From the mailbag:
Andrew Madoff is in Houston at NAPE (North American Prospect Expo), a giant conference for oil & gas companies and lenders to network and put deals together, and he is raising money. He is making the rounds looking for financial backers to develop some oil & gas properties in texas and approached our booth (NY & Houston based private equity) and spoke with us for about 15 minutes about his opportunities. The expo has an older-texan crowd and no one seems to have recognized him.
Posted by guest , Feb 05, 2009 4:17PM
What do you call a blumpkin from an egg shaped man?
Humpty Blumpty
Posted by miami , Feb 05, 2009 4:18PM
This is why Money Never Sleeps is never going to be released. It wouldn't be interesting compared to current reality.
Posted by guest , Feb 05, 2009 4:19PM
Tip them off! Tip them off! Texas-style justice.
Although, I can't imagine being a Jew in Texas - in oil yet - is a plus in the fund-raising department.
Posted by guest , Feb 05, 2009 4:19PM
Will investors get real returns? or Maddoff returns?
Posted by guest , Feb 05, 2009 4:20PM
Only Steers and Queers in Texas, no Jews
Posted by guest , Feb 05, 2009 4:23PM
Texas - Go large or go home!
Posted by guest , Feb 05, 2009 4:26PM
Watch out. This guy will be running for President after a stint as Governor of Texas.
Posted by guest , Feb 05, 2009 4:34PM
5 Andy Fastow, and his wife, who's from a very wealthy Houston Jewish family. Stanley Marcus, ditto, Dallas.
Posted by Anal_yst , Feb 05, 2009 4:36PM
Didn't someone mention something along these lines in a comment a few weeks ago?
Posted by guest , Feb 05, 2009 4:40PM
@7-
Seeing how he is a Jew wouldn't it be more likely that we would become the next Messiah once The Messiah now in office ascends into political heaven to sit at the right hand of Roosevelt?
Posted by guest , Feb 05, 2009 4:43PM
The Messiah now in office may not be called The Messiah much longer, by the look of things
Posted by guest , Feb 05, 2009 4:47PM
11
How dare you tell us 56 million screaming liberals could be misguided.
Posted by guest , Feb 05, 2009 4:47PM
That's like Jack the Ripper's son volunteering at the center for domestic violence.
Posted by guest , Feb 05, 2009 4:48PM
Madoff looted more from his own people than the Germans did in WW2 - look it up in todays dollars...crazy stuff
Posted by guest , Feb 05, 2009 4:52PM
http://en.wikipedia.org/wiki/2009_Enten_investor_fraud
I wonder if this guy's kids like to fish.
Posted by guest , Feb 05, 2009 4:54PM
The guy inherited the mess of eight years of incompetance and neglect, including an economy like '29 and has been in office two weeks. And all you can drag out is that old Messiah label. That's rich. All I can say is its a good thing that Sarah Snowpants and Grandpa aren't in the middle of things. Imagine how funny that would be.
Posted by guest , Feb 05, 2009 4:55PM
NAPE is great--the first alphabetical exhibitor listing this year is "5 Guys Looking For a Deal". More often than not, drillers will use "business models" ala Gob Bluth to promote prospects. Good times all around. Very Texan. And everybody gets laid.
Man, I miss the E&P side.
Posted by guest , Feb 05, 2009 4:56PM
It's been 18 weeks since taxpayers rescued AIG to save Goldman Sachs and several European banks who all utilized the unhedged luddites of AIG to protect their own weakening portfolios. It's simple. In late 2007 and early 2008 the brainiacs at Goldman hedged their porfolio of shit assets with a shit insurer, because well, they're Goldman Sachs, Lord of Idiots. Turns out Euro banks had been hedging their exposure to the mortgage pile on their books for years as a means of skirting regulations on capital ratios. Rule Bending Banking Bastards 101.
The problem was AIG didn't hedge their own exposure. They couldn't. They were the 'safe' place to buy protection. And the shitkeepers in control of AIG allowed their exposure to other people's shitpiles to grow so large that there was no one left to de-odorize.
I recall a press release (can't find it now) from AIG's cfo in February of 2008 whining noticably about mark-to-market requirements being unfair and wrong. Already short the common (price then $48), we were watching AIG carefully. It was an obvious tell. It was THE TELL of early 2008. For him to cry so publicly about accounting, ALL IN.
So far AIG has cost your kids $150 billion. Yes, $150 billion, go ahead and let it sink in. And the number will likely be closer to $200 billion the next time we're forced to mention them. They're in the news again this morning, with a piece in the WSJ about something extra-mensa they were doing called '10 Cubed'. Please take a moment to consider just how stupid you have to be to lose $150 billion selling insurance on other people's shit. Thank you for that collective moment.
And since we taxpayers are the winners in the AIG Shit Sweepstakes, I've decided to do an AIG-taxpayer-shithouse special links edition. Inside I am gathering articles on the entire mess. I've read way too many on AIG and I will deliver the best links out there, both background and from today.
