Weekend Madoffs

The mostly complete Markopolos

It’s long – 375 pages, including his testimony before the House Financial Services Committee this week — and occasionally repetitive, but the documentation of would-be Madoff whistleblower Harry Markopolos’s near decade-long attempt to have somebody, anybody, pay attention is well worth a browse.

Especially if you enjoy survivor-free train wrecks.

Testimony of Harry Markpolos (pdf file)

House Committee on Financial Services

Feb. 4 2009

Hours of harmless fun

A searchable index of the 10,000 individuals and accounts identified in court documents as victims of the $50 Billion Hedge Fund swindle perpetrated by Bernie Madoff. The database consists of names and addresses which are linked here to satellite images of the identified property locations.

This one is far superior. Hat tip to commenter below.

And the list (pdf file).

Comments

[Spartacuss:]

Another testiment of the "fools gold" wherein so many people with money may be good at what they do and have their multimillion dollar homes and private jets, but what they don't have is a sense of personal responsibility.

It is my contention that too much money lulls people into a nanny state of mind. In other words, why should I have to work or think when I can hire someone to do it for me. They bought off on Madoff without a blink...they deserve what they got.

Feb 08 09:48 AM

[The World's...:]

The duty of the government is not protect you, is to protect the government. It is a Supreme Court opinion. Therefore, I am not surprised of the inaction of the SEC when presented with Madoff's scam. If SEC lawyers do not understand what a "collar" strategy is and how it works; then we as investors are truly screwed.

Feb 08 09:50 AM

[a. palmer jr.:]

If Madoff were an ordinary street thug that stole $10 from a Seven 11 he would be in jail right now. Since he stole several billions he gets to live in a penthouse, far better than most of us. I understand the bail principal that is a guarantee of their appearance in court for their trial.
But don't we have a guarantee also when we let them sit it out in jail?
My solution to all of this "white collar crime" is to let them sit in a cell right alongside the other criminals because they are no better.

Feb 08 09:57 AM

[henarl:]

He's obviously spending a big chunk of that 50 billion of other peoples money on fancy lawyers to keep him in his penthouse and defend him in his upcoming trails. The judge should have confiscated that money in the interest of his victims but lawyers always get paid ahead of victims. Such is our system of lawyer/judges favoring their own class.

Feb 08 10:48 AM

[ussmls7:]

For every action,there is an equal and opposite goverment program.

Feb 08 04:11 PM

[Dweezil:]

All I can think of with Madoff is George Carlin's "Capital Punishment" bit from "Back in Town". Sure he was talking about laundering drug money, but I like to think the idea applies here.

Look it up if you don't know what I'm talking about, but Monday Night Crucifixion sounds like a plan.

Feb 08 07:41 PM

[auto44:]

I suspect that madoff will die in jail unless some president pardons him for big dough, like they did Mark Rich about eight years ago. Any way I think the thoughts of what will happen to him are probably tourtuing him every day and in the end it will all be very unpleasant for him. What bothers me is all the other Madoffs out there who are known and are getting a free ride. all those cooked books and no perpertraters accused much less lockked up.

Feb 08 09:51 PM

[ROLEX18:]

I like Mr. Bernie Madoff,you are all jelous that will never make even 0,00001% of what he made and what sits in his offshore bank accounts.
If I would live in New York I would write a book about Bernie, a positive book, he is a scapegoat on Wall Street that is based on cheating, stealing, lying.

Feb 09 12:57 PM

[Fremon:]

I watched the appearance of Markopolos before congress. He was very interesting in that he was assured that the information he provided was based on financial analytical reasoning. The SEC response was that they didn't or don't respond to tipster information. Yet there is some information that 54% of the concluded or cases undertaken come from tipsters and about 4% of cases undertaken or concluded come from the SEC internal investigations. If this be true (to my knowledge there was no dispute of this comment) then one has to wonder why the SEC never responded to his information on Madeoff.

Feb 11 05:27 PM

[Fremon:]

But the govt does protect us! We have military/cops/firemen/... security/laws, etc.


On Feb 08 09:50 AM The World's Worst Stock Picker wrote:

> The duty of the government is not protect you, is to protect the
> government. It is a Supreme Court opinion. Therefore, I am not surprised
> of the inaction of the SEC when presented with Madoff's scam. If
> SEC lawyers do not understand what a "collar" strategy is and how
> it works; then we as investors are truly screwed.

Feb 11 05:29 PM