Wall Street Folly

• Madoff Beaten in Prison
• Madoff computer programmers nailed
• SEC on Lehman Oversight: Not Good Enough
• Pelosi Tactic for Health-Care Vote Would Raise Legal Questions
• Alvarez & Marsal Gets $247 Million for Advising Bankrupt Lehman
• SEC probes TheStreet.com’s finances Read the rest of this entry »

Tags: Barack Obama, Bernie Madoff, Healthcare, Jim Cramer, Lehman Brothers, Mary Schapiro, Nancy Pelosi, Obamacare, Politics, prison, SEC

• Bernie Madoff, the $19B Con, Makes New Friends Behind Bars
• Buyout Pioneer Kravis Aims to Remake KKR Like Buffett
• Goldman Sachs Bars Cash Bonus for Top Officers
• Goldman Sachs Stock Bonus Plan to Defer Compensation Expense
• UK: Revenue to clarify bonus rules
• UK: Lawyers search for loopholes in supertax
• Moody’s Analyst: No Threat To US, UK Triple-A Ratings Now
• Ex-UBS Banker, Swiss Lawyer Declared U.S. Fugitives Read the rest of this entry »

Tags: Bernie Madoff, Bonuses, Compensation, Goldman Sachs, Henry Kravis, KKR, Moody's, ponzi schemes, prison, scammers, Taxes

Scammer Marc Dreier’s posh 3,000 sq foot $10.4 million apartment at apartment at 151 East 58th St is on the auction block today, contents and all — which apparently even includes a half eaten raspberry peach pie (maybe it’ll wind up on Ebay). Read the rest of this entry »

Tags: Marc Dreier, prison, Real Estate, scammer

• CIT Calls Bailout Unlikely, Fueling Speculation of Bankruptcy
• CIT woes don’t bode well for holiday
• Bayou’s Israel Gets Longer Sentence
• Eleven Accused of Insider Trading by SEC
• Madoff Accountant Waives Indictment, May Plead Guilty Read the rest of this entry »

Tags: Bankruptcy, Bayou, Bernie Madoff, CIT, fraudster, Hedge funds, Insider Trading, prison, Sam Israel, SEC

Another unpleasant outing for Ruth Madoff?: According to Saturday’s Page Six, Bernie’s Missus was out for dinner at California Pizza kitchen on the upper east side.  Not only were other diners said to have told waiters not to serve her, but  sounds like the now-on-a-budget Ruth was also slapped down when trying to use an expired coupon on her dinner.  And there was apparently, at least some momentary good news exchanged at the Madoff table.  She was overheard telling her female dining companion “I’m so glad! It’s just what we wanted” about news that Bernie would be locked away in Otisville, NY.  (Sounds like that news may have been erroneous; CNBC reported that Bernie would be serving his sentence at the Federal Prison in Butner, NC)

And in today’s Page Six, if you want to send Bernie mail when he’s in jail, there’s a  company out there that will help you do it — MadoffMail.com.  Read the rest of this entry »

Tags: Bernie Madoff, ponzi schemes, prison, Ruth Madoff

Read the rest of this entry »

Tags: Bernie Madoff, Legal, ponzi schemes, prison, 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

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

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

There is justice in the world….at least sometimes:  Bernie doesn't get to go back to the luxury of his cushy $7M co-op before his sentencing.  Instead, he'll enjoy his cramped prison cell, crappy food, and limited natural light…..

Read the rest of this entry »

Tags: Bernie Madoff, felon, Legal, prison, scammer

Bernie Madoff's mug shot was released earlier today.  Here it is from the NY Post.  That horrible smug, almost defiant smirk that we've seen so often looks a bit more grim. 

Awwwww….. Poor Bernie…NOT.

Tags: Bernard Madoff, Bernie Madoff, hedge fund, jail, Legal, mug shot, mugshot, ponzi scheme, prison, Ruth Madoff, swindler