Tuesday, March 03, 2009
It's Official: Mrs Madoff is Delusional
Bloomberg reported that Ruth Madoff's lawyers are purporting that the USD$45mm in muni bonds and USD$17mm in cash on depo at Wachovia that she possesses are "unrelated" to the Grand Ponzi. In other circumstances, a wife's claim to have independent assets might be credible, particularly depending upon how long she's been beneficial owner, how they were acquired, what she did in her professional life (if any), and so one should at least entertain the claim. In this instance, it just demonstrates she is utterly unrepentant and delusional. If her kids won't take her in, perhaps justice would have her spend her waning days in a Jewish Retirement home populated with Madoff investors and spouses of Madoff investors.