Monday, June 29, 2009

Bernard Madoff gets maximum 150 years in prison. Lessons learned? What's worse: Lost of money or lose of trust? Some मदोफ्फ्स still out there today?

Bernard Madoff gets maximum 150 years in prison… the man behind the curtain? Is this good enough for him? Everything covered will be made open one day.
Here's the roll call of victims:
*Royal Bank of Scotland (RBS)BNP
*Paribas (BNP) (France)
*Banco Santander (STD) (Spain)
*Neue Private Bank (Switzerland)
*Union Bancaire Privee (Switzerland)
*Nomura Holdings (NMR) (Japan)
*Aozora Bank (Japan) whose top shareholder is legendary U.S. private-equity firm Cerberus Capital Management
*Elie Wiesel Foundation for Humanity, Yeshiva University
*Brigham and Women’s Hospital in Boston
*Jewish Federation of Palm Beach in Florida
*Steven Spielberg’s Wunderkinder Foundation
*The Tremont Group (a large hedge fund investment firm owned by OppenheimerFunds)
*Man Group’s (one of the largest hedge funds in the world) RMF, prominent business executives
*Sports team owners
*High-profile lawyers and law makers
*University endowments, university professors and
*Numerous members of the Palm Beach Country Club
Lessons learned? What's worse in Madoff's case? Lost of money or lose of trust? Do we still have some Madoffs still out there today? Can we be fooled again?



  1. It is all just horrific that something like this could even happen... so unethical and bold I might add and on such a large scale. To went undetected for so long with such volume cash and fluidity. I will be quite satisfied when all restitution has been paid in full. 150 years... now tell me at his many of those years will he really serve? Insurance measures on behalf of clients- These measures need to be implemented from the highest possible platform so this cannot happen again. Guaranteed there is still greed in our midst..

    Sandi Lemon
    Alliance For Change

  2. This is not at all horrific and no one should act surprised. This is a result of the financial system we live it. People like to blame this on the fact that the financial sector is unregulated, while this may be true, and it very much fraud people are inherently stupid.

    It can happen and will definitely happen again. People are easily fooled into the concept that they can turn small amounts of money into vast wealth by letting someone else do all the work. This is the same as gambling and the only person accumulating wealth is the person receiving all this money. Sure there are honest ones out there but the business itself is made just for this kind of activity.