Article

2009-01-17 -Lurid Crime Tales-

Madoff's fund may not have made a single trade

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Posted by Fred 2009-01-17 00:00|| || Front Page|| [11139 views ] Top

#1 And Madoff's sons, who apparently run the brokerage side on the 18th and 19th floor, never noticed that there were no trades coming from the investment operation?

"Hey, Dad, how about sending some business up here? Who's giving you the better price?"

That SEC audit is looking increasingly incompetent. As in, my mom would have done a better job.

Posted by KBK 2009-01-17 00:29|| 2009-01-17 00:29|| Front Page Top

#2 KBK---my dawg would have done a better job than the SEC! And while we are on the subject of con men, marks, flim-flam artists, and general bunko, let's get some music to accompany our article about Madoff:

The Entertainer, by Scott Joplin:

As requested, all of AP's duplicates, each and every one, all six, all of them generated by his frozen fingers in the cold North woods, have been removed. AoS :-)

Posted by Alaska Paul 2009-01-17 01:49|| 2009-01-17 01:49|| Front Page Top

#3 A ponzi scheme from the begining and nobody or hardly anybody noticed.

Posted by phil_b 2009-01-17 02:34|| 2009-01-17 02:34|| Front Page Top

#4 Inflation hides fraud.

Posted by Bright Pebbles 2009-01-17 04:25|| 2009-01-17 04:25|| Front Page Top

#5 Encore!

It is astounding that it wasn't discovered by FINRA or the SEC. Pulling something like this off so big for so long is pretty amazing. Kinda makes you wonder if the employees weren't the only ones aware. Maybe an audit of the auditors is in order.

Posted by Nimble Spemble 2009-01-17 06:41|| 2009-01-17 06:41|| Front Page Top

#6 No ACTUAL trading going on eh? Well, that certainly answers the quesiton... "was there anyone else involved besides Bernie." This affair is about to become very, very interesting.

Posted by Besoeker 2009-01-17 08:46|| 2009-01-17 08:46|| Front Page Top

#7 AP, I think the cold up there has finally addled yer punkin. Either that or yer finger froze to the submit area.

Posted by Deacon Blues">Deacon Blues 2009-01-17 09:01|| 2009-01-17 09:01|| Front Page Top

#8 Deacon, like Madoff, there is a method to AP's madness. Open the first keyboard, give it a 3 bar 4-4 count and open the next, then the next, and so on.

Posted by Besoeker 2009-01-17 09:04|| 2009-01-17 09:04|| Front Page Top

#9 Har! AP visits the Muffler Man!

Posted by Frank G">Frank G 2009-01-17 09:13|| 2009-01-17 09:13|| Front Page Top

#10 Maybe an audit of the auditors is in order.

Hah! A three person shop in upstate NY, one of whom was the secretary and another was over 80.

The problem was criminally negligent regulatory oversight (the SEC) and lack of due diligence by the major organizations which invested substantial funds. It should have been easy to at least catch sight of the rat.

Posted by KBK 2009-01-17 09:39|| 2009-01-17 09:39|| Front Page Top

#11 Re: Enron's fake trading floor

Posted by tipper 2009-01-17 12:15|| 2009-01-17 12:15|| Front Page Top

#12 Something happened between the old man and the two pups, who squealed on him. They were eyeball deep in the sheeeit just like him. Would like to hear the "true confessions" involved. The whole pack ought to be coated in honey and staked to barren ground as buzzard grub.

Posted by Woozle Elmeter 2700 2009-01-17 12:53|| 2009-01-17 12:53|| Front Page Top

#13 The word in the conspiracy nut and anti-semitic circles is that everyone looked the other way until he started stealing from Jews.

Posted by Slonter Lumumba2615 2009-01-17 13:07|| 2009-01-17 13:07|| Front Page Top

#14 I consider FINRA, SEC, NYSEC all to be auditors as well. They probably suspected too. One guy was running a crusade with the SEC to get Madoff exposed. Why did he keep getting stonewalled? Lots more here we haven't seen.

Posted by Nimble Spemble 2009-01-17 14:11|| 2009-01-17 14:11|| Front Page Top

#15 It's global warming I tell ya! It was +43F last night. Raining heavily. Roads an ice rink. I was overheated, trying to cool down. My only solace, late night Rantburg. The fever was peaking, I posted the youtube video, kept getting Roadside America. So I assumed that I was not getting the post through. Desperate to maintain communication with fellow rantburgers before I succumbed to the malady, I kept reformatting like a madman, a madman, I tell ya! Then a successful post. Hooray!!! Ima saved! Then I looked at the trail of postings. Seven of them! I had almost created a pyramid scheme with them. I was ashamed. I asked for forgiveness from the mods. But it worked. The rain stopped, the temperature outside fell to 35F. Thank you Moderator Dr. White for cleaning up the trail of wreckage that I wrought in this article. Time for breakfast. G'Day, all.

Posted by Alaska Paul 2009-01-17 14:38|| 2009-01-17 14:38|| Front Page Top

#16 I hear it's so cold in NY Bernie Madoff has to keep his hands in his own pockets.
/ducks for cover.

Posted by tipper 2009-01-17 15:45|| 2009-01-17 15:45|| Front Page Top

#17 Something happened between the old man and the two pups, who squealed on him. They were eyeball deep in the sheeeit just like him

Yeah. Like the gig was up and he's 80 and won't have to spend as much time in jail. Especially since he's free on bail and will probably skip the country anyway. In the meantime, the pups will feign ignorance in the hopes of not having to spend any time in jail. Then, when this all blows over they will dig up the gold coins buried under the oak tree and drown their sorrows with drinks by the pool in a foreign country. I'd be happy if they just put all the regulators who had to look the other way in jail. Without them, the scam artists never would have gotten as far as they did.

Posted by Glolusing Barnsmell3409 2009-01-17 15:53|| 2009-01-17 15:53|| Front Page Top

#18 Florida fund manager 'missing'

An American fund manager responsible for millions of dollars of investors' money has been reported missing by his wife in Florida.

Police said they were searching for Arthur Nadel, 75, and investigating his investment company in Sarasota after clients complained of missing funds.

Big donor to democrat causes apparently. Not sure it's important enough to make a Rantburg TM post of it's own.

Posted by Bright Pebbles 2009-01-17 15:55|| 2009-01-17 15:55|| Front Page Top

#19 Apparently the SEC or someone actually did go out to inspect Mr. Madoff's books several times in recent years based on serious accusations of fraud. But somehow they never found anything wrong with what their former boss was doing.

Posted by trailing wife ">trailing wife 2009-01-17 18:03|| 2009-01-17 18:03|| Front Page Top

#20 RoadSide America ain't big enough to hold AP.

Also, don't prsecute Madoff... draft him.

Posted by .5MT 2009-01-17 19:23|| www.cybernations.net]">[www.cybernations.net] 2009-01-17 19:23|| Front Page Top

#21 But somehow they never found anything wrong with what their former boss was doing.

Possibly because an SEC compliance officer was married to Madoff's niece, who was the Madoff Investments compliance officer.

Love, Madoff And The SEC

YJCMTSU

Posted by KBK 2009-01-17 21:26|| 2009-01-17 21:26|| Front Page Top

23:55 Slonter Lumumba2615
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