Bernard Madoff

Bernard Madoff, born in 1938, is an American financier and former NASDAQ chairman who was indicted in 2008 for defrauding investors of a reported $50 billion. Madoff, whose investment firm was patronized by the ultra-rich, was allegedly the mastermind behind an elaborate Ponzi scheme that had been going on for over a decade.

Madoff’s clients included business people, celebrities, corporations, and even charitable foundations, many of which lost almost their entire investment with Madoff. Under SIPC guidelines, victims are entitled to a reimbursement of only $500,000, a small sum considering the investments put in by the high net worth clients of Madoff Investment Securities.

Following his arrest, Madoff was placed under house arrest having posted $10 million bail. His culpability will ultimately be determined in a court of law.

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Latest blogosphere posts tagged “Bernard Madoff”

• WaMu Blamed in $200M Millenium Bank Ponzi Scheme (JPM)

  
  The Market Guardian | Monitoring The Financial World — Authority: 146
  Lawrence Delevingne Washington Mutual alledgedly enabled a nearly $200 million Ponzi scheme, and now JPMorgan Chase has to deal with the victims’ lawsuit. According to the class action, filed in San Francisco federal court, WaMu “actively and knowingly participated in the fraudelent activities” of Millennium ...
  1 hour ago

• WaMu Blamed in $200M Millenium Bank Ponzi Scheme

  
  Law Review — Authority: 150
  Washington Mutual alledgedly enabled a nearly $200 million Ponzi scheme, and now JPMorgan Chase has to deal with the victims lawsuit. According to the class action, filed in San Francisco federal court, WaMu "actively and knowingly participated in the fraudelent activities" of Millennium Bank, a Carribean financial ...
  1 hour ago

• Madoff Prosecutor Joining Cleary Gottlieb

  
  Law Review — Authority: 150
  Cleary Gottieb is adding talent to its trial practice with a big get from the U.S. Attorneys Office. Lev Dassin, the federal prosecutor whose office oversaw Bernie Madoffs conviction, is joining Cleary Gottlieb as a parter. The firm does not have formal "sections," but he will handle white-collar enforcement and ...
  4 hours ago

• If They Don’t Think Too Hard About It

  
  Commentary — Authority: 780
  As the Wall Street Journal ’s editors note, Nancy Pelosi managed to rope in just enough Democrats to enact a breathtakingly bad piece of legislation: It creates a vast new entitlement, financed by European levels of taxation on business and individuals. The 20% corner of Medicare open to private competition is ...
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• Mondays are Dark

  
  South Florida Theatre Scene — Authority: 131
  Heres your Monday reading list; dont forget, Aisle Say is at 2pm! Another Gablestage Reading Few theatres do as many readings and dark-night programming as Gablestage.  Tonight, its the musical version of Come Back, Little Sheba .  Read about it in the Miami Examiner . Like a Rhinestone Greaser The Palm ...
  5 hours ago

• Luxembourg to boom as hedge funds move onshore

  
  OSHedge Blog — Authority: 153
  GENEVA (Reuters) - Luxembourg could draw hedge funds in their droves as European investors retreat from offshore vehicles and seek to rein in liquidity and counterparty risk in the post-Madoff, post-Lehman environment.
  6 hours ago

• Bernies bidder end

  
  NY Post: Sports — Authority: 932
  If you want to accessorize like Bernie and Ruth Madoff, heres your shot. Diamond earrings, rings and Rolex watches will be among the items belonging to the $65 billion Ponzi schemer and his wife that will be auctioned off by the US Marshals Servi...
  6 hours ago

• Madoff’s Prosecutor Is Joining Cleary Firm

  
  NYT > Theater — Authority: 915
  The acting U.S. attorney for Manhattan stepped down when the Senate confirmed President Obama’s nominee for the post, Preet Bharara.
  8 hours ago

• Rising Foreclosures: A History of Violence

  
  Wall St. Cheat Sheet — Authority: 618
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• Fortune magazine names Apples Steve Jobs CEO of the decade (Philip Elmer-DeWitt/Brainstorm Tech)

