Posted by guest , Mar 14, 2009 1:07AM

i like grits with lots of salt and pepper and cheese. i'm drunk RIGHT NOW.

madoff can eat grits out of my asscrack.

Posted by guest , Mar 14, 2009 1:50AM

bess, on the home page the above the law link takes you to dealbreaker

(its at the very bottom)

Posted by guest , Mar 14, 2009 2:15AM

@1, is you rollin?

Posted by guest , Mar 14, 2009 8:04AM

those $823 mil + the $65m or so of his bitch along with his luxury apartment will hopefully be confiscated so his net worth will soon reach 0. I do hope they will go after his sons too. The whole family should be wiped out.

Posted by guest , Mar 14, 2009 11:32AM

Actually, marked to market, you can chop $690m off of that. He valued Madoff Securities at $700m. It's probably getting less than $10m, because it, well, wasn't a real business ($1m in profit in 2008).

Posted by guest , Mar 14, 2009 11:47AM

Why hasn't someone been paid off to assassinate him yet?

Posted by guest , Mar 14, 2009 12:17PM

$65B down to $826M, the jew couldn't even steal correctly

Posted by guest , Mar 14, 2009 1:34PM

The people who pulled their money out of Madoff early made A LOT of money. I'd like to see a list of people who made a killing on this Ponzi scheme.

Posted by guest , Mar 14, 2009 1:37PM

@12 - Madoff didnt promise anyone high returns - the reason he lasted so long was that his returns were moderate to low moderate BUT consistant year after year. So I dont really think anyone made a killing.

Posted by guest , Mar 14, 2009 2:03PM

Madoff's cellmate should force him to him strump a dump every time he strumps said dump

Posted by guest , Mar 14, 2009 2:36PM

@11 $1m on $45m in bonds monthly? Am I missing something?

Posted by guest , Mar 14, 2009 3:13PM

@4, bitch, I might be...

Posted by guest , Mar 14, 2009 4:44PM

# 13 no one made a killing? Jackoff made $65 billion..Mother F'er is going to be someone's bitch in the steel jungle..Atleast he can buy some nice knee pads.

Next up- His wife and family members.. bet 2 cents they are NOT innocent. Maybe she can get it on w/ a pool boy now, "Hunny rub the bunions"..

Posted by guest , Mar 14, 2009 4:46PM

Madoff = Prison = Lockjaw

Posted by guest , Mar 14, 2009 7:06PM

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4U_B0XX3U3M&refer=home

Good luck clawing it back from Cassano.

Posted by guest , Mar 14, 2009 7:50PM

12 market stories you might have missed this week. The author threw in some economic cartoons.

http://bit.ly/1a25eB

Solid work.

Posted by guest , Mar 14, 2009 10:05PM

Story problem: You give me $1 as an investment in my fradulent scheme. I take your dollar and buy a candy bar with it. I then mail you statements for ten years saying that your dollar has appreciated to $100 million.

When the scheme blows up, how much have you lost: $1 or $100 million?

There never was $65 billion. It never existed, it was a made-up number. The aggregate loss is limited to the amount that people contributed, less the total of amounts paid to other customers in prior periods.

Posted by guest , Mar 14, 2009 11:12PM

give me a dollar, i buy a candy bar. lure young boy to van with candy bar. sell young boy to arab for $1,000. real money dickhead.

Posted by guest , Mar 14, 2009 11:12PM

give me a dollar, i buy a candy bar. lure young boy to van with candy bar. sell young boy to arab for $1,000. real money dickhead.

Posted by guest , Mar 14, 2009 11:46PM

"hey little girl, wanna buy a candy bar?"
- young Bernie Madoff

Posted by guest , Mar 14, 2009 11:57PM

This is cute:

http://online.wsj.com/article/SB123707854113331281.html#mod=testMod

So we (still employed taxpayers) not only have to make the Structured Products group's counterparties whole via bailout funds, but we have to sponsor models and bottles for the dudes in the City to the tune of $100 mil?

Awesome.

Sucks for these guys (via NYT piece):

"A.I.G. did cut other bonuses, Mr. Liddy explained, but those were part of the compensation for people who dealt in other parts of the company and had no direct involvement with the derivatives."

Posted by guest , Mar 15, 2009 12:56AM

But Mr. Liddy also wrote that AIG "cannot attract and retain the best and brightest talent … if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury."

I knew that line would be in there somewhere.

