Saturday, June 27, 2009

He Madoff like a bandit

For once in this time of financial chicanery can I say I see the government giving a proper response to one of these crooks. By charging all of Bernie Madoff's assets as well as those of his wife as part of the fraud conviction, the government finally said that marrying a rich crook does not make you a clean person. Contrast this with the way Lehman Brother CEO Dick Fuld "sold" a multimillion dollar Florida home to his wife for $100. I'm not mathematician here, but at a price of $14 million, he sold it for 0.00071% of the value. I don't think even the worst crack house, with homeless people smoking crack in the doorway, missing half the floors, and on fire, would lose that kind of value. There should be joint liability in financial crimes between husband and wife. It's not like these wives just sit at home oblivious to the work of their husbands, they need to know what is going on to keep the gravy train rolling.

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