Gothamist: Financial Advisor's $50 Billion Ponzi Scheme

dopplerd

Sat, 13 Dec 2008 10:52:16 -0500

Regulation is costly. Deregulation is catastrophic. The Republican's experiment with deregulation has proven to be a GREAT success.

gilbertleighprestigemonkey

Sat, 13 Dec 2008 09:49:40 -0500

Hey Jen Chung, i think you mean that he was planning to surrender AFTER passing out some holiday goodies to friends and family, and the sons turned him in BEFORE that could happen. Well I can say this, he sure raised some decent kids!

nik13

Fri, 12 Dec 2008 22:16:26 -0500

He was Charlie Rangel's big & steady donor. Hillary got some cash too, while DNC made it like bandits off Madoff's munificence.

HughGass

Fri, 12 Dec 2008 21:49:58 -0500

That nigga owes me five dollars!

dooWOP

Fri, 12 Dec 2008 20:26:36 -0500

In any case, it would be sweet to see him in his retirement years at a federal pen and leave in a wooden casket...

dooWOP

Fri, 12 Dec 2008 20:23:40 -0500

Don't tell me he is another greedy scheming Irish shyster....?!

ANGRYGOD11

Fri, 12 Dec 2008 19:09:49 -0500

We all know ONE BILLION DOLLARS went for Doctor Evil's frickin laser.

felixthecat

Fri, 12 Dec 2008 18:33:54 -0500

They had a fake auditor http://buzz.yahoo.com/article/1:clusterstockc697:b1e839765d73e65af20339a171edd7df the money is in Israel,no doubt

longacre

Fri, 12 Dec 2008 17:06:34 -0500

It's not quite clear where all the money went, but it's pretty certain he didn't KEEP $50 billion. It seems he lost much of it in legitimate (bad) trades.

The Man Bat

Fri, 12 Dec 2008 16:57:19 -0500

I would've stopped at $100 Mill....but that's just me.

Gregoire

Fri, 12 Dec 2008 16:51:35 -0500

Yeah, I would totally have been fine at, say, $200 million.

The Man Bat

Fri, 12 Dec 2008 16:45:46 -0500

ONE BILLION DOLLARS....how can that possibly not be enough!?!?

Steven

Fri, 12 Dec 2008 16:43:31 -0500

When it comes to money there is always never enough to be made or be happy with.

JacqueMehoff

Fri, 12 Dec 2008 16:34:32 -0500

is he going to flee the country like that other hedge fund manager, living it up as a ski bum.

moocowtoo

Fri, 12 Dec 2008 16:34:22 -0500

I have a sudden urge to go out for Italian food tonight.

moocowtoo

Fri, 12 Dec 2008 16:33:44 -0500

Ponzi scheme FAIL!

fishfryin

Fri, 12 Dec 2008 16:33:40 -0500

chain this guy to one of those vehicle barriers downtown and let passersby have their way with him.

Jen Chung

Fri, 12 Dec 2008 16:29:16 -0500

I think Andrew Calamari's best friend could be Charlie Ravioli. What I love is that Madoff wanted to surrender to the feds BEFORE he distributed hundreds of millions to certain employees and friends, but his sons turned him in before he could do that.

r1b2

Fri, 12 Dec 2008 16:26:05 -0500

We've been talking about this story all day. I especially liked that the SEC investigator's name is Calamari. It's liek the old Dom Irrera bit. "My name's Calamari. This is my colleague, Joey Bagadonuts, and our partner, Mussels Marinara."

The Man Bat

Fri, 12 Dec 2008 16:24:22 -0500

$50 BILLION!?!?!? How much is enough??....wouldn't it have been better to stop after, oh I dunno, say maybe the FIRST billion and then jet off to some 3rd world country and live like a frickin King for the rest of your days?