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Topic: Bernie Madoff Sent A Letter
To CNBC On Christmas Eve |
Bernie Madoff Sent A Letter
To CNBC On Christmas Eve
CNBC, by Scott Cohn
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Original Article
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Posted By:StormCnter, 12/26/2012 5:40:38 AM
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| The recent rash of insider trading cases may be a shock to some on Wall Street, but not to one long-time market player: Bernie Madoff. In a Christmas Eve letter from the medium security federal prison in North Carolina where he is serving a 150-year sentence for running a massive Ponzi scheme, Madoff tells CNBC that insider trading has been around "forever." He also rails against what he calls a lack of transparency in the financial markets, and says the growth of hedge funds is forcing market players to take outsized risks in order to earn decent returns.
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Reply 1 - Posted by:
uno, 12/26/2012 7:04:16 AM (No. 9083786)
Bernie´s biggest regret: He didn´t pay off enough democRats!
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Reply 2 - Posted by:
Lawsy0, 12/26/2012 7:34:01 AM (No. 9083808)
I´d like to see the envelop received by CNBC; it should have a stamp indicating the letter was from an inmate in a federal institution.
Financial lessons from Madoff would be like ettiquette lessons from the Kardashians or elocution lessons from MushMouth.
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Reply 3 - Posted by:
Johnny Angle, 12/26/2012 8:55:18 AM (No. 9083923)
Then he should have done some insider trading for his poor clients.
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Reply 4 - Posted by:
stablemoney, 12/26/2012 10:33:30 AM (No. 9084082)
What does Bernie Madoff know about the markets? He never bought anything. Just took the money and spent it. Made up statements and mailed them to the account holders. Bernie can speak more knowingly on duplicity, lying, and confidence swindles.
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