Thursday, October 27, 2011

Bernie Madoff

Bernie Madoff 
An unwritten rule in jail is one that expects to render honor to whom is guilty of crimes against property. And who better than the man who has cheated half of America?

Remember Bernie Madoff? The American businessman convicted June 29 of 2009 to 150 years in prison for defrauding the Ponzi scheme through something like $ 65 billion is to large financial groups and private citizens, albeit wealthy, broke the news himself in a letter, sent to the family of his son in August 2009.

The letter was made ​​public after two years from the widow of Mark Madoff, son of the entrepreneur, who committed suicide in December 2010 because unable to withstand the pressure due to fraud made ​​by the father. The woman, Stephanie Mack, had written a letter to the father to tell her what was going on in the family, hoping to appease the evolution in informing family would be lost within the walls of the prison in Butner, North Carolina, in which is locked. The answer was in some ways chilling: "As you can imagine, is almost a celebrity in here, and are treated as if I were a boss of the Mafia. They call me Uncle Bernie is whether Mr. Madoff and can not go anywhere without someone give me a word of encouragement or solidarity. They are all very kind to me, and all of my health care, including jailers. They are much safer here than on the streets of New York. ""As I read these words, I felt the stomach close and get into a fit of anger," said Mack, who added: "My husband felt a strong pain over what happened, and I never thought to make him see the contents of this letter. "

As I said, "Uncle Bernie" has created the largest "Ponzi Scheme" of U.S. history. This system, named after an Italian who conceived in the early '900, provided investors with large profits on interest paid with the money of new investors. The game would hold up until Madoff was able to have sufficient liquidity to return the money or not. The bench jumped when, in 2008, at the beginning of the economic crisis, the total divestment REQUEST reached 7 billion U.S. dollars, a figure that the entrepreneur had on hand. A fall in Madoff's pyramid scheme, among others, Unicredit with 75 million euros, with Royal Bank of Scotland 445 million, and between individuals, John Malkovich and Nobel laureate Elie Wiesel. All enticed by a fixed return on investment at 10 percent, an interest which was not affected by the pleasures of the market. Madoff could all thanks to the reputation they built over the years that led him to call himself saw her Jewish Jewish Bond obvious paraphrase of James Bond, for its security and stability.

Some people say that among the causes of aggravating the financial crisis started in 2008 there was just the discovery of the fraud of Uncle Bernie, who is not in jail for another great time spent only. On 18 December 2009 has been the victim of an assault by a prisoner, described as a burly black belt in Judo with a past as a drug dealer, who wanted his money back. It was not clear if he was one of the victims of pyramid scheme or a prisoner to whom Bernie had given directions for an investment, the fact is that Madoff was able to realize, at his own expense, to hushed corridors of Wall Street which was quite another thing than they are accustomed to the environment of a prison, albeit not at maximum safety, such as that of Butler. Result of the meeting: broken nose, broken ribs, a collapsed lung, several cuts to his face. Following the incident quiet, both from the attacker, either by the victim, who spoke of tachycardia and consequential ill.

Silence from prison. Unwritten rule like the one that provides pay tribute to those who honor is guilty of crimes against property, or the reason for this reverence for Bernie, able to steal from those who are seen by a very large share of civil society the "thieves legalized, "the man who defrauds the 1 per cent. A reverence that offend, offends, angers those who are included in civil society but that does not disturb the reality in which Madoff is entered and where it will remain until the end of his days. A reality in which those who commit crimes against the person enjoys greater consideration, respect and admiration of others. Can 'happen to meet an investor disappointed, but the thing is resolved in a moment, with some bruising and shelter in a safer place than a street in New York, where you can' meet a man who has given hopelessness and frustration with both hands and that, in fact, has nothing to lose. Yes Despite the 65 billion scammed is better than all its victims. Protected in a prison by other inmates and revered, as a mob boss, while the victims are out there struggling with the consequences of his fraud, amplified by the crisis, alive and present for the past three years. With the pace of the liver in-law and all those who, in search of easy money, have fallen in his deception.

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