Me and Bernie Madoff on video, abridged
I've already written about my Bernie Madoff panel-moderating experience, but now that other people are posting an abridged YouTube video of the event (with contributions from Madoff and his employee Josh Stampfli, plus a few of my questions), I figure I'd better do the same:
A friend suggests that I "might get some branding from this." Any suggestions? (Other than that I need to sit up straighter; Mrs. Curious Capitalist is already on that case.)
Update I should clarify that the entire discussion about how Madoff's firm made money related to his brokerage business, which is where Stampfli worked. I didn't even know that Madoff managed anybody's money.
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PALM BEACH GOT RUN OVER BY MADOFF'S PONZI REINDEER
(Grandma Got Run Over By a Reindeer)
WilliamBanzai7(chorus)
Palm Beach got run over by Bernie Madoff's Ponzi reindeer
Just two weeks before Christmas Eve
You can say there's no such thing as a Wall Street scamster
But as for we in America, we believeHe'd been chalking up bogus Alpha
So the SEC said he had to go
And as he waltzed out of his lair on Third Avenue
Defiant as he was, he said, "Positive returns, hell no!"When they woke up yesterday morning
It was clear the Palm Beach clique had been attacked
May as well stick a note to their own foreheads
Saying, "Oh Lord, please give us our money back!!"(repeat chorus)
Now we're all so proud of our regulators
They've been taking this so well
See them crammed in Madoff's office
Knowing that SEC Chairman Cox will soon be sent to pink slip h-e-l-lIt won't be a Merry Christmas thanks to Madoff
Nor a Happy Hannukah as well
And we just can't help but wonder
Dosn't all of Wall Street have that pungent Ponzi smell?(repeat chorus)
Now that Madoff's books are on the table
See all the other asset managers dance a jig (Ah!)
And the bogus billion dollar earnings
That not surprisingly had been rigged!Be forewarned all you rich country club investors
Better watch out for yourselves!
You should not make be dreaming of serial Alpha
With hedge fund goofs who play golf better than yourselves!(repeat chorus)
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I particularly like the part at 5:20 or so...
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It is "impossible to violate the regulations...certainly not over a period of time..."
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Hubris. Pure and simple. The Bush Era shall forever be known as the age of hubris. Unadulterated hubris.
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