Tuesday, March 3, 2009

In Madoff asset search, wife's worth adds intrigue

I find it very frustrating that we still have very little information about one of the biggest Ponzi schemes in our nation's history. After reading this article I found out that Bernie's wife has $70 million in assets by herself. It is very difficult for me to believe that money is not part of what Bernie schemed from his investors. She probably knew what her husband was doing and she definitely had advance knowledge that he was going to come clean because she withdrew $15 million right before it happened. I don't understand why he isn't in jail right now for his crimes and it does us no good to let him continue living the good life rather than punishing him for his failure to cooperate with investigators. At this point he should simply make a deal with the government and provide details about what he did. He owes it not only to those who lost money with him, but also to the American people because for him to have pulled off such an elaborate scheme shows that the SEC needs revamping.

2 comments:

  1. How can you complain about not having enough information and then list off that his wife has $70 million? Of course she's going to say it's hers she doesn't want to go broke. I'm sure Bernie put alot of their stuff in her name before revealing his scheme.

    There is no point in making a deal with the government. Lack of disclosure was a problem before this was revealed. It is not a problem now. We know what he did. The scheme he carried out is not complex or new.

    I agree though, I think we need to start locking up people for white collar crimes. There needs to be a better sense of consequence.

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