Tuesday, March 10, 2009

FUCT

No, not this guy.
If the Mac Man would have defrauded thousands of people of billions of dollars - they would have dug up his body to put it in jail.
But the financial geniuses at MSNBC seem to be on a roll these days. (I guess Rick Stantelli's 15 minutes are up.)
I can understand confusing Freddie Mac with Bernie Mac.
Or Sallie Mae with Ellie Mae.
But Bernie Mac with Bernie Madoff?

Could be that Mr Madoff will be having a lot of salad for dinner?

Mr. Madoff had a nice little hustle - swindle (the newly updated) 64.8 billion dollars from thousands of financial experts and "smart" people.
http://s.wsj.net/public/resources/documents/st_madoff_victims_20081215.html

When the 11 expected criminal counts are read this Thursday,
Mr. Madoff's expected punishment could be;
- 150 years in prison
- Mandatory restitution
- Forfeiture of all ill gotten gains (I'll get back to this later)
- And criminal fines
Bernie's total monetary liability could be close to $170 bn (the total amount of financial damage caused by the fraud).

But the real hustler might be Bernie's wife Ruth.
http://online.wsj.com/article/SB123605010820616231.html
I can see the wife of a drug dealing Pookie thinking that she can hide 100k in her sister's mattress. Or putting a beauty shop in her sister's name. Or parking a car in her cousin's garage.
But how does one hide a $17 million apartment and $45 million in cash and other assets?
How can she claim 60-70 million dollars in assets... separate from the money her husband stole over a twenty year period.
It's not like she saved that amount from the change from the weekly grocery bill.
No one is that thrifty.

Maybe Madoff will get some hard time - not some country club vacation.
I can just see it now..."Tiny, meet Bernie",
Then Tiny says, "Bernie, (like those you've swindled), you're now FUCT!"

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