Thursday, March 12, 2009

Bernie Madoff Found Guilty

A 'sorry and ashamed' Bernard Madoff pleads guilty

International Herald Tribune — Bernard Madoff's victims got what they wanted to see, but not what they wanted to hear.
Saying he was "deeply sorry and ashamed," the disgraced financier pleaded guilty Thursday to perhaps the biggest swindle in Wall Street history and was led off in handcuffs to begin serving a sentence expected to be up to 150 years in prison.
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Madoff says felt compelled to deliver "at any cost"

Reuters — Bernard Madoff, who cultivated a worldwide mystique as he churned out amazingly steady returns for his investors year after year, finally admitted it was all a lie, saying he had felt compelled to deliver "at any cost."
If his thousands of customers were expecting deep insight into why he did it, they were disappointed.
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Madoff Victims: Gov't Missed Red Flags

CBS News — Victims of the Bernard Madoff Ponzi scheme have turned their ire from the primary source of their financial losses to the SEC, IRS and Madoff family members and employees who may have been involved the massive fraud.
Speaking with CBS News anchor Katie Couric, several victims expressed their emotions on the day that the 70-year-old Madoff pled guilty and was sent to jail, most likely for the remainder of his life. Their emotions ranged from hopeful to frustrated, with much of the frustration now aimed at the U.S. Government.
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