  
  Apple Secrets — Authority: 153
  Philip Elmer-DeWitt / Brainstorm Tech : Fortune magazine names Apple’s Steve Jobs CEO of the decade   —  Runners-up include Gates, Buffett, Page, Brin, Winfrey, Stewart and — wait for it – Madoff  —  Steve Jobs is the CEO of the decade, according to the new issue of Fortune magazine. … The piece ...
  8 hours ago

• the ocean and the universe and the grifting lizards from mars – anniversary 1.5

  
  Goodbye Blue Monday — Authority: 118
  in the conversation i had with the grifting lizards from mars this day, i would be told that the planet earth is nothing more than a random-process computing toy that makes maps of the universe. that images are captured from ships in the sky and charted. the eduardo cianelli-sounding lizard guy who sounds like omar ...
  8 hours ago

• BERNARD BEAR SHIRTS – BERNARD AND DOG YOUTH T-SHIRT

  
  Home Alone Critter Care of Columbia County, Oregon — Authority: 164
  Bernard Bear Shirts – Bernard as well as Dog Youth T-Shirt Share this on del.icio.us Digg this! Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Facebook Tweet This! Add this to Google Bookmarks Related posts: ...
  9 hours ago

• Madoffs Prosecutor Is Joining Cleary Firm

  
  DealBook — Authority: 782
  Lev L. Dassin, a former top federal prosecutor in Manhattan whose office won the conviction of Bernard L. Madoff for his huge Ponzi scheme, resulting in a 150-year sentence, is joining the New York office of the international law firm Cleary Gottlieb Steen & Hamilton.
  9 hours ago

• Old Ass Movies: North By Northwest

  
  Film School Rejects — Authority: 660
  Every Sunday, Film School Rejects presents a movie that was made before you were born and tells you why you should like it. This week, Old Ass Movies presents: North By Northwest (1959) I swore when I started this column that I would do my best to protect you, the dear reader, from my incessant love of Alfred ...
  11 hours ago

• Ms. Mix & Bitch’s Views of Life in Venn Diagram Form

  
  Mix Tape Therapy — Authority: 125
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  14 hours ago

• Teabaggers attack Holocaust survivor Elie Wiesel

  
  CAROLINA NATURALLY — Authority: 164
  Can you believe this shit! The photo below is of Elie Wiesel in the Buchenwald concentration camp. Hes in the second row from the bottom, seventh from the left (next to the wood support). Holocaust survivor and Nobel laureate Elie Wiesel criticized a teabagger protester in Washington, DC this week who held ...
  15 hours ago

• I Know It When I See It or Propaganda is Obscenity

  
  Healthy Influence Blog — Authority: 127
  Matt Armstrong at MountainRunner shared a PDF of a new DoD policy regarding use of the terms, “propaganda” and “strategic communication.”  Here are the new definitions. Propaganda is:  “1. The systematic propagation of information, ideas, or rumors reflecting the views and interests of those advocating ...
  15 hours ago

• Madoff Bankruptcy Trustee Drops One Claim Against Merkin, Eleven Remain

  
  Daily Intel — Authority: 778
  J. Ezra Merkin is very sued. Irving Picard, the bankruptcy trustee responsible for liquidating Bernie Madoff’s investment firm, dropped one of twelve claims against J. Ezra Merkin, the man who raked in a large chunk of Madoff’s fake profits. The total value of the suit hasn’t changed from $564.6 million, ...
  16 hours ago

• Colts Turn Up Tempo to Stay Unbeaten

  
  Back Porch FanHouse — Authority: 172
  by Dan Graziano Filed under: Colts , Texans , AFC South , NFL Quarterbacks , NFL Analysis INDIANAPOLIS -- You expect the Colts to throw, and throw a lot, but even for Peyton Manning and his band of merry, pass-happy men this was a little bit nuts. Indy ran nine plays -- eight of them passes -- in the first ...
  17 hours ago

• RISK AND REALITY: Do You Still Think Crises Are Mere Consultants’ Creatures?

  
  The National Networker (TNNW) Blog — Authority: 433
  Risk and Reality with Franco Oboni, Ph.D. Well, all along our professional life of Risk and Crisis Management consultants and coaches we have been confronted with clients that expressed themselves with statements like: “well, you know, this kind of stuff only happens to others”, generally followed by ...
  21 hours ago

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