Tag Archives: SEC

Where Have All The Madoffs Gone?

There is nothing new to learn from the mouth of Bernard Madoff except his “surprise” at not being caught years before for a Ponzi scheme that went on for decades. The one-time street hustler who worked the boardrooms and country clubs of the wealthy told his lawyer the most amazing aspect of his career is how long it went on and on and on. On occasion, like being brought before the SEC Mr. Madoff “thought they got me” but as always when the rich and powerful are concerned, being caught with your hand in the till will be excused away as the act of a man with a disease that forces his hand to wind up in strange places. Now, if a poor man tried placing his money in the cookie jar, the only solution is cutting off his arm and sending him to prison.

The issue no longer is about Bernard Madoff. The central issue is how many other Bernie Madoffs at this very moment are hustling their way through the money of those with money? The issue is when does government establish regulatory agencies that will regulate rather than look the other way? Bernie, have a good one. I’m certain God will watch his wallet when you come before him, after all, how else could the Old Man behave towards someone who ripped off Holocaust victims?