Posted by guest , Mar 15, 2009 2:48AM

No wonder UBS is fighting so hard

Posted by guest , Mar 15, 2009 3:37AM

RE: This AIG bullshit.

Chief Executive Edward Liddy said, in regards to the bonus payout, "quite frankly, AIG's hands are tied." Bullshit. Just don't pay it. I would love to see someone actually sue over this - ya, go ahead, become the most hated man/women in America. Just call the bluff already, there is no reason to pay such an amount and, I hate to break this to the good people at AIG, but you are not "the best and brightest talent."

Posted by guest , Mar 15, 2009 12:35PM

I am going to write the first letter I have ever written to a US Senator over this AIG bonus bullshit. I am going to tell him that AIG traders and execs are illiterate, illegal immigrants and he'll predictably "go nut crazy" and put an immediate if boneheaded halt to it before checking out the story.

Guess what state I live in.

Posted by guest , Mar 15, 2009 2:59PM

#10 no need to be anti-semitic dickhead.

Posted by guest , Mar 15, 2009 4:19PM

#@28...

TGFD agrees with you totally. Had you not already written your entry, I was going to write one just like it.

I believe that a defendent in a civil case can have a jury trial, and that would work to AIG's advantage. Where in hell would those derivative clowns who are looking to collect bonus money from AIG find a f'n jury that would side with them?

The f'n employment contract would mean nothing. I wonder if said contract had anything written in it that referred to 'doing things that are detrimental to the company'?

That idiot Liddy at AIG has no balls and should be replaced yesterday. What a f'n dork he is.

The Guy from Delaware

Posted by guest , Mar 15, 2009 5:52PM

AIG Says Fuck You to Taxpayers

http://thereformedbroker.com/2009/03/15/aig-to-taxpayers-f-you/

Posted by guest , Mar 15, 2009 5:59PM

Here's how the Brits show their displeasure with banks:
http://news.bbc.co.uk/1/hi/uk/975012.stm

Posted by guest , Mar 15, 2009 8:38PM

As the AIG bonus fiasco heats up, now AIG has decided to release payments to counterparties funded by the gov.

http://dealbook.blogs.nytimes.com/2009/03/15/aig-discloses-counterparties-who-received-224-billion/

Bernie needs some cellmates of his ilk. Somewhere in this swindle there must be some good candidates from AIG to keep him company.

Posted by guest , Mar 15, 2009 9:27PM

AIG insured Bernie?

Posted by guest , Mar 16, 2009 12:17AM

@38 AIG will continue to be a "story" until they return the taxpayers' money.

Posted by guest , Mar 16, 2009 3:04AM

TGFD,

Glad you agree RE: AIG Bullshit. I think that the key here is that no jury, even if they found in favor of the plaintiffs, would award any kind of damages. Thus, the calculation is simple:

E = (0.99 * (0.99 * $170M + 0.01 * $5M) + 0.01 * $0) ~ $167M

That is, given a 0.99 probability of a lawsuit, a 0.99 probability that the plaintiffs win the lawsuit, and a total $5M in legal fees if a lawsuit occurs, then the expected loss is approximately equivalent to the current bonus payout. Furthermore, I think that the chance of a lawsuit actually being brought is less than 0.99; so, why not just roll the dice and tell the good people of AIG to go pound sand?

Posted by guest , Mar 16, 2009 10:11AM

Hey! $823M out of $6.5BThat's only 12.6% percent on your funds! That must be the best Hedge Fund Deal in Town !!

Posted by guest , Mar 16, 2009 10:35AM

17 He didn't take $65 billion. Do the math, he took in $65 billion from investors, has $823 million left. The difference is the total of what he stole plus what he distributed to investors. How much can a person spend? Certainly not $64,177,000,000, even over 20 years. Looking at his lifestyle, he probably spent at the most $1 billion over that time. That's what Madoff stole. The other $63 billion was stolen by his earlier investors from his later investors. Facilitated by Madoff, yes, but still ill gotten gains that they should not be keeping. No one wants to hear that though.

Posted by guest , Mar 16, 2009 11:54AM

Ruth has $5 & $7 Million loans out to son's homes, those will be liquidated...so sons are fucked

Wives (doggy ones) are out to; that divorcee's one aint getting any maintenance either

Look for Noel/Jaffe filing anyday

Posted by guest , Mar 16, 2009 11:59AM

Any word on clawbacks from investors? That's where the real money is.