Mr Ponzi
As expected yesterday in NY Madoff pleaded guilty on all the 11 counts and went to jail. Yesterday was his last day in his opulent $ 7 million penthouse apartment in downtown Manhattan over looking the Central Park.
He could be convicted for up to 150 years in his new but less opulent home-the prison cell.
Well. There was jubilation outside the court house by a large gathering of his investors. Most of them HNIs who invested millions of their dollars with Madoff without checking the status of their investment. They are too busy spending their huge returns Madoff was paying off before law caught up with him. What are they jubilant about ? That Madoff is off to the prison or they have all kissed goodbye to $ 56 billion of their personal wealth ? Putting him in prison will not get back their money. Simple.
" This is a fools paradise " said the icnoclastic George Bernard Shaw. As long as there are celebrity fund managers and stupid investors who blindly hand over millions to such celebs more Madoffs will be in the making. God Bless Investor Knowledge.
He could be convicted for up to 150 years in his new but less opulent home-the prison cell.
Well. There was jubilation outside the court house by a large gathering of his investors. Most of them HNIs who invested millions of their dollars with Madoff without checking the status of their investment. They are too busy spending their huge returns Madoff was paying off before law caught up with him. What are they jubilant about ? That Madoff is off to the prison or they have all kissed goodbye to $ 56 billion of their personal wealth ? Putting him in prison will not get back their money. Simple.
" This is a fools paradise " said the icnoclastic George Bernard Shaw. As long as there are celebrity fund managers and stupid investors who blindly hand over millions to such celebs more Madoffs will be in the making. God Bless Investor Knowledge.
posted by YesYes at
10:14 AM
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