Posted on 12/11/2010 7:36:07 AM PST by Ladycalif
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested for running a gigantic Ponzi scheme that shattered thousands of lives around the world.
(Excerpt) Read more at nytimes.com ...
Do you have a source that the sons had any type of immunity?
Big Investor: “So Bernie, are you going to pay us back?”
Madoff: “I can’t! I’m broke!”
Big Investor: “Is that a picture of your family? Nice family!”
Exactly! No way the kids could work there for years and not know what was going on. Young Madoff killed himself because the heat was now coming down on him. Bernie’s confession kept the kids out of jail, but the lawsuits the trustee just filed against the family were going to blow away the ‘kids didn’t know, Bernie did it all on his own’ defense.
Hate the pain it caused some of the family, but I hope they don’t let Bernie attend the funeral. I would like him to sit in jail alone, contemplating how he has ruined the lives of everyone he professed to love.
This^^^^^^^^^ and there was probably many more involved. You don't keep track of billions with just a handful of people
Eventually can sometimes seem like a long time.
I figured that Bernie intended for his scam to last until his death. At that point his family would be wealthy and protected (Bernie would rig it so that he posthumously took all of the blame) and he would go to his grave having lived every day as a billionaire hero.
The 2008 financial collapse exposed the scam about 10 to 15 years too soon. That's all.
Yes, this little child is the victim of a criminal grandfather and the selfish act of the father. What a heritage. How could anyone do such a thing with a little boy in the house? The child is the only one I have any sympathy for. Prayers for him.
The tragedy of materialism over morality.
I am so thankful that during my life I experienced the challenge of poverty and found purpose. Grateful that my children were also similarly blessed.
Lessons that socialists overlook: strength of character is derived by our own efforts - not by living on the labor of others.
One of the son’s wives filed for a divorce that was orchestrated with the timing of Bernie’s arrest. But it was seen by the Feds as Kabuki and the action has been stopped by the Feds while the investigation continues.
The piper was calling.
The trustees were on their way to taking away the sons’ money.
And the feds were on their way to jail the sons for tax fraud.
So one of the boys took the coward’s way out. We’ll see about the other one.
“..What a heritage. How could anyone do such a thing with a little boy in the house? ...”
Unbelievable horror.
I’m choked up thinking about it, and choking me up is NOT an easy to do.
As a Dad myself - the FIRST responsibility is to protect your family. Period. No matter how bad your situation is, THAT is your primary purpose on this Earth.
That aspect is ironic. Maybe he learned to not care from his dad. ;-(
He killed himself over the money that he no longer had and the fact that he would most likely be in prison 2 years from now for tax fraud.
Cooperating witnesses = immunity?
Madoff’s Kin Eyed As Probe Grinds On
DECEMBER 11, 2010
http://online.wsj.com/article/SB20001424052748703727804576011852515747500.html
No sympathy for any of them here. Don't anyone try to say the family/inner circle knew what was going on...please...the one guy knew more than anyone else on the planet how to never pick a bad stock or mutual fund? RIGHT!
The real question to me is who did he pay off for decades to be able to run his sting - the SEC, etc. MUST have blood on their hands too.
Usually. It’s the inducement to testify.
Understood...and your point is well taken.
The most important thing I ever did in my life was have my kids; they made me better man. My job is to see them safely and sanely into adulthood.
Everything I did before them pales into insignificance when stacked up against the responsibility of teaching them to be good, decent people and citizens and to take care of themselves so they can prosper. Protecting them from the horrors of the world, and helping them deal with it when it touches them, as it does all of us eventually.
That’s the job. That’s the duty, the obligation, and the responsibility.
This guy just totally abdicated that responsibility and broke this kid before he even had a chance at a normal life; when he grows up, he’ll always know what his grandfather did (bad enough), and now what his father did - it’ll be the gossip of every school he goes to, every neighborhood he lives in...
Mortifying...absolutely mortifing.
It doesn’t have to be complete immunity. He may have cooperated in exchange for leniency.
I don’t understand how a spouse is exempt from testifying against a spouse, but a parent or child isn’t.
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