Friday, January 16, 2009

Madoff vs. The Twilight Zone

The episode ends:

There goes Mernard Badoff. He's a successful Wall Street type who reminded his investors and all involved of an important lesson. The "reality" of something may be nothing more than trust between people. With his lies and deceit - he created a multi-million dollar castle in the air that exists only... in The Twilight Zone.
Okay, there is no episode with that ending dialog. And a character named "Mernard Badoff" never appears in the series. I admit it - I made it all up. So let's turn to reality and Bernard Madoff. I would argue that he is a character far weirder than any in the series.

As so often happens, reality trumps fiction. Madoff created a fantastic castle in the air bigger and grander than any Manhattan skyscraper. And it had a pretend value of $50 billion dollars.

And it appears that he wanted his Ponzi scheme entirely untethered to reality. If current speculation is accurate - this saga has approached the unreal. He never made any trades. No trades at all. Not a single one.

intitle:madoff a-single-trade | no-trades - Google News

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