"In a world full of lies, the most dangerous ones are those we tell ourselves." - Diana Henriques
On March 12, 2009, Bernard Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme.
But to describe STUPID, would be the Security Exchange Commission. Madoff said he could have been caught in 2003, but the bumbling Inspector Clouseau's never asked the right questions.
"I was astonished" says Madoff. "They never even looked at my stock records. If investigators had checked with The Depository Trust Company, it would've been easy for them to see. If you're looking at a Ponzi scheme, it's the first thing you do."
Yes, Bernard Madoff is and will always be a dishonest thieving criminal (he's currently serving a life sentence at The FCC Butner in North Carolina). However, when the sh-- hit the fan in 2008 (largely due to the BUSH Administration), the banks and Insurance Companies were actually rewarded with a 700 billion dollar bail out (which was eventually "paid" back at virtually ZERO percent interest)
The moral of the story; When there is GREED, there's always more than just 1 BAD GUY.
On March 12, 2009, Bernard Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme.
But to describe STUPID, would be the Security Exchange Commission. Madoff said he could have been caught in 2003, but the bumbling Inspector Clouseau's never asked the right questions.
"I was astonished" says Madoff. "They never even looked at my stock records. If investigators had checked with The Depository Trust Company, it would've been easy for them to see. If you're looking at a Ponzi scheme, it's the first thing you do."
Yes, Bernard Madoff is and will always be a dishonest thieving criminal (he's currently serving a life sentence at The FCC Butner in North Carolina). However, when the sh-- hit the fan in 2008 (largely due to the BUSH Administration), the banks and Insurance Companies were actually rewarded with a 700 billion dollar bail out (which was eventually "paid" back at virtually ZERO percent interest)
The moral of the story; When there is GREED, there's always more than just 1 BAD GUY.