Bernie Madoff has died

[Longboard Horn 40,544]

 

[Enchubben 5,512]

avatar checks out

Edited April 14, 2021 by Enchubben

[WhatTheBuck 28,806]

Good riddance. 

[MNLonghornFUKM 8,822]

[Longboard Horn 40,544]

5 minutes ago, Enchubben said:

avatar checks out

But of course. Fuck that Ponzi scheming piece of shit!

[OneOfTheOutOfFocusGuys 2,098]

Dammit.  That dude owes me 20% on the money I gave him. 

[Cheeseweasel 26,438]

[F250 28,826]

I thought he was already dead.

Edited April 14, 2021 by F250

[Pato del Muerto 52,617]

Everyone hated him, except maybe bobby Bonilla 

[alincoln 2,385]

Cashed out early

[Guest Lobo]

To commemorate his passing, several of my friend's wives will be hosting special parties for Arbonne.  The savings will be significant, and if you wish to join their leadership teams, special opportunities are available.  

I will never understand how no trader ever noticed that no actual Madoff traders ever cleared any exchange.  They falsified trading records for investor statements.  And they pretended to be their own desk...but in 20 years, over $50bn in purported trades...never did any drunk employee at happy hour on Wall Street, no market maker, no broker-dealer regulator, no NASD watchdog, no clearinghouse IT guy, nobody ever blabbed to somebody else who would listen, "For all his volume, I don't know a single person who's actually executed a trade for them.  Don't know a single client-facing guy who's placed anything for them.  Had a non-qualified account liquidate so it could invest in Madoff and never even got an update on cost basis." 

Their firewall was damn near impossible to break but no two Wall Street guys ever sat down over drinks and asked each other, "He's a phenomenon.  Ever wonder how he does it?  I handle a separate account/SMA for one of his clients and they're very happy but if Bernie is really taking up this many tens of millions of shares of XYZ corp., shouldn't we have heard about that from them?  If his strategy is so fundamental and 20 years proven, how come in all that time...no company actually reports him taking on a substantial position with them?  This stuff is easy to obfuscate, but in 20 years with that many tens of billions churning........at some point...somebody should have talked by now, right?  Somebody would have to leak that Madoff's desk took on a 5% position in XYZ Corp., no?"  

How was that part possible?  

[Armybrat 40,920]

Covid got him?

[Gatorubet 30,321]

[You don't know me 1,161]

That's a shame.

[HouTex 1,894]

ISWYDT. He and his wife, as well as the other victims, did get back a bunch of their money.

[Armybrat 40,920]

No Curly Bill gif?

[SizzleChest 8,284]

1 hour ago, Longboard Horn said:

 

 

[Brisketexan 105,441]

Man.....this American era is creating so many graves to piss on.  I'm gonna have to drink a lot of coffee on my future road trips.

[Gil Bang 26,049]

His sister is a neighbor of my GFs mom. She lost her money too, and left NYC because of the shame. She uses her married name (widowed) and only her closest friends know.

[Aqua Buddha 14,624]

1 hour ago, Lobo said:

To commemorate his passing, several of my friend's wives will be hosting special parties for Arbonne.  The savings will be significant, and if you wish to join their leadership teams, special opportunities are available.  

I will never understand how no trader ever noticed that no actual Madoff traders ever cleared any exchange.  They falsified trading records for investor statements.  And they pretended to be their own desk...but in 20 years, over $50bn in purported trades...never did any drunk employee at happy hour on Wall Street, no market maker, no broker-dealer regulator, no NASD watchdog, no clearinghouse IT guy, nobody ever blabbed to somebody else who would listen, "For all his volume, I don't know a single person who's actually executed a trade for them.  Don't know a single client-facing guy who's placed anything for them.  Had a non-qualified account liquidate so it could invest in Madoff and never even got an update on cost basis." 

Their firewall was damn near impossible to break but no two Wall Street guys ever sat down over drinks and asked each other, "He's a phenomenon.  Ever wonder how he does it?  I handle a separate account/SMA for one of his clients and they're very happy but if Bernie is really taking up this many tens of millions of shares of XYZ corp., shouldn't we have heard about that from them?  If his strategy is so fundamental and 20 years proven, how come in all that time...no company actually reports him taking on a substantial position with them?  This stuff is easy to obfuscate, but in 20 years with that many tens of billions churning........at some point...somebody should have talked by now, right?  Somebody would have to leak that Madoff's desk took on a 5% position in XYZ Corp., no?"  

How was that part possible?  

Wasn't there a journalist who kept saying that for years and no one would listen?  I forget the details but he made the point that if Madoff was really running a $50B fund, his trades would move stock prices but they never did.

