FWIW: ahead of the (Daily) News

Ruth Madoff waits for Dunkin Donuts' dumpsters to open

The tabloids have discovered what we all knew a month ago: Ruth Madoff’s back and Old Greenwich has got her. You’d think Walt would let her use one of the guest rooms up at 175 Round Hill Road, seeing as it was her husband’s crimes that paid for it, but no – she’s at her son’s house on Tomac, at the corner of Kearnan Lane.

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16 responses to “FWIW: ahead of the (Daily) News

  1. Anonymous

    Even if you despise her and firmly believe she is part of her husband’s thievery, you should not have revealed the address of an older woman living alone who has more enemies than she can count. Even the tabloids are not that cruel. I think you should delete the address.

  2. Walt

    Dude –
    I think Ruthie deserves a break. She lost a child, for Pete’s sake. That is a large price to pay. For any sin. So let’s leave her alone. You agree? Yes, I have a feminine side, you vagina.
    She is living in Old Greenwich, which is almost Cos Cob, so it’s not like she is living it up. You want to take her to brunch? She is kosher, I think, so you need to figure that out. I need bacon in the morning. Can you even get a bagel in Greenwich, or do we need to go to Westport?
    She could help round out the treatment. Plus maybe you could date her. She isn’t bad looking, and it will get Ms. McBeal to not take you for granted.
    Win -Win Dude!!
    Your Pal,
    Walt

    • I don’t think she deserves a break, Walt. The suicide of her son was tragic, but so too was that of that poor French bastard who threw himself out the window after realizing that, because of his naive trust in Bernie, he’d list every penny entrusted him by his clients and family? The hundreds if widows and old men impoverished far too late in their lives ever to hope to regain it? The man ruined so many lives and Ruth enjoyed the ride. If she ends up in a woman’s shelter, well good- she can serve her victims gruel.

  3. walt: i worried when you said you were a little blue the other day. are you better today? home watching the tennis at indian wells? really nice town, indian wells. eat at keedy’s when you go. or are you watching the golf? or law and order reruns? the only good ones are with jerry orbach. he’s the best. too bead he died so young. did you see CF crossed the 8 million hits marker? anyway, just checking in with you. tell me you are fine, please. you’d love all the women in short shorts here in south america. think about moving here when you retire and ditch the wife. you could tango all day. we think it’ll stink to come back to boring bedford. we might stay, although maybe uruguay and not argentina. PS: did you remember to turn your clocks ahead?

  4. Inagua

    Walt – You say that Ruth deserves a break, but you seem to forget that she already got her break — no prosecution in exchange for divesting all her assets but $2.5 million. I know $2.5 million sounds like chicken feed to you now, but before you met Bernie it was probably about all you were worth. Remember when Monica sold dresses and you rented the house during the summer? I hope that the eventual judgements against you put you back in that position. You are a greedy, social climbing old fraudster who should live a Ruth-type existence for the rest of your miserable days. Now, go trim your eyebrows.

  5. Inagua

    Chris – Your mention of the French guy who offed himself after his feeder fund lost everything with Bernie reminds me of the fact that of the dozen or so feeder funds Walt distinguised himself by charging the highest access fee for investing with Bernie. When asked by an underlying how to respond to potential investors who asked about the high fee, Walt relied, “Tell them we do superior due diligence.” Walt should suffer at least as much as Ruth.

    • When news of the Madoff scam hit Iknew there had to be a Greenwich connection and sure enough, there was Fairfield/Greenwich Group and Walter. The company still had a website up then, a day after the bust and there was a separate page for “due diligence” (I didn’t take a screen shot but if you’re curious, Google will yield it. Reading it, you’d think, because F/G told you so, that Madoff was just one of many funds they invested in, each investigated to their very teeth. In reality, of course, Walt was just sitting at his reserved table at Round Hil, conning money from his friends and handing it off (after subtracting a 20% fee for his due diligence and careful selection) to Bernie to steal. His son-in-law was doing the same thing with South American investors. Yup – jail time for both is the orderof the day but I don’t think they’ll ever be handcuffed, let alone jailed. I do wonder why.

  6. Inagua

    Walt will never be criminally charged. He was basically an unwittingly salesman of Ponzi scheme who lied to his investors. Neither is a crime because no SEC registered securities were directly involved. But Walt will almost certainly be civilly liable for false and misleading statements and unjust enrichment. However, the legal process is so slow that the Old Fraudster may die before he is convicted. Also, most of his money is probably unrecoverable because Bernie sent Walt’s share to the Cayman Islands, and Walt has had a long time to hide the loot. My guess is that Walt will only cough up a few pennies on the dollar of any judgement against him. BTW, Walt’s investors had an aggregate loss of about a billion dollars, which is roughly what Walt and the Boys took as fees from the Madoff “profits.” So Walt, in effect, stole the billion his investors lost. He is a very big thief without a shred of honor or conscience. I particulary resent his boilerplate statement that he is trying to settle the cases against him. If he had an ounce of honor, he would simply give up everything except his bank pension and the Greenwich house, and say, “I’m sorry.” Three other Madoff beneficiaries voluntarily did substantially that, but not the Old Fraudster.

  7. Anonymous

    His daughter, Alix, whom I personally like – was in front of me in line at Smart Kids (the toy store on Greenwich Ave) buying birthday presents with a completely unmarked charge card. Just black. No bank name at all – only her maiden name “Alix Noel”. I think there is some offshore something going on…

    As an aside, Alix’s husband is the jackass, not her.

  8. Walt? Walt? Say it’s not all locked up in your vault!

  9. Anonymous

    They are both assholes and not very good paddle players

  10. Anonymous

    They were all co-conspirators. Let ‘em rot in hell.

  11. Anonymous

    not all people who lost $ in madoff funds were wealthy. lot of misplaced resentment seen in press, as if investors were all affluent. regular middle class folks of modest means lost entire life savings as well.

    i would be shocked if someone at the top of every damned one of the feeder funds/advisors didn’t know what was going on.

    somehow i would think with the right encouragement, in a nice quiet remote setting where nobody can hear anything, a lot of money hidden money could be found and recovered.

    sounds like a job for the a-team.

  12. Inagua

    “… a lot of money hidden money could be found and recovered.”

    The owners of the missing Madoff money are well known. Walt and his partners have a billion; Stanley Chais got about the same; Fred Wilpon got about $400 million; Sonja Kohn got a few hundred million; Frank Avellino and Michael Bienes got a few hundred million; etc. The difficulty is getting enforceable judgements against these people. So far the only judgement against these biggies is $83 million against Wilpon, which represents only the last two years of his share of the swag. It is entirely possible that Wilpon will legally keep about $300 million of stolen money.

  13. Anonymous

    karma will pay back in spades.

    although, it’s too bad that in the current life someone doesn’t do likewise.