Tag Archives: bernie madoff

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

It’s Astounding! The World Bank’s New Treasurer Is Former Lehman Bros’ Global Head Of Risk Management

30 Jun

“It’s astounding;
Time is fleeting;
Madness takes its toll.
But listen closely…”

You really can’t make this stuff up.

Remember Lehman Brothers?

The Wall Street bank whose collapse in September 2008 sparked the global meltdown known as the Global Financial Crisis?

It seems that putting the whole world inside a real-life Rocky Horror Show through your galactic incompetence, corruption, and/or “voyeuristic intention”, is just the kind of stellar accomplishment to earn you the attention – and the anointing – of the premier banksters on the planet:

World Bank Appoints Madelyn Antoncic as Treasurer

Press Release No: 2011/564/EXT

Brings “record of leadership, innovation, and integrity,” Zoellick says

WASHINGTON, June 23, 2011 The World Bank today appointed Madelyn Antoncic as its new Vice President and Treasurer, hiring an experienced senior executive from the financial industry who has been active in the regulatory and policy debate.

“Known for her forthrightness, I am delighted Madelyn is taking up this important role,” said World Bank Group President Robert B. Zoellick. “She brings to the Bank an extensive background in the financial industry and a demonstrated record of leadership, innovation, and integrity.

As Treasurer, Antoncic will be responsible for maintaining the World Bank’s high standing in financial markets and for managing an extensive client advisory, transaction, and asset management business. She will be responsible for leading seven Treasury business lines: the Capital Markets Department; Investment Management Department; Pension & Endowments; Quantitative Risk Analytics; Treasury Operations Department; Banking & Debt Management, and Sovereign Investment Partnerships.

Biographical details:

Antoncic began her career as an economist at the Federal Reserve Bank of New York where she carried out research on economic and money market conditions as well as on finance. In 1985, she began 12 years at Goldman Sachs in various posts, including as head of market risk management, special assistant to the co-vice chairmen and more than seven years trading structured products. She then had a 2-year stint at Barclays Capital as the Americas’ Head of Market Risk Management and Treasurer.

After leaving Barclays in 1999, Antoncic joined Lehman Brothers as Global Head of Risk Policy and subsequently Global Head of Market Risk Management; from 2002-2007, she served as Chief Risk Officer. In 2007, she was moved to an externally focused role as Global Head of Financial Markets Policy Relations. After the Lehman bankruptcy, Antoncic agreed to stay on for a year as Managing Director and Senior Advisor at the Lehman Estate to help maximize the value to Lehman creditors.

Since 2007, Antoncic has been active in the regulatory and policy debate, working with industry groups advising senior policy makers on regulatory reform and systemic risk issues. She was a policy member of the Counterparty Risk Management Policy Group (CRMPG) III and a member of the Institute of International Finance (IIF) Committee on Market Best Practices.

A U.S. national, Antoncic holds a Ph.D. in Economics and Finance from New York University.


David Theis: 202-458-8626

Broadcast— Natalia Cieslik: 202-458-9369

Did the World Bank also interview Bernie Madoff for the job?

Or did his prison sentence, and his little Ponzi scheme’s abject failure to shaft billions of ordinary people (he only screwed thousands … of wealthy people), preclude him from being in the running?

And on that truly inspirational note – Happy End of Financial Year to you all!

Sing along everyone …

It’s astounding;
Time is fleeting;
Madness takes its toll.
But listen closely…

Not for very much longer.

I’ve got to keep control.

I remember doing the time-warp
Drinking those moments when
The Blackness would hit me

And the void would be calling…

Let’s do the time-warp again.
Let’s do the time-warp again.

It’s just a jump to the left.

And then a step to the right.

Put your hands on your hips.

You bring your knees in tight.
But it’s the pelvic thrust
That really drives you insane.
Let’s do the time-warp again.
Let’s do the time-warp again.

It’s so dreamy, oh fantasy free me.
So you can’t see me, no, not at all.
In another dimension, with
voyeuristic intention,
Well secluded, I see all.

With a bit of a mind flip

You’re into the time slip.

And nothing can ever be the same.

You’re spaced out on sensation.

Like you’re under sedation.

Let’s do the time-warp again.
Let’s do the time-warp again.

Well I was walking down the street
just a-having a think
When a snake of a guy gave me an
evil wink.
He shook-a me up, he took me by surprise.
He had a pickup truck, and the
devil’s eyes.
He stared at me and I felt a change.
Time meant nothing, never would again.

Let’s do the time-warp again.
Let’s do the time-warp again.

It’s just a jump to the left.

And then a step to the right.

Put your hands on your hips.

You bring your knees in tight.
But it’s the pelvic thrust
That really drives you insane.
Let’s do the time-warp again.
Let’s do the time-warp again.

Think about it.

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