Bernie Madoff is exhibit A on why these vast conspiracy theories are all horse shit.  The only workable conspiracies are when a VERY small number of people know the truth.  Madoff's immediate family didn't even know.  Only Epstein and his gal pal knew the real extent of it.

[Johnny Sack 8,397]

35 minutes ago, Brisketexan said:

Man.....this American era is creating so many graves to piss on.  I'm gonna have to drink a lot of coffee on my future road trips.

There have been shitheads worldwide since time began.  There is nothing new under the sun.

[J.R. Juniors Junior Jr. 1,084]

Rest in Ponzi, Bernie

[Wally Fairway 5,589]

2 hours ago, Lobo said:

 

I will never understand how no trader ever noticed that no actual Madoff traders ever cleared any exchange.  They falsified trading records for investor statements.  And they pretended to be their own desk...but in 20 years, over $50bn in purported trades

How was that part possible?  

People knew, some reported him to the SEC. But his bonafide meant they didn't believe a further chairman of the NASDAQ was a crook

52 minutes ago, Aqua Buddha said:

Wasn't there a journalist who kept saying that for years and no one would listen?  I forget the details but he made the point that if Madoff was really running a $50B fund, his trades would move stock prices but they never did.

Bernie Madoff is exhibit A on why these vast conspiracy theories are all horse shit.  The only workable conspiracies are when a VERY small number of people know the truth.  Madoff's immediate family didn't even know.  Only Epstein and his gal pal knew the real extent of it.

Just like Enron there were a few who were calling bullshit. But the majority were happy to not know and/or willing to turn a blind eye and be happy with their profits (until they burned up on the paper they were forged on)

 

Read Too good to be true, by Erin Arvedlund

[Blotto 23,584]

2 hours ago, Armybrat said:

Covid got him?

Last year, Madoff's lawyers filed court papers to try to get him released from prison in the coronavirus pandemic, saying he had suffered from end-stage renal disease and other chronic medical conditions. The request was denied.
 

[RPM 26,360]

Fucks given?

[dingleberryswitzer 2,724]

1 hour ago, Brisketexan said:

Man.....this American era is creating so many graves to piss on.  I'm gonna have to drink a lot of coffee on my future road trips.

I just thought of a brilliant business idea. For a set amount of money(let’s say $40) my company will send you a 500ml vial for which you take a piss in.  Then you send back.  Then employees will travel to various cemeteries pouring your piss on a grave of your choosing.  A short video will be taken and sent, along with a certificate of authenticity and an affidavit saying your piss was discharged on their grave in the pattern you specify.  
Like a concierge grave  pissing service.  

[jeevsie 3,740]

If you can have elephant shit delivered, you can make this idea happen.

[bejezuz 329]

Death by bufu, one would hope.  

[riloh05 107]

opposite of rip...insert that here_____

[phdhorn 6,224]

What a deal!

[HornOnTheBayou 8,950]

3 hours ago, dingleberryswitzer said:

I just thought of a brilliant business idea. For a set amount of money(let’s say $40) my company will send you a 500ml vial for which you take a piss in.  Then you send back.  Then employees will travel to various cemeteries pouring your piss on a grave of your choosing.  A short video will be taken and sent, along with a certificate of authenticity and an affidavit saying your piss was discharged on their grave in the pattern you specify.  
Like a concierge grave  pissing service.  

I like where your head is at, but I want to do the actual pissing. If you set up a tour service where you pick me up and drive me to the grave, then we're talking. That way I can get drunk as a skunk with a bladder full of beer and I don't have to worry about driving. Call it Uber Urinate and take my money.

[DaggerHorns 3,102]

5 hours ago, Gil Bang said:

His sister is a neighbor of my GFs mom. She lost her money too, and left NYC because of the shame. She uses her married name (widowed) and only her closest friends know.

Sondra Wiener?

[Gil Bang 26,049]

9 minutes ago, DaggerHorns said:

Sondra Wiener?

Don't know, I never met her.  She lives in Boynton Beach.

[dingleberryswitzer 2,724]

1 hour ago, HornOnTheBayou said:

I like where your head is at, but I want to do the actual pissing. If you set up a tour service where you pick me up and drive me to the grave, then we're talking. That way I can get drunk as a skunk with a bladder full of beer and I don't have to worry about driving. Call it Uber Urinate and take my money.

Ok, how about a special toilet or urinal with a small projector that will project a persons face in the bowl or urinal.  

[Orange&White 5,539]

In a strange twist of fate, my son has a ring personalized for Bernie and it has his name engraved in the inner ring of it. So this hits ever so slightly close to home