Jul 28, 2009 11:31pm
Closing Arguments: Bernie Speaks Behind Bars
Email In a first prison interview today with an attorney in North Carolina, a reportedly buff-looking Bernie Madoff said he could not believe his massive Ponzi scheme succeeded for so many years. Madoff allegedly said, "There were several times that I met with the SEC and thought 'They got me,'" according to a San Francisco lawyer who met with Madoff for more than four hours on behalf of victims of the scam. So tonight we ask: Does Madoff's apparent surprise indicate the incompetence of the SEC or his own expertise as a fraud? Tell us what you think. You can follow "Nightline" anytime on Twitter: http://twitter.com/Nightline.
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Yes, it truly shows the SEC incompetence. They should have caught this long time ago.
Posted by: pkgirl561 | July 29, 2009, 12:13 am 12:13 am
It’s funny how MR.Madoff is getting punished(and he deserves it),and Obamma can take investers(TAXPAYERS)money and get away free as a bird.The only difference is Obamma tells us the lie and we don’t get an option to invest or not. We would be better off with both in prison.
Posted by: Spencer | July 29, 2009, 12:29 am 12:29 am
Ol’ Bernies statements only underscore the incompetence,corruption, and malfeasance in office of the public officials within the SEC, Federal Reserve and the other government regulatory divisions of this and the previous administrations, whose job it was to prevent and STOP these types of schemes from perpetuating. This oversight on their part has caused the closest thing to a complete meltdown of our economic system since the “Great Depression” and a rape of THE PUBLIC TRUST!!! I fully expect that we will be hearing more of “Bernie’s Jailhouse Ramblings” in the future and maybe he will tell us more… chapter and verse…perhaps naming names!!! Maybe the government prosecutors will be ready to pounce and send some of these perpetrators to join Bernie for a “long vacation”..The sweat valve has been turned open a couple of more notches…maybe they should take heed. The same should be said for certain members of the Congress and Senate. The public is now seeing for the first time the root causes for our current economic dilemma. absolute power corrupts ABSOLUTELY!!!
I am reminded of a famous quote:
” TRUTH is the mortal enemy of the LIE, and thus by extension, the TRUTH is the greatest enemy of the STATE.”
Joseph Goebbels propaganda minister for the NSDAP 1934
Keep talkin’ Bernie…some of us are listening!!!
Posted by: Nachthexe | July 29, 2009, 12:39 am 12:39 am
I think they are incompetent and corrupt.
Posted by: Arc | July 29, 2009, 12:42 am 12:42 am
Conservatives hate any kind of government regulation therefore the Bush/Chaney Administration appointed like minded conservatives who let investment companies run wild. It could have been a lot worse.
Posted by: James | July 29, 2009, 12:56 am 12:56 am
James … WHAT could be worse then the complete collapse of the U.S. economy ??? Look around you, at your friends situation, and the situation on the job front. In the immortal words of Dr. Phil, “HOW’S IT WORKIN’OUT FOR YOU???”
There’s a big difference between CONSERVATIVES and CRIMINALS !!!
Posted by: pro from dover | July 29, 2009, 1:11 am 1:11 am
Cheez! Is this one a no brainer! That Madoff was able to get away for so long with this massive felony that has ruined the lives of millions of citizens underscores the rank incompetence of the SEC of our failed government. This fact should have long since been obvious to everyone.
Until the people of this country recognize what the problem really is and start to demand performance from our rank incompetent, sit-on-their-overpaid-cans-and-do-nothing government employees, there will be more Madoffs and more failure across the whole spectrum of areas where the government is supposed to be protecting us.
Can you believe that Nancy Peelousy, Barney-Fife Frank and Christopher Dudd are still in office after the financial mess that was created by their total incompetence? Can you believe that Madoff did not get the death penalty?
Posted by: Proud Native American and Independent Voter | July 29, 2009, 1:26 am 1:26 am
Ironically, the Republicans’ ideologically inspired, pre-meditated gutting of the Federal Government’s regulatory agencies by the Bush Administration has turned out to be – in one respect – a possible ‘win-win’ for them. First, they remove the watchdogs that normally would hold the likes of Goldman-Sachs, AIG, Bank of America, etc. accountable, allowing obscene and ill-gotten short-term windfalls for a select few. Then when their political Ponzi scheme brings our economy to the brink of disaster, they now say that this only proves that GOVERNMENT is the problem and we should instead fervently embrace even MORE deregulation. Well, for the last eight years, they WERE the Government! With a straight face, they now contend that the only way to protect us from those free-spending, Socialist Democrats is to put THEM back in power.
It is disturbing to see that so many are falling for this line yet again, seemingly anesthetized to the policies and ideology of the Bush Administration that, by and large, produced this mess. For the Republicans to bristle with pseudo righteous indignation at the supposed fiscal irresponsibility of the Democrats and others is an insult. If we fall for this GOP double speak yet again, we’ve got only ourselves to blame.
Worse yet, it seems our only hope to finally get reasonable oversight and accountability at the Federal level rests at the feet of the hopelessly spineless Democrats. Only they could have a so-called ‘supermajority’ in the Senate, and still find a way to cave in to these Corporate Republicans who have shown by their unapologetic actions that their main objective is to bring down the President – and subsequently the entire Country – at any cost.
Fool me once, shame on you; fool me twice . . .
Posted by: Dave | July 29, 2009, 4:02 am 4:02 am
This article was about Madoff, not Obama Remember who was in office before him, when all this mess started, plus the bailouts, plus the recession, plus the war. Put the blame where blame is due.
Madoff should have been caught before, and thank heavens he is in prison. Both him and his wife were so arrogant. I believe she is just as guilty has Madoff, and she got off light. They lived in high style as these people lost everything.
Posted by: smt | July 29, 2009, 7:14 am 7:14 am