Wall Street Folly

Tags: bailout, Barack Obama, Bonuses, Compensation, GE, Goldman Sachs, Henry Paulson, Jamie Dimon, JP Morgan, Lloyd Blankfein, Murders, Robert Kissel, Scandal, U.S.. Treasury

• Goldman Sachs Reports 2009 Earnings Per Common Share of $22.13; Fourth Quarter Earnings Per Common Share were $8.20
• Obama to Propose New Rules on Banks’ Size, Trading
• Rep Issa: NY Fed AIG submissions “incomplete”
• US Urges Judge to Bar Geithner Role in AIG Lawsuit
• AIG Took Four Tries on Filing as Fed Asked to Withhold Data
• Fed’s Dudley: Opposes Move In Congress To Audit Rate Policy Read the rest of this entry »

Tags: AIG, Barack Obama, Conan O'Brien, Fed, Goldman Sachs, Jay Leno, John Edwards, Lawsuit, NBC, Politics, Scandal, Sovereign debt, Tim Geithner, U.S. Treasury, Warren Buffett

Tags: Jon Stewart, Politics, Scandal, Sex, The Daily Show, Videos

The alleged Galleon insider trading web expanded this morning with the FBI busting 14 more:

U.S. prosecutors charged 14 people, including a former employee at the offices of the Galleon Group hedge fund firm, as part of an investigation of an alleged $20 million insider trading scheme.

Craig Drimal, who according to court documents worked at the offices of Manhattan-based Galleon, was arrested today along with Zvi Goffer, Arthur Cutillo, Jason Goldfarb, Emanuel Goffer, David Plate and Michael Kimelman. Charges against the men include conspiracy and fraud, according to documents filed in New York federal court. Names of the other seven defendants weren’t immediately available.

Ex-Galleon Worker, 13 Others Charged in Insider Scam – Bloomberg

Tags: Busted, Galleon, Hedge funds, Insider Trading, Legal, Moody's, Raj Rajratnam

Tags: Bad Elvis impersonations, Politics, Rod Blagojevich, Scandal, The Daily Show, Videos

Will it be on Ruth’s summer reading list?:  More tales of Bernie  Madoff, the womanizer, are emerging as a former CFO with Hadassah reveals that not only did her family get screwed out of their savings, but she had an affair with him.  The book, “Madoff’s Other Secret: Love, Money, Bernie, and Me” which details Sheryl Weinstein’s encounters with Madoff, comes out on August 25.  We’ll be treated to pictures and according to Bloomberg “some intimate descriptions of Madoff”.   We’ll all have to wait to see if those are insights into his personality or his anatomy. Read the rest of this entry »

Tags: Bernie Madoff, Books, ponzi schemes, Ruth Madoff, Scandal, Sex

Poor Ruth:  If Ruth Madoff wants to buy something that costs over $100, the world’s gonna know about it.  That’s because she now has to document  expenditures over that amount and submit them on a monthly basis to liquidation trustee Irving Picard.  And if she buys something that Picard thinks is extravagant, he can take it up with the judge who might hit Ruth with a penalty.

According to the NY Post: Read the rest of this entry »

Tags: Bernie Madoff, Fraudsters, Living on a budget, Ponzi Schemers, Ruth Madoff, Scandal

The NY Daily News has given us a glimpse of how Bernie and Ruth Madoff lived:

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Tags: Bernie Madoff, Legal, ponzi schemes, Real Estate, scammers, Scandal

Poor poor Ruth Madoff. Literally. She’ll be giving up $80 million in assets, including her upper east side co-op. She’ll be able to keep roughly $2.5 million in cash.  While most people could do well with that kind of dough, it’s gonna be kind of hard for old Ruthie to maintain her formerly accustomed lifestyle. (Cue violins.) It’s not even clear if she’ll get to keep all of that money. Civil suits and legal expenses could certainly eat up a big chunk.(Cue whole orchestra.)

But now Bernie’s missus has another problem. Given that she’ll have to vacate her current crib, where will she go? That could be kind of a problem when no one wants to rent to you. Seems like the name Madoff comes with a certain amount of baggage, as does her maiden name, Alpern, which she’s been using to try to fool landlords.  So far, no luck.  According to the NY Post: Read the rest of this entry »

Tags: Bernie Madoff, ponzi schemes, prison, scammers, Scandals

After yesterday’s sighting of Ruth Madoff going downscale, riding the subway:  Sean Delonas’ cartoon from Page Six in today’s NY Post

Tags: Bernie Madoff, fraud, irony, Legal, ponzi schemes, prison, Scandal

After Governor Mark Sanford’s bizarre disappearance, return and ultimate revelation that he was carrying on with a “dear, dear friend” in Argentina: Sean Delonas’ cartoon from Page Six in today’s NY Post:

Tags: Eliot Spitzer, Politics, Scandal, Sex

The indignity!  Even when she goes underground, she can’t escape the prying lenses of the press: Ruth Madoff is photographed by the NY Post using a mode of transportation that she probably hasn’t taken in a forever: the SUBWAY! And the irony is that she’s captured sitting beneath a 99¢ sign.  Too funny. Read the rest of this entry »

Tags: Bernie Madoff, fraud, irony, Legal, ponzi schemes, prison, Scandal

Bernie Madoff seems to think that he should only serve a 12 year prison term.

