Come for the politics, stay for the snark.

We’ve had enough carrots to last a lifetime. break out the sticks.

They traffic in fear. it is their only currency. if we are fearful, they are winning.

No one could have predicted…

Historically it was a little unusual for the president to be an incoherent babbling moron.

The willow is too close to the house.

So it was an October Surprise A Day, like an Advent calendar but for crime.

Perhaps you mistook them for somebody who gives a damn.

Teach a man to fish, and he’ll sit in a boat all day drinking beer.

Peak wingnut was a lie.

Come on, man.

Sadly, there is no cure for stupid.

The words do not have to be perfect.

Why is it so hard for them to condemn hate?

“woke” is the new caravan.

If you tweet it in all caps, that makes it true!

Usually wrong but never in doubt

My years-long effort to drive family and friends away has really paid off this year.

A snarling mass of vitriolic jackals

Never entrust democracy to any process that requires republicans to act in good faith.

They are lying in pursuit of an agenda.

Balloon Juice has never been a refuge for the linguistically delicate.

Republicans are radicals, not conservatives.

The poor and middle-class pay taxes, the rich pay accountants, the wealthy pay politicians.

But frankly mr. cole, I’ll be happier when you get back to telling us to go fuck ourselves.

You are here: Home / Politics / Domestic Politics / Another Confession

Another Confession

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More confessions in the Madoff scandal:

The top financial aide to Ponzi scheme architect Bernard Madoff pleaded guilty Tuesday to 10 charges including conspiracy, securities fraud, falsifying records and international money laundering.

Frank DiPascali, former chief financial officer for Madoff’s business, said the transactions were “all fake. It was all fictitious. It was wrong, and I knew it was wrong at the time.”

“I’m standing here today to tell you that from the early 1990s to 2008 I helped Bernie Madoff and other people carry out a fraud,” said DiPascali, 52, standing in Manhattan federal court in a dark suit and reading from a prepared statement.

He did not identify the other people, only the disgraced financier.

Each of the charges calls for five to 20 years in prison, and fines as high as $5 million, but a cooperation deal he signed will probably bring leniency.

I wonder if we will ever know how deep the corruption went. I still think his entire family had to know.

Reader Interactions

14Comments

  1. 1.

    Keith G

    With all else going on, hard for me to care about Bernie or the greedy gits he ripped off.

  3. 3.

    MattF

    I’ve always assumed that the Madoff boys kept the FBI’s number in their back pockets, just in case.

  4. 4.

    anonevent

    We won’t know how far it goes until all the papers from the Bush Administration are released.

  5. 5.

    Spiffy McBang

    I don’t think it’s a given anyone not involved in the business would have known. Suspected, possibly, and understandably not questioned it. But when you’re talking about these sums of money, if you’re not learned in the art of how to earn- “earn”- so much, then it’s like the stuff appears by magic. I’d think it very reasonable, on a superficial level (since there’s no evidence to go on either way), to believe the guy’s family didn’t know he was a scammer.

  6. 6.

    Litlebritdifrnt

    Just a nit pick, and I know you C&P from the original article John so I am not blaming you, it is PLEAD (pronounced like bled), not pleaded, you would think a professional journalist would know that. Being in the “business” so to speak it pisses me off to no end.

  7. 7.

    mai naem

    I would just like to know where all the money went. He was giving I believe a nine percent return so you have to figure that some of the money went right back to the investor but that was an incredible amount of money for just Madoff and his family to spend. I know wealthy people have several expensive homes, yachts, vehicles and vacations and a bunch o f staff looking after their needs but even all that can’t cost more than a 25 million a year. That should have just come from simple interest on the investors money. So what happened to the rest of the money? Also too, isn’t it unusual to have that kind of money in a regular bank account/cd ? Shouldn’t that have raised some concerns at some bank somewhere?

  10. 10.

    r€nato

    the wife knew.

    the sons likely knew enough to know that they didn’t want to know any more, and that they should try very hard to keep things that way.

  11. 11.

    sparky

    it may be that they all knew and the incarcerated one cut a deal to keep everyone else unindicted. impossible to know unless someone leaks the terms of the plea deal.

    and yes, i could see the government taking that deal. they avoid a trial, where they might lose and for certain the SEC is going to look like an ostrich at best, and the possibility that if no one rolls over who are you going get testimony from?

    the wildcard here was the judge, but again, i suspect the family was more important to madoff, and so they were willing to take that risk. his life was over either way, so what’s the difference versus keeping the rest of the family out?

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