Oh and the grandkids just called from the future, cuz they also wanted to say Fuck You , AIG."
http://dailybail.com/home/2009/2/5/the-angry-american-taxpayer-f-you-aig-and-f-you-from-my-kids.html
Posted by guest , Feb 05, 2009 4:58PM
This guy is awesome. His dad just got jacked for pulling the largest swindle in the history of the world and he's asking people to invest with him.
This guy couldn't get a car loan for a daewoo lanos with that name......
Posted by guest , Feb 05, 2009 4:58PM
http://www.youtube.com/watch?v=k1FCmfo2Ft4
Posted by guest , Feb 05, 2009 5:02PM
16-
Exactly what was the role of the federal government and, in particular, the President of the United States in managing the proprietary investment portfolio of private financial institutions during the past 8 years?
Please give us details.
Posted by guest , Feb 05, 2009 5:07PM
@17 Ha! I love the AD reference.
Posted by guest , Feb 05, 2009 5:17PM
He came by our booth for a while too, him and another guy.
-17 no lie about the "business models"
This year top honors go to Nobel, Legacy, and BJ Services (yes, really).
Posted by guest , Feb 05, 2009 6:06PM
@5 don't forget the beers
Posted by guest , Feb 05, 2009 6:30PM
Who knew Jews fished?
Posted by guest , Feb 05, 2009 7:18PM
Too ballsy, can't believe it.
Posted by guest , Feb 05, 2009 7:39PM
@25 - What about gefilte fish?
Posted by guest , Feb 05, 2009 7:42PM
Andrew and Mark Madoff were seen at Sing Sing , checking out the bunk beds in wing C
Posted by guest , Feb 05, 2009 8:08PM
This loser ought to stay home in New York making deli runs for his poor old dad.
Posted by guest , Feb 05, 2009 8:18PM
@27 - Everybody knows they make goyim fetch it for them.
Posted by Novice , Feb 05, 2009 8:32PM
@28 You could at least play to the local crowd and say they went to Hunstville instead.
Posted by merkin capital partners , Feb 05, 2009 8:35PM
@8 while admirable that you came up with 2 texas jews, i didnt meet my first until i started working. I have seen 2 synagogues in Dallas but I can only assume they are movie sets of some kind.
Posted by guest , Feb 05, 2009 9:08PM
Oscar Wyatt was in the oil business in Texas.
Posted by guest , Feb 05, 2009 9:11PM
ross perot is jewish
Posted by guest , Feb 05, 2009 9:20PM
32 Totally wrong, there are Jewish neighborhoods in Dallas and Houston. Jewish country clubs, an entire Jewish elite. And they don't just own the dry goods stores. For self-preservation however they blend in better than in cities like NY and LA, so you dont notice.
Posted by guest , Feb 05, 2009 9:24PM
21 That's easy. Monetary policy encouraged the sizzling growth of the housing sector, basically creating a bubble economy, the purpose of which was to create jobs and prosperity. And it did in fact work for a bit.
Plus Bush was just plain stupid. A stupid leader can never be good, be it a corporation, cub scout group or country.
Posted by guest , Feb 05, 2009 10:08PM
@17 From what I saw today at NAPE, not nearly as many hookers as when times were good...Lots of talk about debt covenenants being missed come Q2 if prices don't bounce. Have no worries though, still plenty of boondoggling going on...
FWIW, 5 Guys are on their 3rd or 4th go round at NAPE and have a kosher name now, just can't afford to give up the publicity at the show.
Posted by guest , Feb 05, 2009 10:15PM
I'll be at NAPE tomorrow, does he have a booth? If so, under what name?
Posted by guest , Feb 05, 2009 11:01PM
I still get a chuckle whenever I drive past a BJ-emblazoned fluid tanker or pumper unit.
"Oooh, someone's paying for some significant BJ service!"
--Calgary Schmooze
Posted by guest , Feb 06, 2009 1:24AM
/trout
Posted by guest , Feb 06, 2009 2:14AM
Weren't the Ewings jewish? Bobby had a white convertible Mercedes SL.
Posted by miami , Feb 06, 2009 10:34AM
I bet Barry the Messiah could close the budget gap in two weeks if he simply got his nominees to pay their tax liens.
Posted by guest , Feb 06, 2009 10:47AM
I'm pretty sure this is a photo of Mark Madoff, not Andy.
Posted by guest , Feb 06, 2009 10:49AM
WOW Times must be tough for the Madoff family if they have Junior out fishing for Whitefish
Posted by guest , Feb 06, 2009 10:53AM
41 Ha. Remember when Jews refused to buy VW's cause they were made in Germany? They changed their tune fast when Benz's and BMW's started arriving. Jews know what's good.
Posted by guest , Feb 06, 2009 9:28PM
xoxo! gossip girl
Posted by guest , Feb 11, 2009 8:01PM
That isnt a picture of Andy Madoff