The Victims List: Why Bernie Madoff Is The Only Crook Who Went To Gaol

13 Sep

In case you didn’t know, today is not only Friday the 13th, an “unlucky” day in Western superstition.

It is also Yom Kippur. Otherwise known as the “Day of Atonement”.

A day of “love and forgiveness”, and “The day on which G-d forgives for the less desirable actions of His nation”, according to the Jerusalem Post.

Which is both an ironic, and an apropos theme to carefully consider, in the light of today’s post.

Ever wonder why Bernie Madoff so famously and publicly went to gaol for his ponzi crimes, when no other banker or “investment adviser” did?

Take a slow, careful, thoughtful look at the list of his victims below.

See anything in those names that strikes you?

From the Wall Street Journal, March 6 2009:

Fairfield Greenwich Advisors
An investment management firm
Tremont Group Holdings
Asset management firm
Banco Santander
Spanish bank
Bank Medici
Austrian bank
Ascot Partners
A hedge fund founded by billionaire investor, philanthropist and GMAC chief J. Ezra Merkin
Access International Advisors
A New York-based investment firm
Dutch bank
Union Bancaire Privee
Swiss bank
British bank
Natixis SA
A French investment bank
Carl Shapiro
The founder and former chairman of apparel company Kay Windsor Inc., and his wife
Royal Bank of Scotland Group PLC
British bank
BNP Paribas
French bank
Spanish bank
Man Group PLC
A U.K. hedge fund
Reichmuth & Co.
A Swiss private bank
Nomura Holdings
Japanese brokerage firm
Maxam Capital Management
A fund of funds based in Darien, Connecticut
A European investment manager with about $11 billion in assets
French insurance giant
UniCredit SpA
Italian Bank
Nordea Bank AB
Swedish Bank
A Swiss private bank owned by St. Galler Kantonalbank
Banque Benedict Hentsch & Cie. SA
A Swiss-based private bank
Fairfield, Conn.
town pension fund
Bramdean Alternatives
An asset manager
Jewish Community Foundation of Los Angeles
The largest manager of charitable gift assets for Los Angeles Jewish philanthropists
Harel Insurance Investments & Financial Services Ltd.
Israel-based insurance firm
Baloise Holding AG
Swiss insurer
Societe Generale
French Bank
Groupama SA
French insurer
Credit Agricole SA
French bank
Richard Spring
individual investor
RAB Capital
hedge fund
Banco Popolare
Italian bank
Korea Teachers Pension
A 10 trillion won Korean pension fund
Swiss Life Holding
Swiss insurer
North Shore-Long Island Jewish Health System
health system
Neue Privat Bank
Swiss bank
Clal Insurance Enterprise Holdings
An Israel-based financial services company
Ira Roth
individual investor
Mediobanca SpA
via its subsidiary Compagnie Monegasque de Banque.
Fred Wilpon
owner of New York Mets
Steven Spielberg
The Spielberg charity — the Wunderkinder Foundation
JEHT Foundation
A New York foundation focused on electoral and criminal justice reform
Mortimer B. Zuckerman Charitable Remainder Trust
The charitable trust of real-estate magnate, who owns the Daily News and U.S. News & World Report
Robert I. Lappin Charitable Foundation
A Massachusetts-based Jewish charity
Chais Family Foundation
A charity that gave to Jewish causes
KBC Group NV
Belgian banking and insurance group
Barclays PLC
British bank
French bank
Allianz Global Investors
The asset management unit of German insurer Allianz SE
Banco Espanol de Credito SA (Banesto)
A Spanish bank contolled by Banco Santander
CNP Assurances
French insurer
Swiss bank
Yeshiva University
A New York-based private university
The Elie Wiesel Foundation for Humanity
The charitable foundation of Nobel laureate
Leonard Feinstein
The co-founder of retailer Bed Bath & Beyond
Sen. Frank Lautenberg
The charitable foundation of the New Jersey Senator’s family
Norman Braman
former owner of Philadelphia Eagles
Jeffrey Katzenberg
The chief executive of DreamWorks Animation SKG Inc.
Gerald Breslauer
The Hollywood financial advisor to Steven Spielberg and Jeffrey Katzenberg
Kingate Management
hedge fund
Julian J. Levitt Foundation
Texas-based charity
Loeb family
Lawrence Velvel
individual investor
Fix Asset Management.
hedge fund
Genevalor, Benbassat & Cie.
money manager in Geneva
Banco Espirito Santo
Portugese bank
Great Eastern Holding
Singapore insurer
M&B Capital Advisers
Spanish brokerage
Oddo et Cie
French financial services firm
Royal Dutch Shell pension fund
Global energy and petrochemical company
Phoenix Holdings
Israeli financial services company
Peruvian financial services company
Fukoku Mutual Life Co.
Japanese insurer
New York Law School
law school in New York City
Nipponkoa Insurance
Japanese insurer
Sumitomo Life Insurance Co.
Japanese insurer
Swiss Reinsurance Co.
Swiss insurer
Aozora Bank Ltd
Japanese lender
UBI Banca
Italian bank
Taiyo Life Insurance Co.
Japanese insurer
Caisse d’Epargne
French bank
J. Gurwin Foundation
EFG International
Swiss private bank
Fire and Police Pension Association of Colorado
Pension fund
International Olympic Committee
Olympic organizer
Support Organization for the Madison Cultural Arts District
Wisconsin cultural organization
Credit Industrial et Commercial
French financial-services group
U.S. women’s zionist organization
United Association Plumbers & Steamfitters Local 267 in Syracuse
Local union pension and health care funds
Ramaz School
A Jewish school in New York
Congregation Kehilath Jeshurun
A synagogue in New York
The Maimonides School
A Jewish day school in Brookline, Mass.
Yad Sarah
An Israeli nonprofit
Kevin Bacon and wife Kyra Sedgwick
Hollywood actors
Eric Roth
Hollywood screenwriter
Henry Kaufman
Individual investor, former Salomon Brothers chief economist
New York University
Aioi Insurance Co.
Japanese insurer
Meiji Yasuda Life Insurance Co.
Japanese insurer
Mitsui Sumitomo Insurance Co.
Japanese insurer
Burt Ross
former mayor of a town in New Jersey
Genium Advisors
Swiss money manager
Sterling Stamos Capital Management LP
Investment firm with offices in New York City and Menlo Park, Calif.
Gabriel Partners
Money-management firm run by GMAC Chairman Ezra Merkin.
The Diocese of St. Thomas
Catholic church in the U.S. Virgin Islands
Phyllis Molchatsky
individual investor
Members of the Hillcrest Golf Club of St. Paul, Minn. and Oak Ridge Country Club in Hopkins, Minn.
country clubs
Bard College
University in New York
Martin Rosenman
New York City-based heating oil distributor
Marc Rich
Fugitive financier
Zsa Zsa Gabor
Hadleigh Holdings LLC
Miami firm owned by businessman Stanley Kriegler
Argus Group Holdings
Bermuda insurance and financial services company
Auriga International Advisors Ltd.
British Virgin Islands hedge fund
Repex Ventures SA
British Virgin Islands firm
SAR Academy
A Yeshiva school in New York
Picower Foundation
Florida-based philanthropy
John Malkovich
Sandy Koufax
Former Los Angeles Dodger pitcher
Tim Teufel
Former baseball player
Larry King
Talk-show host
Phyllis George
Former Miss America
Mark Green
Former NYC public advocate
Larry Silverstein
New York developer who is currently working with partners to rebuild the World Trade Center
Scott Rechler
CEO of RXR Corp.; Former CEO of Reckson Associates
Sources: WSJ reporting; Associated Press; the companies and charities

