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Bernard Madoff has admitted that he cannot believe he got away with his $65bn fraud for so long, in his first interview since being jailed.
The disgraced financier chose to lift the lid on his crimes to lawyers who represent victims of his Ponzi scheme. According to San Francisco attorney Joseph Cotchett, Madoff was “very candid” and an “absolute gentleman” during their four-and-a-half hour meeting…
Madoff also admitted that “there were several times that I met with the SEC and thought ‘they got me’”…
It appears that Madoff was keen to speak to Cotchett to try to exonerate his wife. ABC News quoted Cotchett saying: “He cares about Ruth, but he doesn’t give a —- about his two sons, Mark and Andrew.”
Madoff is serving his sentence in the Butner Federal Prison, a medium-security facility in North Carolina.
Maybe if the SEC had investigators and administrators worth a fraction of their paychecks – maybe if they paid attention to their job description – he wouldn’t have belief problems. He’d be serving the second decade of his sentence by now.
Someone please tell the media NO MORE MADOFF STORIES PLEASE.
The conservatives will try to do shameless self-serving history revisionism on this point, but don’t let them fool you:
a negligent, ineffective SEC was part of the GOP plan.
The WANTED this.
Why is anyone surprised? The SEC was just more “burdensome government regulation” that the Republicans hate. They’ve spent their time in office crippling and hampering and sabotaging oversight of the market. And we all know how that turned out.
Please let me know when I can return to this site and enjoy it once again. That will be when reporting on that crook stops along with reporting on how all the rich snobs suffered a .0005% blow to their portfolios and the few who lost everything have to get jobs now like the rest of us who don’t even have jobs nor ever were rich and snobby. I don’t feel sorry for any of them.
Phydeau,
Ryte on!
The conservatives are going to pretend that massive corruption and waste “just happened” or that the liberals caused it.
But they HATED regulation. The purposely did nothing as they saw this train wreck of an economy coming.
They WANTED this to happen.
Why? Because they don’t fear depressions — the rich just get richer.
Right now, people with money, are buying up properties and other investments at fire sale price.
Bernie is small fish. It’s the $1.2 quadrillion in derivatives gambles that threaten us all. That and Goldman Sachs.
See here:
http://derivative.tk
I work for tv. When I do liveshots, I don’t get a special barricade to keep the public away. It must be great to work in New York, where news people are important.
#7 dumb southerner
I love it!
If the SEC weren’t on the take, maybe they’d be interested in regulating the industry.