Monday, March 1, 2010

MADOFF ... THE FINANCIAL WORLD'S "HITLER"?

After Adolf Hitler made a name for himself by dragging Germany into World War II, and gassing Jews to satisfy the demons inside his empty soul, numerous Hitler families changed their last names. It didn't matter if they were related to history's mad man. The intent was clear. They wanted to disassociate themselves from the stain and embarrassment of having to explain the name Hitler in their family line. From court records it appears that Bernie Madoff's daughter-in-law is doing the same thing.


Stephanie Madoff filed court papers in Manhattan asking to change her last name to Morgan (not sure if this is her maiden name), and is requesting the same for her two children. One can understand the need to do so. With most of America now aware of the pain and embarrassment caused by his theft, Bernie Madoff is now considered one of history's great con men. The Madoff name will forever be associated with Charles Ponzi and other grand "pyramid" schemes that defrauded and looted money from investors and innocent society members alike.

In at least one case, a family who had entrusted their mentally disabled son's money with Bernie Madoff lost everything when his scam was exposed. The effects of Madoff's dishonesty are still rippling through the country.

Bernie Madoff's wife - who is presumed innocent in all of this - is now having such a difficult time that she can't even get her hair done by her old salon, and can no longer enter the restaurants and gym she used to frequent. I assume most of you will have no sense sorrow over Mrs. Madoff's predicament, especially since she was able to keep a multi-million mansion and it's belongings (which should make Americans who have been foreclosed on happy).

I'm not sure if Bernie Madoff name in the financial world is the equivalent of Hitler, but one can understand why individual investors and families who lost their life's work would think so.

- Mark

No comments: