Forbes has lots of good stuff on Bernard Madoff’s crimes, including this one. Call me a cynic, but I particularly liked this guess by the author:
And now we are to believe that Madoff’s sons acted out of principle by shopping their father to the Feds. Is it possible, that once Madoff saw the end was nigh, he began orchestrating his own demise? That he decided the timing? It wouldn’t surprise me in the least if the lawyers sorting through this debacle find that in the days leading up to this, Madoff’s remaining wealth headed out to safe havens, untouchable either by his investors or the authorities–but perhaps one day accessible to his family. It’s just speculation, but Madoff is clearly a man who knows how to work a system.
Have you been following how many hedge funds and money management firms are owning up to having entrusted Madoff with their clients’ money? I understand the allure of a good fee, but these guys are going to go down in a hurry when they’re asked to repay their clients’ losses. I wonder whether the Antares boys are still boasting of a 100% occupancy rate for their UST project? It was supposedly fully rented out to hedge funds but if those funds are defunct, who will pay the rent?
Fascinating article (warning – totally unrelated to real estate) in today’s Times on a gang of Serbian ex-soldiers who are wandering Europe’s poshest cities robbing diamonds. They hit Harry Winston’s Paris store December 4th. We’re not Paris of course, but we do have expensive jewelry stores and we could use an upgrade in thieves after that gang went to the trouble of setting a SUV afire on Greenwich Avenue, hitting Betteridge’s in the ensuing confusion and then attempting an escape on a moped, for Crissake, and dropping the loot. We deserve better.
Greenwich Time has an article today on Greenwich serving as a new mecca for gay marriages. That’s fine with me – I’m a divorced father of three so you won’t find me pontificating about the sanctity of marriage. And I remember tales of my movie star grandmother ‘s friends zipping out to Greenwich for quickie marriages and then divorcing almost as soon as they returned to Hollywood, so it’s not as though the town hasn’t seen all this before.
I also wasn’t offended to read of a wedding planner in Cos Cob who refuses gay patronage because she “totally disagrees” with the concept. It seems to me she should be as free to act on her beliefs as a gay couple is to act on theirs. What I really would like to see is for the state to get out of the marriage business altogether but that’s unlikely, so … cheers to all.