Goldman had gone from betting $6 billion on mortgages to betting $10 billion against them — a shift of $16 billion. Even CEO Lloyd “I’m doing God’s work” Blankfein wondered aloud about the bank’s progress in “cleaning” its crap. “Could/should we have cleaned up these books before,” Blankfein wrote in one e-mail, “and are we doing enough right now to sell off cats and dogs in other books throughout the division?”
Read MoreUS diplomats doing little more than staying out of photographs while knowing the country they are engaging with is being defrauded by a US citizen, one has to ask, why are we there?
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Madoff’s relatives and former employees and anyone likely to have benefited from the largest Ponzi fraud in US history are being pursued by the bankruptcy trustee, Irving H. Picard.
Recently finished reading ‘No One Would Listen – A True Financial Thriller’ authored by attempted whistle blower Harry Markopolos about the Bernard Madoff $65B Ponzi scheme. Talk about a page turner. Also read...
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