Mark Madoff was the fourth suicide in the Madoff scam

Makes you wonder why the ol’ crook is snugged down in prison, enjoying three hots and a cot. Someone has cruelly suggested that people send dog leashes to Andy Madoff, but I think they’d be better directed to North Carolina, for Bernie.

9 Comments

Filed under Uncategorized

9 responses to “Mark Madoff was the fourth suicide in the Madoff scam

  1. Peg

    What did Bernie’s kids know? What did his wife know? Did they know about the Ponzi scheme? Suspect? If not – should they have known?

    I will never know the answers to these and other questions. And, I refuse to judge Mark Madoff for committing suicide. What seems clear, however, is that Bernie was a man without conscience and without consideration for what his enormous evil would ultimately spawn. It seems to me that there will always be a few people of Bernie’s ilk out there – willing to wreck the lives of others to make their own far more pleasant. All that the rest of us can do is to try to do our best to reject these destructive people from our lives, and run like the wind when they try to associate themselves with us.

    Mrs. Madoff may blame Bernie for her son’s death. Sadly, she is not without culpability herself.

    • Peg, I can’t speak for what the kids knew but Mark’s ex-wife, when questioned by her close friend and neighbor about Bernie back maybe 9 months before the end, when rumors were circulating, assured her that, while she had her problems with the son, “Bernie is salt of the earth”. That cost her friend $1 million. I’m positive that the ex-wife, in any event, had no idea of the fraud.

  2. anonster

    I dont get why Madoff is called evil etc. He;s a modern day PT Barnum, not like he sold guns or drugs

  3. Retired IB'er

    I swear this is the last post on the topic of the Madoffs for me.

    When I read comments about what the kids and their wives knew or didn’t know I am reminded of the Sopranos and the fantastic character study of Carmela Soprano, imagining them each as “thinking they were victims” as she did. Regardless of whether they “knew” (which I find it very hard to believe the wives didn’t) I think about the particular the story arch where Carmela meets with a psychiatrist and talks about divorcing Tony.

    Carmela (crying): He’s a good man, a good father.
    Dr. Krakower: You tell me he’s a depressed criminal, prone to anger, serially unfaithful. Is that your definition of a good man?
    Carmela: I thought psychiatrists weren’t supposed to be judgmental.

    Dr. Krakower: Many patients want to be excused for their current predicament because of events that occurred in their childhood. That’s what psychiatry has become in America. Visit any shopping mall or ethnic pride parade and witness the results.
    …You’ll never be able to feel good about yourself. You’ll never be able to quell the feelings of guilt and shame that you talked about, so long as you’re his accomplice.

    Carmela: You’re wrong about the accomplice part, though.

    Dr. Krakower: You sure?

    Carmela: All I did was make sure he’s got clean clothes in his closet and dinner on his table.

    Dr. Krakower: So “enable” would be a more accurate job description for what you do than “accomplice”. My apologies…
    Take only the children–what’s left of them–and go.

    Carmela: My priest said I should work with him, help him to become a better man.

    Dr. Krakower: How’s that going?

    Carmela: I would have to get a lawyer, find an apartment, arrange for child support…

    Dr. Krakower: You’re not listening. I’m not charging you because I won’t take blood money. You can’t either…

  4. Inagua

    Peg,

    You ask what did Ruth know? I say Everything. While I will never be able to prove this, all the evidence points to the fact that Bernie married into the Ponzi Scheme, rather than originating it.

    Bernie and his CPA father-in-law were selling the Ponzi as a team at a summer camp in the Catskills in the early 1960s. Avellino and Bienes, the top two original Ponzi salesmen, worked for the father-in-law. Bernie opened his broker/dealer business as a first job right out of college having never even worked in the securities industry. Bernie admits that his father-in-law provided the $100,000 start-up capital. Why did the father-in-law set Bernie up in a business that 22-year Bernie knew nothing about? Because it would be a better cover for the ever growing Ponzi than a small CPA firm. Ruth kept the books for Bernie in the early years. Ruth helped Bernie sign up a sucker at their fiftieth high school reunion. Conclusion: Ruth knew.

  5. Retired IB'er

    It is a real treat to watch well scripted and acted programs. There aren’t many out there, and even fewer can sustain it for long periods of time, but the writers/actors/directors of The Sopranos succeeded.

  6. Greenwich Gal

    I loved The Sopranos…Sunday nights just aren’t the same. Boardwalk Empire doesn’t hold a candle to The Sporanos although Mad Men comes pretty close.

    As for Ruthie – of course she knew. I am sure her freedom was part of the deal Bernie cut for telling all. I am sure the boys knew something was amiss as well, probably not in its totality – but if you had half a brain you could have figured it out. But sometimes, especially with one’s parents, it is too hard to see the truth. I feel bad for the guy, the depression must have been horrible. He should have owned up to his negligence and left NYC and tried a simple, honest life instead of trying to hang on to an Upper East side lifestyle living next to Bon Jovi.

  7. Old School Grump

    Retired IB’er at 11:22, I enjoyed your recap of that scene in The Sopranos, which I remember, and I think your comparison of Carmela and Ruth is dead on accurate.

    Separately, the few (and repetitive) press reports about Mark Madoff so far talk about him being broke. I understand the income gravy train had come to a halt, but why would his cash-available situation be so bad? Any chance he has deliberately structured his assets to benefit his children in a way intended to be beyond Picard’s reach, and perhaps these are dependent on his death to kick in? I wouldn’t normally speculate in such an a***ole fashion, but with this family nothing is out of bounds.