Madoff never bought one share of stock

[Chris]

NEW YORK (CNNMoney.com) -- Investors allegedly swindled in the largest Ponzi scheme in history reacted furiously when they learned Friday that Bernard Madoff didn't put any of their money into securities for at least 13 years.

Several hundred of the 2,350 Madoff creditors gathered at the U.S. Bankruptcy Court in Manhattan to learn about the status of their claims and to revile the man accused of stealing their life savings.

Irving Picard, the court-appointed trustee for the liquidation of Madoff's assets, told the crowd of angry investors that investigators, in their search of at least 7,000 boxes of financial documents, "found no evidence to suggest that securities were purchased for customer accounts."

Burned investors sound off on Madoff, and the SEC - Feb. 20, 2009

 

[manu1959]

and the best part ......if you made more than you invested you get to give it back......

 

[xsited1]

I find it unbelievable that a governmental agency didn't do their job.

 

[DavidS]

Fry this SOB already. I'm tired of hearing about him.

 

[manu1959]

Fry this SOB already. I'm tired of hearing about him.

yes guilty.....no trial ...no jury....just take him out back ....hey wait...we can send him to gitmo.....

 

[DiveCon]

Fry this SOB already. I'm tired of hearing about him.

how liberal of you

 

[DavidS]

Fry this SOB already. I'm tired of hearing about him.

how liberal of you

For the last effing time, I'M NOT A FUCKING LIBERAL!

 

[DavidS]

Fry this SOB already. I'm tired of hearing about him.

yes guilty.....no trial ...no jury....just take him out back ....hey wait...we can send him to gitmo.....

You know, Madoff DOES look a bit Afghani....

 

[DiveCon]

Fry this SOB already. I'm tired of hearing about him.

how liberal of you

For the last effing time, I'M NOT A FUCKING LIBERAL!

yeah, uh huh, sure thing

 

[editec]

Astounding!

Haven't we been informed that the SEC investigated Madoff in the early 90's? And were we not infomred that at that time the SEC didn't find any problems with his books?

If that is true how could they POSSIBLY have failed to notice that he was NOT buying and selling stocks?

This simply does NOT make sense.

Either he was investigated, and if we was, he must have had at least SOME stocks, or he was not investigated.

It cannot possibly be both.

 

[Chris]

Astounding!

Haven't we been informed that the SEC investigated Madoff in the early 90's? And were we not infomred that at that time the SEC didn't find any problems with his books?

If that is true how could they POSSIBLY have failed to notice that he was NOT buying and selling stocks?

This simply does NOT make sense.

Either he was investigated, and if we was, he must have had at least SOME stocks, or he was not investigated.

It cannot possibly be both.

His fake books indicated that he bought stocks, but he actually didn't.

 

[toomuchtime_]

Astounding!

Haven't we been informed that the SEC investigated Madoff in the early 90's? And were we not infomred that at that time the SEC didn't find any problems with his books?

If that is true how could they POSSIBLY have failed to notice that he was NOT buying and selling stocks?

This simply does NOT make sense.

Either he was investigated, and if we was, he must have had at least SOME stocks, or he was not investigated.

It cannot possibly be both.

His fake books indicated that he bought stocks, but he actually didn't.

On the other hand, maybe he put all the money in GM and Citi stock and he's so embarrassed he's telling them he didn't buy anything.

 

[editec]

Astounding!

Haven't we been informed that the SEC investigated Madoff in the early 90's? And were we not infomred that at that time the SEC didn't find any problems with his books?

If that is true how could they POSSIBLY have failed to notice that he was NOT buying and selling stocks?

This simply does NOT make sense.

Either he was investigated, and if we was, he must have had at least SOME stocks, or he was not investigated.

It cannot possibly be both.

His fake books indicated that he bought stocks, but he actually didn't.

My GOD!

You mean to tell me that the SEC checked his books but do NOTHING to assure themselves that they ore at least SOME realtionship to reality?

Okay, right after we burn Madoff at the stake?

Whoever was responsible for the SEC's COMPLETE FAILURE should be next,

While we're at it?

The BOND RATING AGENCIES who failed to note the risk of tose real estate back bonds need to be hanged or flogged or something truly mideval, too.

I am so fucking sick of discovering that these well paid genusises in public and private sectors turn out to be nothing but opver paid empty suits, folks.

It's time the American people started holding these people PERSONALLY responsible for their complete failure to do their jobs.

 

[Chris]

Astounding!

Haven't we been informed that the SEC investigated Madoff in the early 90's? And were we not infomred that at that time the SEC didn't find any problems with his books?

If that is true how could they POSSIBLY have failed to notice that he was NOT buying and selling stocks?

This simply does NOT make sense.

Either he was investigated, and if we was, he must have had at least SOME stocks, or he was not investigated.

It cannot possibly be both.

His fake books indicated that he bought stocks, but he actually didn't.

My GOD!

You mean to tell me that the SEC checked his books but do NOTHING to assure themselves that they ore at least SOME realtionship to reality?

Okay, right after we burn Madoff at the stake?

Whoever was responsible for the SEC's COMPLETE FAILURE should be next,

While we're at it?

The BOND RATING AGENCIES who failed to note the risk of tose real estate back bonds need to be hanged or flogged or something truly mideval, too.

I am so fucking sick of discovering that these well paid genusises in public and private sectors turn out to be nothing but opver paid empty suits, folks.

It's time the American people started holding these people PERSONALLY responsible for their complete failure to do their jobs.

Amen to that, brother.

 

[ABikerSailor]

You know......if it was ANY OTHER CITIZEN, other than someone who makes a million plus a year, they would be in jail right now, waiting 6 months to a year for their trial.

Madoff gets to eat better, live better, and has almost the same amount of freedom as everyone else. I know for a fact he's living better than me, and I don't steal, don't lie (if I don't want to tell you, I just tell you I won't tell you), pay my taxes (they're taken out of my retirement check automatically), and basically live like I'm supposed to.

Madoff didn't, and he's still at home.

I'm in agreement with some of the other posters on this thread. Obama is closing GITMO, there are still a lot of cells there, so why not empty GITMO, and then start re-filling it with investment fraud criminals. Madoff could be the first.

I mean.....hey....it's warm, in a tropical location, clean, and away from all the hustle and bustle of NYC.

I think we should send him there.

 

[editec]

Madoff is but an extremely egregious example of the problem, I fear.

I note that the BOND RATING AGENCIES which are at the very heart of the mortgage crises (as they mislead the bond buyers, thus making the whole system rotten at it core) are not on ANYONE's radar.

Why not?

They got paid handomely to inform people about risk and they FAILED ENTIRELY to do their jobs. They didn't just get it wrong, they LIED for money.

Just another example of how truly perverted this system has become.

The rich get away with (literally) MURDER in this society.

Their highly overpaid servants, those enablers which make their happy existences possible, ALSO get away with murder.

But if they were held to the same degree of responsibility for what they do as a hamburger flipper at Mc Donalds is held to do his job responsibly, this would be a far better world.