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.
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.
BERNIE MADOFF SINGS "IF I HAD A PONZI SCAM"
ReplyDelete(If I Were a Rich Man, Fiddler on the Roof)
WilliamBanzai7 (Fraudster on the Roof)
If I had a Ponzi scam,
Ya ha deedle deedle, bubba bubba deedle deedle dum.
All day long I'd be sitting in the Palm Beach sun.
If I had a good Ponzi scam.
I wouldn't have to work hard.
Ya ha deedle deedle, bubba bubba deedle deedle dum.
If I were a biddy biddy Ponzi,
Yidle-diddle-didle-didle man.
I'd buy a big gawdy mansion with rooms by the dozen,
Right in the middle of Palm Beach town.
And a fine Park Avenue Penthouse with a fleet of Mercede's and others below.
There would be one long staircase just going up,
And one even longer coming down,
And one more leading nowhere, just for show.
I'd fill my office with investor ducks and turkeys and geese to fleece
For all of Wall Street to see and hear.
Squawking just as noisily as they can.
Each loud "cheep" "squawk" "honk" "quack"
Would sound like a golden trumpet on my Ponzi scheming ears,
As if to say "Here is yet another wealthy yutz to schtupp."
If I had a PONZI scam,
Ya ha deedle deedle, bubba bubba deedle deedle dum.
All day long I'd biddy biddy bum.
If I had a good PONZI scam.
I wouldn't have to work hard.
Ya ha deedle deedle, bubba bubba deedle deedle dum.
If I were a biddy biddy Ponzi,
Yidle-diddle-didle-didle man.
I see my wife, my Ruth, looking like a rich momzer's wife
With a proper Bloomingdale's grin.
Supervising meals to her heart's delight.
I see her putting on airs and strutting like a Park Avenue trophy tuchas.
Oy, what a happy mood she's in.
Screaming at the servants, day and night.
The most important machers in Wall Street town would come to fawn on me!
They would ask me to advise them,
Like a Solomon the Wiseguy.
"If you please, Bernie..."
"Pardon me, Bernie..."
Posing megillahs that would cross an SEC Branch Chief's eyes!
And it won't make one bit of difference if i answer right or wrong.
When you're a Wall Street gonif, they think you really know!
If I were rich, I'd have the time that I lack
To hook then slice golf balls and pray.
And maybe have a seat on the NASD Board.
And I'd discuss the holy finance books like a big Wall Street macher, several hours every day.
That would be the sweetest thing of all.
If I had a PONZI SCAM,
Ya ha deedle deedle, bubba bubba deedle deedle dum.
All day long I'd biddy biddy bum.
If I had a good PONZI scam .
I wouldn't have to work hard.
Ya ha deedle deedle, bubba bubba deedle deedle dum.
Lord who made the Wall Street lions and the rich shnooks and lambs,
You decreed I should be what I am.
Would it spoil some vast eternal plan?
If I built the Mother of all Ponzi scams.
What chutzpah.
ReplyDeleteSurely Dershowitz will take her case pro bono.
Sometimes the corruption of the Criminal American Justice system works for you (as here in the case of the Chinese-walled, Madoff family...)
ReplyDeleteIn other cases your bad for being a pov/chav/ordinary nobody/serf...
Great system heh?
MADOFF MADOFF ON THE WALL…
ReplyDeleteWho’s the next biggest culprit of them all?
Is it we, the Madoff family?
Is it we, the Chairmen of the Fed that fostered the public fixation on bubbly returns and pumped the economy full of the exuberance of cheap leverage?
Is it we, the Chairmen of the SEC, who turned a blind eye to Wall Street excess and a deaf ear to a smart whistle blower?
Is it I, Uncle Sam, the one who collected inflated taxes from duped investors but let the regulatory system wither into a shriveled rag?
Is it we, the bankers and fund of fund managers who blindly sent their client’s monies to a common thief without any effort resembling prudent due diligence?
Is it we, the financial media that spent more time pumping the bubbles than investigating the markets?
Is it we, the country clubbers and wealthy idiots who told all our cronies that being a Madoff investor was the most exclusive club of all?
Is it we, the charitable fiduciaries that allowed our precious endowments to be managed by a scoundrel?
Is it we, the poor investors who allowed ourselves to be duped into thinking that monthly and annual absolute returns are the norm and not the exception let alone a fantasy?