Tag Archives: financial illiteracy

I have just one question

A Minnesota prostitute shacks up with a local millionaire, they do their thing for 20 years, he promises to always take care of her and sure enough, every quarter, continuing years after her john’s death, a check arrives from a Swiss Bank on a Madoff Securities account.

She moved into a new apartment, got a nice car, and like many associated with Madoff, gave away some of the money to charities and favored causes. She had a habit of reading the New York Times to keep track of the world she had intersected with in secret. Even after the man’s death a few years ago, the checks continued to arrive on schedule.

“Then one morning I pick up the Times, and there’s Bernie,” she recalls. “What’s he doing in the paper? I read the article and realized that my life was over.” Now she is struggling to find a way to survive, relying heavily on the generosity of friends. The check scheduled for the first week of January didn’t arrive, as she expected, and her car has been repossessed.

The Minneapolis Post, which reported this story, wants to know the name of the millionaire. I have a simpler question: this lady misses one check after 20 years and already is busted flat,living off the charity of friends and loses her car to the repo man, all in less than 19 days. That’s fast work from the car loan company and I suspect the bimbo hadn’t paying her bills for awhile, but what I want to know is, was there anyone involved with Madoff who wasn’t a complete financial imbecile? Noel can claim Alzheimers (for the same 20 years, I suppose)- what’s everyone else’s excuse?


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