Ponzi Scheme

Morning Docket: 08.17.11

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* The tried and true accounting method of finders keepers, losers weepers prevailed in an appeals court win for Irving Picard in the Madoff case. [Bloomberg]

* Why in the world did you think it would be a good idea to file a $77M lawsuit against Kasowitz Benson? Are you out of your “superior legal mind”? [Thomson Reuters News & Insight]

* Apparently racism still exists, even at prestigious university like NYU. Skip the damn banana, I’ll take $210K instead, thanks. [New York Daily News]

* First they came for the eggs, and I didn’t speak out because I don’t like breakfast. Then they came for the turkey, and I flipped out because my freezer is full of it. [Los Angeles Times]

* Imitation may be the highest form of flattery, but Christian Louboutin plans to appeal last week’s ruling on his red-soled shoes. You go girl, because I don’t want to pay for an imitation. [Daily Mail]

* What kind of a neighbor goes after Girl Scouts for selling cookies in their own driveway? Apparently the kind you don’t want to live next to anymore. [Daily RFT / Riverfront Times]

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Morning Docket: 08.04.11

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Best un-Photoshopped picture ever?

* Dreamboard is a pretty sick concept for a child porn website, but pedophiles are pretty sick people. At least we busted most of them. [CNN]

* The reports of a possible settlement in the Robert Wone case turned out to be true. Too bad we’ll never know the terms of the deal. [Blog of Legal Times]

* Casey Anthony doesn’t have to return to Orlando because it’s about as dangerous for her to be there as it was for a toddler to be in her home. [People]

* As it turns out, a lawyer was behind the largest Ponzi scheme in the history of Arkansas. I guess that’s an accomplishment he can stick on his résumé. [Arkansas News]

* Sorry, Faye, but sometimes washed up movie stars get threatened with eviction. Even if their rent-controlled apartments are “really quite gross.” [Reuters]

* Thanks to a January incident at Osgoode Hall Law School, SlutWalk is coming to San Francisco. Say it loud, we’re sluts and we’re proud! [Huffington Post]

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Breaking: Madoff Sentenced to 150 Years

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Bernie Madoff has been sentenced to 150 years.

Judge Denny Chin said that the sentence was necessary to deter other people from entering into these kinds of schemes.

The Judge apparently said that he was struck that there was no letter written in support of Bernie Madoff. On the other hand, the judge received 141 pages of letters from Madoff victims.

Madoff allegedly said:

They have accused me and my wife of not being sympathetic. She cries every night, I am also tormented.

Umm … crying doesn’t make you sympathetic. I think instead of turning on the waterworks, Madoff should try not stealing billions of dollars.

But Madoff did apparently say: “I am sorry.”

But the pitchfork rally doesn’t have to end here. Next up: what prison will Madoff be heading to? A “club-fed” facility, or someplace where Madoff might expect “more bareback.”

For extensive and ongoing coverage of L’Affaire Madoff, surf over to our sister site, Dealbreaker.

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