8 Responses to “The Victims List: Why Bernie Madoff Is The Only Crook Who Went To Gaol”

  1. Shawnster September 13, 2013 at 1:59 pm #

    Um let me guess. He ripped off Jews and Gentiles with equal passion. Probably fleeced a few NY judges as well, who no doubt pushed for the electric chair for Bernie. Even poor Marc Rich (recently deceased) lost a few bob and he was pretty sharp with ripping others off. Bernie paid dearly, his own son killed himself over the case. One could go on but the moral is to manage your own money and not trust a bank.

  2. Kevin Moore September 13, 2013 at 3:06 pm #

    The U.S.of A. is about 15 hours behind our time and the Hebrew day goes from sunset to sunset, so Yom Kippur in the U.S. would begin about 0900 tomorrow morning our time in my reckoning.

    • The Blissful Ignoramus September 13, 2013 at 3:30 pm #

      Sunset in the ME would be more relevant, I’d have thought.

      • Kevin Moore September 13, 2013 at 4:01 pm #

        Probably, I had the mindset of the Jewnited States stuck in my head.

  3. mick September 13, 2013 at 3:15 pm #

    Well there has to be a sacrificial lamb. That is how it works. And the real movers and shakers are normally high earning respectable people. You wouldn’t send a respectable banker to jail would you? Better to jail somebody who issues a dud cheque for a few hundred dollars.

  4. Ross Johnson September 13, 2013 at 8:25 pm #

    I went to Tony Abbott meeting in 2008 at Balgowlah RSL in which a lot of self funded retires wanted to know what was happening to their shrinking retirement funds. At his stage I was ignorant to who really pulled the strings and possibly,Tony was also.

    There is now doubt in my mind that Abbott and his inner circle,now know exactly what is happening. The revelation of the “Bail In ” scam, will be the most powerful tool to bring these criminals to heel.

    • mick September 13, 2013 at 9:18 pm #

      A few assumptions here Ross. You are assuming that Abbott is not a part of the game. Remember that he represents the interests of big business so will Abbott upset those who control the game? And if he does who will provide his side of politics with election funding in 3 years time?

      • Paul September 18, 2013 at 12:11 pm #

        I think Turnbull was meant to be their man in the Liberal Party. No PM can at remain ignorant of it, but the question becomes one of how far on board they are. At this point I don’t think Abbott is completely into it, but we’ll know for sure if Turnbull starts causing more trouble over the next two years.

Comments are closed.

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