Jailed-for-life Ponzi villain Bernie Madoff is offering to put in a good word for five former underlings before they are sentenced for aiding his epic $17 billion scheme — and amazingly one of them wants the help. A series of emails Madoff sent lawyers for the five ex-Madoff staffers convicted in March were included in new Manhattan federal court filings Wednesday. In one of them, a Sept. 29 email, addressed, “Gentlemen,” Madoff says, “I am still available to help if you desire. I assure you that my info on each of your clients is of great value and discredits the testimony provided by Frank D,” referring to his former lieutenant Frank DiPascali, the government’s star witness and a convicted fraudster.” Larry Krantz, who represents former Madoff computer programmer George Perez, was the only lawyer to take him up on the dubious offer. [NYP]
Anyone finding the accommodations at the Steinberg Conference Center unbecoming? Read more »
As some of you may recall, Deutsche Bank owns a casino1 (and hotel) in Las Vegas called The Cosmopolitan. If it seems out of character2 for the Germans to be proprietors of an establishment whose motto is “Just the right amount of wrong,” where people lay scantily clad around a pool by day and gorge themselves on food and drink before vomiting while waiting in line to get into a club by night, that’s because Deutsche only meant to get into the business of funding the project, not running it. Unfortunately, in 2008 the original developer, Ian Bruce Eichner, had to go and default on his loans, and when it became apparent that no one else wanted to invest in the place, the bank decided to just finish the thing itself, spending an addition $3 billion that went towards things like “a three-story crystal-strewn bar meant to evoke the inside of a chandelier.” Anyway, the resort has been been making slightly more money than in earlier years (while still “post[ing] net losses of around $100 million every year since opening”) and management has decided that as much fun as its been owning an in-house nightclub called “Rose. Rabbit. Lie.”, it’s time to sell. Read more »
No progress—unless you consider this progress. No CFTC report on the things the CFTC reports on, joining all of the other reports that are not coming out. Still no concern that the lack of progress means there will be a default, even if John Boehner is now saying he wasn’t serious when he said he wouldn’t allow a default. Some people smelling opportunity. And a reminder that the Federal Reserve is not reliant on Congressional appropriations in a way that will be obvious to those whose ATMs dispense something other than $20 bills. Read more »
According to Dealbook, the big guy is merely “weighing” whether or not he wants to start one but it seems more than a little obvious this thing is happening. He’s got the office space, the passion, and the tattoo on his ass that reads “Each time a door closes, a bigger, more fucking awesome one opens.” Mornings at home with Maury followed by early afternoons with his Soaps were fun for a while but it’s not the life for him. He needs a desk and a purpose and that purpose is making you big money. All you have to give him is a little something called “2 and 20.” (3 and 50 if you really want to show your support.) Is that so much to ask? Hank Paulson, can he count on you for $100 million to start? Make it 250mm and the whole pushing him out of Goldman and driving a stake through his heart incident is forgotten. Get in on the ground floor.
The former Lehman Brothers chief operating officer and close personal friend of Dick Fuld has reportedly put his Lloyd Harbor. For $22 million you get a 15,000-square-foot main house, a 6,000-square-foot guest house, nine acres, 6 bedrooms, 8.5 baths, a 7 car garage, what appears to be a duplex apartment for shoes, and a little piece of history. Plus, you’d read be helping out the guy, who never collected his $230 million in deferred compensation. [Dealbook]
Can't nobody hold me down
Harbinger Global Corp is coming to an exchange near you. Read more »