Scott McNeil

Cramer's Mad Money - Paul Krugman Is Wrong (8/10/09)

First, and foremost, one must remember that Krugman sees his role as to carry the water for the Socialists who are in control of the message and the levers of government.

What About Madoff's Accomplices?

Since there were two Madoff firms--the legitimate Broker Dealer and the Ponzi scheme--I believe it is very possible, even probable, that he was deceiving his family. I know that my own wife and kids would believe their old man was just very good at what he was doing and not think much deeper than that.

But there are at least three others who I suspect will be spending time away. Peter, the brother, was too intimately involved in the day to day operation and would have known that the suspected reason the Ponzi scheme did so well was because profits from the trading operation were directed to the Ponzi scheme wasn't true. Therefore Peter should have know the Ponzi scheme was exactly what it was.

The fat woman--Bongierno (sp?)--who ran the Ponzi scheme's back office has to be gulity as hell. Somebody entered the fraudulent trades into the computer that generated the confirms and statements. That somebody might have been some air heads from Staten Island, but the woman who led them knew what they were doing.

The DiPasquale (sp?) guy has to also be guilty as hell--even more than the fat woman. He was Bernie's eyes and ears. It was him who held client's hands when Bernie was not around--which was a lot, especially in later years.

Associated Press--or some such media outlet--has said ten others will be indicted in the coming days. It would surprise me if any of those ten are Ruth or "The Boys." I'll bet it's Peter, the fat woman and the eyes and ears from the 17th floor and seven others from the world of the feeder funds.