Thursday, March 19, 2009

Some surprising, some not surprising

Bernie's in jail. Though Ira was in appeal court this morning trying to get him sprung. Seems like Uncle Bernie doesn't like the joint much. Surprising? Or maybe none of this should be surprising at all considering even just the limited details we have since Uncle Bernie fessed up in December. Then pops this evenings story at The Daily Beast (Exclusive: Madoff Employee Breaks Silence). An interview with one of the staff members on the 18 and 19th floors. A computer programer. Then it goes on to say one of a group or pod of four. And his identity verified with staff listings of the company. Wow, stepping out on a limb. Talking about having saved some files and having copies. Yikes, the Feds are gonna try a jump all over this, aren't they? And those massively atypical salaries for everyone in the as stated inefficient operations grossly overstaffed. They coulda made money but the Madoff's didn't seem to care. Hush money. Keeping the troops happy. All part of the scam. Simple typeface of statements. And the strategy. "But it was drummed into us that Bernie was into positions for the long haul, that he believed the stock market was cyclical and that eventually what was down would come up. So I thought that Andrew and Mark just believed what their father said and followed his philosophy. If he wasn’t bothered, why should they be?”

The original pieces to this post now seem less important...but they still contrinue to weave a tale like no other.

Madoff accomplice arrested. David Friehling, Bernie Madoff's accountant


These particular $65M of assets had nuthin to do with Bernie or his operation. More koolaid to drink I think. Feds looking to freeze Ruth Madoff's assets: report

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