Friday, March 13, 2009

What Madoff Made Off With-Who Will "Get It"??

I dunno, don't sound like much of a deal to me, a guilty plea on all eleven charges in return for a one-hundred fifty year sentence total-a life sentence, if you want to call that life. So yes, Bernard Madoff has or will in a sense pay for his crimes, having lost everything he ever worked for, i.e. swindled from his investors. It is by no means clear yet whether his wife will keep her home and roughly one hundred million plus dollars that is allegedly her own personal estate. This could figure into the deal at some future date, but that doesn't seem likely. She will probably have to account for the origins of her fortune, and will likely be able to do so satisfactorily. If this was a part of the deal, chances are we would know by now, wouldn't we?

So therefore, what led Madoff to make this deal? Why would the government make the deal, for that matter? They had him dead to rights, he had no defense to speak of, and even to this day claims he acted alone. Perhaps there is something going on in the background of which we are not being informed, but there again, at least officially, we have to take this at face value.

Only that's just impossible. I'm sorry, but somebody knows where Madoff has his money, a great lot if not most of it-if not all of it. I think somebody in the prosecutor's office is now in the sole possession of a certain set of secret bank account codes. As for Madoff, don't expect to see this guy doing hard labor. Don't expect any really big names to surface as co-conspirators. In fact, don't expect anybody else to surface.

And yes, do expect Madoff's wife to keep her holdings.

There is a chance, of course, that a great lot of the money will be returned to those from whom it was stolen. All but, say, about ten billion dollars of it.

1 comment:

Frank Partisan said...

He couldn't have done that scam without an assist, from brokers and politicians.