Wednesday, February 16, 2011

Madoff Rip-Off Fall Out

I confess. I have a major Bernie Madoff fascination.
I've studied every article written about the case, particularly the Vanity Fair series and now the New York Times email yesterday.
That email came from Madoff  that came through to the world via The Federal Correctional Complex in Butner, N.C.

For this investigator, there's nothing like hearing/reading a criminals words fom his own mouth.
(Note how I intentionally left the word "alleged" in place before the word criminal.)
When a Perp talks, there's a whole world of learning in their words and between the lines.

I was particularly struck by this paragraph:

"While he acknowledged his guilt in the interview and said nothing could excuse his crimes, he focused his comments laserlike on the big investors and giant institutions he dealt with, not on the financial pain he caused thousands of his more modest investors. In an e-mail written on Jan. 13, he observed that many long-term clients made more in legitimate profits from him in the years before the fraud than they could have elsewhere. “I would have loved for them to not lose anything, but that was a risk they were well aware of by investing in the market,” he wrote.

Here's a link to full New York times Madoff email interview just out.

Now take the story a bit further.
Because Madoff isn't the only one will be making off.
So will the attorneys involved in the case... albeit their earnings are legal.
Most of my clients are lawyers and law firms. Without them, I'd be out of work.
And I truly believe many cases can be more chaotic and volatile than it already is were not for the lawyers, the attorneys who give pain, outrage, victimization
Litigation, or the threat of it, often causes the volatile to chill.However, war is pricey.

So by no means am I judging the legal system for fighting to recoup that money Madoff stole.
I'm just saying.... Wow. Read this:
Lawyers make millions off Madoff mess

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