Comments (16)

1. 1
   Posted by guest | March 12, 2009 at 12:31 PM

   I am going to enjoy watching this turd go down.

2. 2
   Posted by guest | March 12, 2009 at 12:50 PM

   it would have been wiser if he had gotten all his money from the swiss.

3. 3
   Posted by guest | March 12, 2009 at 12:55 PM

   bess, you guys are on fire today, bravo

4. 4
   Posted by guest | March 12, 2009 at 12:57 PM

   BS did they find any trades before the 90’s?

5. 5
   Posted by guest | March 12, 2009 at 1:03 PM

   Maxine Waters up next
   She has just been downgraded to ASS

6. 6
   Posted by guest | March 12, 2009 at 1:03 PM

   So, the miserable sick psychopath is now blaming the victims claiming
   he “concocted the scam in order to meet lofty expectations”. This
   pathological liar lured those victims in with his promises of
   outstanding returns and now is in a narcissistic rage about how things
   have turned out. His plea allocution is a litany of lies, half-truths and omissions concocted to protect his co-conspirators.
   His name is a curse but sadly will never be forgotten.
   May all of the other parties involved be brought to justice and die
   destitute or imprisoned.

7. 7
   Posted by guest | March 12, 2009 at 1:20 PM

   Anyone who believes any of this is – - was probably an investor

8. 8
   Posted by guest | March 12, 2009 at 1:31 PM

   @5: bravo.

9. 9
   Posted by Anal_yst | March 12, 2009 at 1:34 PM

   why didn’t he just plea Insanity? Honestly, to be able to carry-on for 20 +/- years like Madoff apparently did seems to require far more than a strong sense of denial, no?

10. 10
    Posted by guest | March 12, 2009 at 2:16 PM

    anyone know how he could spend $60 BILLION!?! Paul Allen is doing his damndest to burn through his Microsoft billions but he’s still got a lot left.
    HOW DID HE SPEND $4 BILLION PER YEAR?

11. 11
    Posted by guest | March 12, 2009 at 2:27 PM

    I realize that the confession has to describe where he did things in order to confirm a jurisdictional hook to federal court, but I’m pretty sure personal jurisdiction does not depend on what floor his office is located.

12. 12
    Posted by guest | March 12, 2009 at 2:54 PM

    Oh wait guys- he expalined it. It was the investors who made him steal 50 billion dollars and live off it as if he had actually earned it. All along i just thought he was a cock sucking shit eating asshole crimminal I had no idea of why he did it. Now I really care for the guy.
    bern, Ruth, Mark, Andy…You all better hope part of the guards list of perks includes soap on a rope. Pay back is a bitch.

13. 13
    Posted by guest | March 12, 2009 at 3:37 PM

    That “To the best of my recollection” sounds to me like something the lawyers inserted. As to why, maybe some lawyer can opine?

14. 14
    Posted by guest | March 12, 2009 at 3:59 PM

    10 A big part of the $60 B didn’t go to Madoff, but instead to Madoff investors as withdrawals. WSJ or NYT reported for example that Hadassah had invested $60M and over the years withdrew a similar amount, representing the earnings on their original investment. Their account today is worthless. Can you really say that $60M was stolen from them? Not really. (Before you jump, I understand that there’s an opportunity cost that should be considered). I’m sure Bernie skimmed a lot off the top, but a lot of that $60B was simply reallocated from later to earlier investors. That’s what makes it a Ponzi scheme.

15. 15
    Posted by guest | March 12, 2009 at 4:17 PM

    @10 Actually what makes it a ponzi scheme is that he stole the fucking mony when he said it was invested. To try and place some kind of reasoning around that asshole’s actual process is to believe he had one. He took money from people and put it in a bank account when he said it was INVESTED.
    He then bought shit with that money. If he returned any principle to anyone it was only to avoide getting caught. He got caught because everyone wanted their money back at the same time. Cant pay Peter with Paul’s money if Paul wants it back too..
    He stole all the money, not part of it. ALL OF IT.

16. 16
    Posted by guest | March 12, 2009 at 4:27 PM

    15 Lets say $60B was given to Madoff to invest and his firm currently has assets of $0. Some of the $60B went into Madoff’s pockets, some went to investors as withdrawals. And given that its not that easy to spend $60B, I’m thinking that actually a good part of the $60B is either stashed somewhere or went to the early investors.
    How can you say he stole ALL OF IT? Did he steal $60M from Hadassah for example? I don’ think so – they put in $60 and withdrew $60. They lost nothing except for the opportunity cost.