Not actually sure why this was offered up for us, either. Surely there were less gruesome ways of illustrating the cost of the financial crisis? It seems kind of mean to open fire on a suicide--i mean, he clearly had enough problems, didn't he? And now he's left behind a wife, two children, and a miserable holiday memory. "Merry Christmas--oh, sorry."
@bittergreen: He may have thought it better to leave money to his family upon his death (though I guess suicide usually doesn't count as accidental death w/ life insurance). I just know he had to be low. Very, very low. And anyone who's ever lost a loved one to suicide knows the selfish thing often has nothing to do with it. It's about people completely unable to see a way out of whatever kind of torture they're in. So, you know, let's not judge hastily. It's sad he left a family behind, but let's not judge this gentleman. Let's judge Madoff some more instead.
I don't understand why it's called a "reverse Ponzi scheme." From my understanding it was just a Ponzi scheme. The only difference this time around was that instead of duping unsuspecting and unsophisticated individual investors, this guy took foreign sovereign investors and hedge funds for a ride.
There must be a special prison for people like GWB and Madoff who have by proxy blood on their hands for all the people and lives they have ruined.
I have no snark. Honestly, the dude here sort of took the honorable way out because he felt directly responsible for letting down his clients and firm. Meanwhile it was entirely his fault. Madoff has no such self-reflection.
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[clusterstock.alleyinsider.com]
If this is true, all I can say is "what a total prick leaving a wife and two kids with the ruins of his life."
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And ridicule. We can't forget to ridicule Madoff.
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I have no snark. Honestly, the dude here sort of took the honorable way out because he felt directly responsible for letting down his clients and firm. Meanwhile it was entirely his fault. Madoff has no such self-reflection.
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One wonders, perversely, if this will cause the room to be more in demand as some ask for the Schadenfreude Suite.