Bernie Madoff is dead. The Ponzi pyramid
scheme guru who stole mega millions from
fat cats. And in doing so shook the resolve,
comfort level, and faith of the rich. All of
whom trusted him because he delivered
a seemingly reliable return on investment.
Then suddenly it blew up. And their money
along with that annual revenue stream was
gone. Leaving some destitute. Others only
slightly bruised. Over a decade later most
have either adjusted to said deficit or died
themselves. Hence Bernie's exit closes one
of the greatest financial scandals ever.
How did he do it? First by always delivering
more than was expected. Fueling his revenue
stream by an ever increasing pool of gullible
investors. Second, he made it hard for them
to join his enclave. Knowing that exclusivity
enabled him to chose his prey. Finally he did
it all in public. Defying all to challenge his
firm's role as the industry leader in bespoke
private investment. Building a house of cards
that lasted long enough to become a reliable
institution. That is until the financial arena
beyond his control collapsed. Leaving him
with no choice but to give up and confess.
Who cares?
His two loyal sons were deemed innocent yet
His two loyal sons were deemed innocent yet
didn't escape the impact of his crimes. Both
preceded him in death. His eldest via suicide
post his father's conviction. The younger died
from cancer most probably fueled via guilt by
association. His widow Ruth lives in isolation
as a permanent house guest with her former
daughter-in-law in Old Greenwich. Hence
Bernie's familial legacy is death, destruction,
and dismay. Causing me to wonder what he
really thought in the end. Was his short term
gain worth it? Or was he too evil to even care.
What a total and complete schmuck.
