Have you ever wondered what Ira Sorkin, Bernie Madoff’s lawyer, was doing when he got the call that his client’s business wasn’t entirely legit, per se? Wonder no longer:
“I’m sitting in [my granddaughter's pre-schoo] class and these children, two-and-a-half-year-olds, are standing around, pretending that they’re on a farm,” Sorkin said. “And the teacher is asking, ‘what sounds do you hear on a farm?’ Like a cow, moo-moo, and a duck, quack-quack. “And I’m hearing all these animal sounds, and all the kids laughing and applauding, and my cell phone rings. And it’s Bernie Madoff. And he tells me that he’s been arrested by the FBI. He’s handcuffed to a chair. He needs my help. And in the background, I’m hearing, ‘moo-moo, quack-quack, oink-oink,’ and I ran out of the class.”
Also, if he had to defend the Ponz Master all over again, would he? You betcha, Sorkin told Scott Cohn. And while we’re on the subject, the attorney is tickled by how long his clients scam was able to go on for.
Madoff himself told investigators he was amazed he did not get caught sooner, and Sorkin agrees.
“I think a real problem, which I understand is being remedied, is no one understood risk, and no one paid attention to the risk,” Sorkin said. “Problem number two is, I think the examination process failed. I think if the SEC had asked perhaps four questions, this could have ended much earlier.”
Madoff Attorney A Year Later: I Would Do It All Over Again [CNBC]
I’d poo-poo on his shoe shoe.
Ping
does he have dementia?
Funny those are some of the sounds Mark and Andrew will be making as Alabama black snake slithers its way into their ass.
Perhaps four questions.
1) Are you running a Ponzi scheme here?
2) No, really.
3) Can you prove you are NOT running a Ponzi scheme?
4) Why not make it easy on yourself and admit you’re running a Ponzi scheme?
Bern did have style though. I mean not many could pull off that look.
I want to know why this liver spotted dickhole was hanging around young children on a random Thursday in December.
-Chris Hansen
that sack never gets old
I thought Berns sent him a card that said “I Choo-Choo-Choose You, Happy Hanukkah”
Reminds me a little of W. except Sorkin left the room.
@10 yes
nice catch there @10
“I think a real problem, which I understand is being remedied, is no one understood risk, and no one paid attention to the risk,”
I’m not sure to what Sorkin is referring.
Evaluating counterparty risk necessarily involves the consideration of the ability to meet contractual terms and the possibility of misrepresentation; my internal counsel doesn’t trust anyone.
However, in Shawshank Bernie’s case it wasn’t the failure of sophisticated financial models or poorly calculated asset correlation and tail event probability.
This jackass was a thief.
At least investors may take comfort in knowing that, prior to his arrival, the boys in his cellblock probably had access to the picture included in the post (he looks so illegal in that pic) and now his dance card is surely quite full.
the whore says, “COCK COCK”
@ED The whore says, “Anycocklldo” …..FIFY
@14
Punctuation is important, let me show you:
The who0re says “COCK, COCK!”
See?
The jews always stick together.
Il coccodrillo come fa?
No, we never planned to name the baby “Bernice”. Yes, in hindsight, $2.8 million for a house in the Hamptons was an extraordinarily generous wedding gift.
Looks like Shazz is history. Guess Bess was serious yesterday when she said she was leaving to clean house.
Instead the SEC employee asks these four questions.
Are you hiring?
Do you need my resume?
When do I start?
Do I get a starting bonus?
Didn’t Sorkin’s vigorous defense of Bernie and A&B in 1992 contribute an eensy-weeny tiny bit to perpetrating the fraud?
Shazhat has assumed room temp as far as I’m concerned.
Ira, when you are reading to schoolchildren and get an emergency call, you don’t run out of the room. It looks unPresidentail, you should have kept reading and dealt with the problem after you finish.
George W.
Wait, so at the time Bernie was in jail Sorkin was sitting around and quacking off?
Bad moove.
Four questions? Heck, one phone call to DTCC would’ve ended the matter.
Everyone knew his investments were total quackery.
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