Wednesday, February 18, 2009

Mad over Madoff

Not being a financial insider, I didn't lose or gain money with Bernie Madoff; he was unknown to me prior to his arrest.

Many people were burned by this guy, who has confessed to assorted crimes. Yet months later he's still out on bail, with restrictions on when and how far he can wander from "his" homes. He can enjoy all types of luxuries in a Manhattan penthouse and an oceanfront home in the Hamptons (Montauk, NY). He needs special permission to visit a Palm Beach, FL home; he can't use his jet and visit his French Riviera apartment & boat: they're off-limits, and his passport impounded. But should this guy and his family be allowed to enjoy any fruits of his scamming?

Any appearance of justice is elusive. Enron's Kenneth Lay had his multiple fraud convictions vacated (more than four-and-a-half years after Enron's collapse from systematic deception), when Lay (reportedly) died before sentencing... What will happen with this Madoff joker? Should the elegant wife & many family members he employed keep enjoying substantial wealth & earnings?

Where's Madoff Buried His Loot?