- Madoff’s druggie bunk bud
- JPMorgan, Drug Abuse Claims Added to Madoff Investors’ Lawsuit
- Goldman Sachs exec defends bonuses at ethics debate
- Citi Cancels a $4.5 Million Renovation
- Goldman Sachs Steps Up Political Donating After TARP Repayment
Madoff’s druggie bunk bud - NY Post
Newly filed court papers paint a bleak picture of Bernard Madoff’s present life — and a strippers- and drug-filled portrait of his past….
“Starting in 1975, Madoff began sending a longtime employee and office messenger to obtain drugs for himself and the company,” it charges.
“Drug use in the office was described as rampant and likened the office to the ‘North Pole’ in reference to the cocaine use…..
JPMorgan, Drug Abuse Claims Added to Madoff Investors’ Lawsuit – Bloomberg
JPMorgan Chase & Co. and Bank of New York Mellon Corp., custodians of Bernard Madoff’s bank accounts, were added as defendants in a lawsuit against the con man along with new claims that Madoff and others at his firm used stolen money for drugs and wild parties, lawyers for investors said.
JPMorgan held billions of dollars for Madoff and indirectly encouraged investments with him by selling Madoff-linked structured notes to investors, according to the California law firm Cotchett Pitre & McCarthy. Bank of New York acted as administrator of so-called feeder funds to Madoff and failed to carry out its duties to independently determine the value of his funds, the law firm said yesterday in a statement…..
Goldman Sachs exec defends bonuses at ethics debate – Reuters
Bumper payouts to bankers should be seen as part of a longer term investment in London’s economy, the vice chairman of Goldman Sachs International told a debate on ethics at St Paul’s Cathedral on Tuesday.
Defending lavish bonuses expected at the U.S. investment bank, Brian Griffiths said he was not “ashamed” of his bank’s compensation package, which has inflamed the bonuses debate…..
“I believe that we should be thinking about the medium term common good, not the short term common good… we should not, therefore, be ashamed of offering compensation in an internationally competitive market which ensures the bank businesses here and employs British people,” he said…..
Citi Cancels a $4.5 Million Renovation – Wall Street Journal
Citigroup Inc. canceled a planned $4.5 million renovation of its main office in Brazil that included an area for entertaining clients and a landscaped terrace called a “suspended garden.”
The New York company had hired corporate-architectural firm Athié Wohnrath Associados to overhaul three floors of its headquarters in São Paulo and was set to begin the renovations soon, according to people familiar with the matter. The job was supposed to be completed by early 2010, including a 1,000-square-foot office with a panoramic view for Citigroup’s top executive in Brazil…..
Goldman Sachs Steps Up Political Donating After TARP Repayment - Bloomberg
The political action committee of Goldman Sachs Group Inc. stepped up its donations in the third quarter of this year after the New York-based investment bank paid back its U.S. taxpayer rescue funds, Federal Election Commission records show.
Goldman Sachs had made $2,000 in campaign donations before June, when it repaid $10 billion under the Troubled Asset Relief Program. Between June 1 and Sept. 30, Goldman contributed $58,500 to federal candidates and committees, including $37,500 in September.
Similarly, New York-based Morgan Stanley made no donations during the first six months of this year and then contributed $157,500 between July 1 and Sept. 30, including $120,000 last month, according to FEC records…..
Tags: Bernie Madoff, Bonuses, Citigroup, Cocaine, Drugs, Goldman Sachs, Politics
