Madoff Guilty Plea Expected

Tuesday, March 10, 2009, PM | Leave Comment

USA Today ran an article about “Madoff guilty plea expected; trustee’s found only $1B so far” By Kevin McCoy. Bernard Madoff is expected to plead guilty to 11 criminal charges with a combined maximum penalty of 150 years in prison, enough to all but ensure the disgraced financier dies behind bars, his attorneys said Tuesday. Reading the story a bit further, the author writes

“The announcements came in a court hearing at which Madoff – a onetime respected Nasdaq chairman now reviled as the mastermind of one of the largest financial scams in history – waived potential legal conflicts involving lead defense attorney Ira Lee Sorkin.”

Kevin McCoy states that Madoff was the mastermind of one of the largest financial scams in history. I read somewhere that it was “THE” largest financial scam in history to the tune of $50 billion and not “one of the largest.”

I read in another article that he was the greatest schmuck of them all. History has not produced a greater schmuck as yet. Maybe because the United States is the only country where he could create such a big scam worth at least $50 billion.

If it was the largest financial scam, then I think we should say so. If not, then what other scams of such grandeur and magnificence have been bestowed upon the people of this world and living in what era.

And another thing: “where did the money go?” Did he burn it? Only a schmuck of Madoff’s grandeur and magnificence would know that. I hope not. I hope and wish there is no one like him. But, as humans, we all know that is not possible. Maybe not of his stature, but there will be another schmuck like him in the future.

Read the story on usatoday.com in full: Madoff guilty plea expected; trustee’s found only $1B so far.

What do you think?

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