Posted on 04/14/2021 6:48:24 AM PDT by Shadylake
New York (AP) -- Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press.
Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.
(Excerpt) Read more at nbcnews.com ...
About that last.
Doesn’t New York have an inheritance tax?
Combine that with reducing costs for elder care after exposing them to Covid.
Want to bet the Democrats will take credit for any minor reduction in expenses?
I think he deserved to be in jail, but his crime does not really bother me. They were all greedy, rich liberals who should have known that there was something fishy about 12% with zero risk. They figured that Bernie was one of them, and that he had the secret sauce that we deplorables could not cook up. He was a criminal but his victim’s greed and hubris drove them into his arms.
There is a bit of ‘buying stuff out of the back of a van and acting surprised when it’s stolen’ thing going on for sure.
Kind of like bit coin? What do I know..?
That’s how all scams work.
You have to find a mark who is a little crooked.
I read that over 75 percent of what was lost in Madoff’s scam has been recovered by the Trustee. If so, that is truly amazing.
Not all. Some of his biggest victims were very good quality charities for war orphans and Jewish refugees from Siberia and the like.
“There is a bit of ‘buying stuff out of the back of a van and acting surprised when it’s stolen’ thing going on for sure.”
That’s a good way to put it!
Biden’s team broke Bernie’s record
Fact: Half of Maddoffs clients lost no money. Carl Shapiro wrote a $625 million check to stay out of prison.
My daughter works at the mental hospital at Butner. She said Madoff worked in the prison kitchen and used to give financial advice to his fellow inmates.
“Some of his biggest victims were very good quality charities”
I am sorry that worthy charities were harmed, but some of the blame needs to go to the fiduciaries that were supposed to be watching the money. They should have known better.
“his scam worked so well because the people he fleeced thought they were getting one over on other suckers”
Scams like this work only because the victims are a little bit crooked themselves.
So true. SS structure is indistinguishable from a criminal enterprise.
RIH
Bernie looked like an amateur after seeing Biden’s infrastructure scam.
“What a shame. Da poor children.”
Could be. I always figured that the “loss” reported included fake “earnings.” So perhaps 75% of the original investments were recovered.
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