Madoff, The King of Pop & Koufax

[outfielder]

As I was watching the news this morning I once again got into a debate with my wife....

Bernie Madoff is in court and my wife was thinking about those poor people that will never get their money back. I couldn't help but think...He took upwards of $60 Billion. Some estimates have Michael Jackson earning $500 Million in his career and at the time of his death he was $400 Million in Debt...that is less than $1 Billion.

So I asked myself, if Michael Jackson couldn't spend $1 Billion in his sick life, no one can. There must be at least $59.11 Billion left to split up. The sooner the better, so I don't have to see Sandy Koufax pimp his goods on ebay any longer.

Speaking of pimps (or should I say who they employ)...the most frustrating thing about Jackson's death is having to see Jesse Jackson and Al Sharpton once again

[Tucson]

Yes, I agree. I heard the Jacksons give a statement that only the attorney is authorized to speak for them. Then, the next report was Jesse J. telling all the he knew. Revs. Jackson and Sharpton are just like calling the National Inquirer and telling them something in private. I have yet to hear either minister offer a word of prayer.

I keep changing channels, but can't get away from the story.

I don't believe that the investors with Madoff will ever get a cent back. The government will find a way to go through everything that is recovered. I also read that if you were actually getting returns on your investment for a number of years, you will not get your money back.

My husband was the Securities Director for a number of years in iL. It was his duty to routinely audit these companies like Madoffs. Evidently, the auditor that had blown the whistle on Madoff, many years ago was ignored. This would have been the NY office.

I don't understand this and if someone does, please tell me. Why would a couple in their 60s invest every penny in one account? It seems like 1000s of people made this same basic mistake. Many of the investors are elderly.