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Bernie Madoff

May 11, 2011
Tangled Webs How False Statements Are Undermining America: From Martha Stewart to Bernie Madoff James B. Stewart The Penguin Press: 474 pps., $29.95
April 30, 2011 | By Kevin Baxter
Not the retiring type When Johnny Damon became a free agent last winter, there were few suitors for his services. "The Yankees were trying to get me back," he said Saturday. "I heard the Angels were talking. I don't think I got an offer from them, but I knew they were interested. " But it was the Tampa Bay Rays who showed the most love, offering a one-year, $5.25-million deal and the prospect of ample playing time. So far that decision has proven to be one of the best acquisitions of the season, with Damon hitting .266 and leading the majors with six game-winning hits and leading all designated hitters with 20 runs batted in. Passing up two contenders for a team that looked to be rebuilding was a curious move for a 37-year-old in the twilight of his career.
April 4, 2010 | By Irene Lacher
The many faces of Lily Tomlin are well known to television audiences, and with her current gig on the FX legal thriller "Damages," there's one more just as compelling. Tomlin, 70, plays Marilyn Tobin, the dispossessed wife of the Bernie Madoff figure, Louis Tobin, and a dark departure from the classic characters she introduced on "Laugh-In" 40 years ago. Ernestine and others are alive and kicking in Tomlin's concert tour and her Las Vegas show, "Not Playing With a Full Deck," which is returning to the MGM Grand from April 29 to May 5. She's also working on a "Desperate Housewives" spinoff, a mystery comedy featuring her character, Roberta Simmons, and Kathryn Joosten's Karen McCluskey character.
February 7, 2010 | By Scott Collins
At 52, Ross Mandell is built like an aging wrestler, with veins the size of phone cords webbed across Popeye-like forearms. But when he recalls what happened last summer, the macho exterior melts away. "I cried like a baby. I curled up in a fetal position in my bed and I wanted my mommy," the former chief of the brokerage firm Sky Capital said. "It was brutal." Mandell surrendered in July to authorities who accused him of masterminding a transatlantic stock fraud that used "high-pressure sales tactics" to bilk tens of millions of dollars from investors, with Mandell allegedly blowing the proceeds on luxury travel and adult entertainment.
September 23, 2009 | Stuart Pfeifer
Beverly Hills financial advisor Stanley Chais, accused of steering hundreds of millions in investor dollars to Bernard L. Madoff's Ponzi scheme, was sued this morning by California Atty. Gen. Jerry Brown. The lawsuit, filed in Los Angeles County Superior Court, seeks restitution for victims and at least $25 million in civil penalties. Chais operated three exclusive funds that offered returns of up to 25%. He told clients that he achieved the returns using a complex combination of derivatives, stock, currency and futures trading, Brown said.
I blame Bernie Madoff for this. Or more precisely, it was a midnight collision of Madoff madness, insomnia and cable's endless loop of films. Though if not for the saturation of news about the high-flying broker/con artist who trapezed across the financial markets to such devastating effect, I might have bypassed "Wall Street" in favor of something more mind-numbing. But this 22-year-old cut at the risky business of stocks and bonds turned out to be unexpectedly mesmerizing.
May 3, 2009
Re: "Madoff victims push for tax relief," April 27: The investors who gave money to Bernie Madoff did so in spite of the fact that he promised returns that were literally "too good to be true." Sure enough, his Ponzi scheme collapsed and some investors lost millions. In your article, Gordon Bennett, who lost $1.5 million, says, "I was victimized once by Mr. Madoff. I don't want to be victimized a second time by the state of California." Mr. Bennett, you were a victim of your own greed, and I fail to see why the taxpayer should pick up the tab for your poor judgment.
March 22, 2009
Re Michael Hiltzik's column, "How could savvy investors have been fooled by Madoff? Easy," March 16: Hiltzik's candor is refreshing. It's true that even smart, sophisticated people can be conned. But I can't comprehend why Hiltzik failed to mention the cardinal rule of investing: Diversify your holdings. We hear this advice constantly from financial experts, yet most of Madoff's victims ignored it and put all their eggs into a rotten basket.
March 16, 2009 | MICHAEL HILTZIK
I have a confession to make: I would have been fleeced by Bernie Madoff. Filled to the brim with years of prudent advice to know my broker, diversify my investments and perform my own due diligence, I would have placed my portfolio in his hands without a second thought. Like most of his investors, I would have made a rigorous investigation of his background, amounting to accepting the word of a friend who had his own money with Bernie.
March 15, 2009
Re "Bernanke the enforcer," editorial, March 11 We all know what happens in times like these: There are loud protests of disgust and new regulations, and then when the economy improves, we go back to ignoring the problem -- greed. I have another solution. Let's take a Bear Stearns building on Wall Street and turn it into a white-collar prison. Put a big plasma screen TV beside the doorway with a scrolling list of the inmates, their photos and descriptions of their crimes. Start with Bernie Madoff.
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