At long last, there is some semblance of justice taking place. Bernie Maddoff pleaded guilty to 11 counts in Federal court this morning. The judge has ordered him to be held in jail till sentencing on June 16th. Woot! Woot! Now I say - go after the wife and the $60+ million she has in assets. There is no way in the world, she can claim legitimacy to these assets - she DIDN'T WORK. C'mon - a guy who has the audacity to mail (USPS) millions of dollars worth of diamonds, to try and hold on to those assets - nope LIARS, LIARS!!
I truly understand and have empathy for those who have been robbed of their retirement funds and livelihoods - and to see Maddoff in jail, will never be enough solace for them. I don't have the answers, and all of that money will never be retrieved. But to know that he no longer can scam hard working people, to line his wallets and expensive tastes - has to help alleviate their moods a wee tad.
I should hope now, that the investigation continues, as this one man COULD NOT have handled this alone. Possibly his sons and others were aiding him in this crime. Time will tell. At least he will not be sleeping in that $7 million dollar penthouse apartment - EVER AGAIN!!
One last note - a better system of checks and balances needs to be laid out - to ensure this never happens again!! I should hope this is high on the priority list for Wall Street.
Be back.....Later......