Read his heart-rending plea below.  Have a hankie handie.  (Or more appropriately,  a barf bag) Read the rest of this entry »

Tags: Bernie Madoff, Legal, monster, ponzi scheme, prison inmates

Grasso would break bread with Spitzer, but only if he picks up the tab….

Tags: Dick Grasso, Eliot Spitzer, Hookers, Politics, Scandal, Sex, Videos

We’re rolling our eyes and simultaneously gagging: Bernie Madoff’s lawyer, Ike Sorkin, has filed a letter to the judge asking for leniency and less than a life sentence. Apparently Bernie is feeling lots of remorse and shame now, and he’ll even talk about it at his 6/29 sentencing hearing.

Ummmm…too little, too late, Bernie.  But the pitiful and transparent plea for mercy was inevitable.

According to CNBC, the letter also contained the following heart tugging statement:

“Thankfully, none of the fury expressed in the victims’ statements has been as shocking as the death threats and anti-Semitic emails that have been directed toward Mr. Madoff and his counsel.”

*Yawn*

Tags: Bernie Madoff, monsters, ponzi schemes, Scandal

Rene-Thierry de la Villehuchet’s widow doesn’t mince words.  She thinks that Bernie Madoff is a murderer and holds him responsible for her husband’s suicide death in December, 2008 after  the revelation that his firm, Access International Advisors, had lost as much as $1.4 billion with the Ponzi schemer. And of Ruth: she  doesn’t think that Bernie’s Mrs. knew about the scam, but she’s “not gonna feel sorry for her”…..

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Tags: Bernie Madoff, feeder funds, ponzi schemes, scammer, Videos

• George Soros: My three steps to financial reform – FT op ed
• Lawsuit alleges that Bernie’s sons knew all about the scam
• Donald Trump submitted a restructuring plans for the bankrupt casinos that bear his name Read the rest of this entry »

Tags: Bernie Madoff, Casinos, Financial Regulation, George Soros, ponzi schemes, scams, Scandal

Unbelievable.  Someone put the SEC out of its misery.  In a baffling move that only serves to make the them look even dumber, weaker and more pathetically useless than ever, the SEC bumblers let admitted Ponzi schemer Bernie Madoff settle civil charges against him without admitting any wrong doing.  SAY WHAT???  No wrong doing?  Are they f*cking kidding????  In their infinite wisdom the SEC did ban him from Wall Street, but then again, since he’ll likely be spending the rest of his life behind bars after his June 29 sentencing, BFD.  Seems like we’re not the only ones amazed…. Read the rest of this entry »

Tags: Bernie Madoff, Legal, Mary Schapiro, ponzi schemes, Scandal, SEC, Useless federal agencies

Bernie Madoff’s June 29 day of reckoning is fast approaching where the Ponzi scammer will be sentenced.  And 113 of his victims have written to the judge to tell him just how their lives have been shattered…. Read the rest of this entry »

Tags: Bernie Madoff, fraud, Legal, ponzi schemes, Scandal

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Tags: Bankruptcy, Bernie Madoff, Legal

No cuts, colors and blow drys for you!: Page Six tells us
that apparently Bernie's Missus has been uprooted and banned by the
Pierre Michel Salon on East 57th Street where she get her tresses
done.  Apparently many of the salon's clients were burned by Bernie:

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Tags: Bernie Madoff, Legal

Conjugal visit?  We'll guess probably not.   But there's Ruth Madoff,  clutching a cheapo umbrella and chewing gum (or something similar), as she made her way into the prison facility where Bernie Madoff is stuck behind bars. 

Tags: $50 billion, Banks, Bernard Madoff, Bernie Madoff, CNBC, Madoff, ponzi scheme, prison, Ruth, Santander, scam

Set your Tivos — 'Sir' Allen Stanford is being interviewed on the World News with Charles Gibson at 6:30.  He's expecting a federal grand jury indictment within the next two weeks.  And if you see him photographed in the same clothes over and over in the future, it's because the feds left him with little money and not a whole lot of clothes in the seizure of his assets…..

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Tags: Allen Stanford, Legal

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Tags: Andrew Cuomo, Bernie Madoff, Legal

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Tags: Andrew Cuomo, Bernie Madoff, Lawsuit