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10:22 am, Mar 11, 2009

DWIGHTBAKER

POOR BERNIE MADCOW

Yes he finally got caught ---- so what???? Where is the money Bernie???? I have got a remedy for those that steal big bucks then have selective memory defaults. OK bud--- off to solitary confinement you go with bread and water as your fine meal ticket once a day ----till your memory gets far better than it is now or until your fines are paid that account right now to the tune of $35 billion.

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10:22 am, Mar 11, 2009

DWIGHTBAKER

PUT THE MADCOW AWAY---LESS HE INFECTS OTHERS
No need to revolt --- just demand that the LAW WORKS TO PERFECTION

There is now for the first time in the history of mankind and opportunity to settle disputes without bloodshed. We the American people have a way to take back all that has been stolen and bring our Great and Abundant America in clear focus again. We can re-institute our laws that the BUSH BUNCH OF DESPOTS took away in the stroke of a paper mate pen and be back on the road where the RULE OF LAW is not only to be respected but also FEARED. Many lawyers are crooks------- LOL----- they learned how to practice the SEE SAW YAW of the LAW so go figure why we are in such a deep ditch we only can pull our selves out.
BEAT THE DESPOTS AT THEIR OWN GAME.

THE VOICES OF WE THE PEOPLES LOBBY ----- the WTPL

We need your help. We want to replicate what the Grange ---- did way back when---- that has been so successful in many ways for our Democracy.

We need to be associated with others that have plowed that ground before and none is better at that than the Grange. We are in the first birth pangs of getting this huge job under way and we will get there and soon.

FOLLOWING ARE SOME OF THE MATTERS OF MOST IMPORTANCE THAT WE SEE NEEDS ATTENTION

We are about 3 to 5 million strong ---- those of us that helped elect Barack Obama---- many of us were not red or blue but intelligent folks that knew we needed to get saving our Nation.

We have no other agenda than as advocates for the vast majority of Americans. And we know that we must have a POWER PACKED IMPACT in Washington DC or not much at all with happen towards our work to bring equity and normalcy back into our sane and sanguine American Culture.

We are apolitical and not out to publish any kind of religious agenda or any kind of radical change to our Democracy. What we are out to do is from a public funded ADVOCATE LOBBY with long and strong tentacles to help POWER PACKED PUSH or sway many in CONGRESS to work the work that is most needed in America today. And above all obey the wishes of the people and enforce the laws in our Constitution.

For a look see then maybe JOIN IN contact Dwight Baker dbaker007@stx.rr.com

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10:23 am, Mar 11, 2009

DWIGHTBAKER

MANY MORE THAN NOT

Try to follow the lead of the guy who has the biggest wallet. WHY? I think they see in them a kind of KING like image ---- GOD FORBID if you are of that mindset. Then some might asks who should one look up to? Maybe this man --------his words and deeds are good for us today as when he pinned them to build a fire in us to take back and repossess our Great and Abundant America.

FAMOUS QUOTES BY FREDRICK DOUGLAS 1818 ----- 1885

America is false to the past, false to the present, and solemnly binds herself to be false to the future.

At a time like this, a scorching iron, not convincing argument, is needed.

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong, which will be imposed on them.

I prefer to be true to myself, even at the hazard of incurring the ridicule of others, rather than to be false, and to incur my own abhorrence.

If there is no struggle, there is no progress.

It is easier to build strong children than to repair broken men.

It is not light that we need, but fire; it is not the gentle shower, but thunder. We need the storm, the whirlwind, and the earthquake.

No man can put a chain about the ankle of his fellow man without at last finding the other end fastened about his own neck.

Power concedes nothing without a demand. It never did and it never will.

The life of a nation is secure only while the nation is honest, truthful, and virtuous.

The limits of tyrants are prescribed by the endurance of those whom they oppose.

The thing worse than rebellion is the thing that causes rebellion.

To suppress free speech is a double wrong. It violates the rights of the hearer as well as those of the speaker.

Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe.

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10:32 am, Mar 11, 2009

societynow

i dont blame the guy, all of you were tempted by greed. the ability to get more. now all is lost. besides, you all willingly gave this guy your money & he took it. what did you expect?the guy to put your money in his piggy bank. exactly what he did!!!! bernie madoff with your money, meanwhile, you all are looking for someone to blame for this reapportion of wealth,/ recession... blame yourself..... wallstreet is legal currupt gambling. sometimes you win big, sometimes you lose big, chalk it up to the game.

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10:50 am, Mar 11, 2009

wahoomurf

I hope he lives another 40 years. I also hope the country club jail where will no doubt end up,does not allow vaseline or KY to be brought to the premises.Then he will get the same treatment he gave his investors.

Brenie Madoff.....the worst anti-semite since Ezra Pound.

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11:02 am, Mar 11, 2009

afisher

The special edition you sent out last night was the best reporting on Madoff I have read. The only question that remains (as raised by RMaddow), if he pleads guilty, does that mean he doesn't have to repay those he swindled?

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11:22 am, Mar 11, 2009

JD92840

Plea deal my A$$ !!!

The judge should reject any deal at all, give him a trial of his peers (those who invested with him) then lets see how many years he gets!

And right along with him should be his entire family, any employees and their families!

As for using taxpayer dollars to pay the investors back, NOT ON YOUR LIFE!

You chose the method to make a "quick buck" live with it!

As they say if it sounds to good to be true, THEN IT IS!

Throw the man and his family all in a HIGH SECURITY prison not club fed, and let him be bubba's bitch! Let him know what it's like to be screwed!

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4:49 pm, Mar 11, 2009
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