More on Madoff
I have a problem with some criminals. Others, not so much. If you rip off Halliburton or KBR for a couple of million, I’m probably going to throw you a party. On the other hand, when you rip off the elderly and take their savings, there isn’t a punishment bad enough. Under the jailhouse? Nope. Electrocution at one volt per day? Too easy. Bernie Madoff is in this category (of course he is innocent until proven guilty).
60 Minutes did a great story on the Whistle Blower, Harry Markopolos, and Bernie Madoff this week. Watch the video:
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From AP:
Bernard Madoff has agreed to give up the rights to his disgraced investment business and his company’s prized artwork and entertainment tickets, as an official for an organization providing relief to investors said Tuesday that some checks may be in the mail this month.
The trustee overseeing the liquidation of Madoff’s business said the former money manager was surrendering ownership rights to his business, Bernard L. Madoff Investment Securities LLC, along with the company’s artwork and entertainment tickets. The trustee, Irving Picard, did not specify the value of the property or say what kinds of tickets and artwork Madoff possessed.
The ultimate goal is to put some of Madoff’s remaining assets in the hands of investors who lost their life savings amid the scandal, and there are growing signs that some of them could see relief in coming weeks. (more… )
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