Saturday, June 27, 2009

Ruth Madoff Becomes Millionaire, Thanks to Uncle Sam

I'm sure that victims of Bernard Madoff are going to react harshly to the latest outrage in a long string of Madoff-related outrages: under a deal with the government, his wife Ruth Madoff walks away with $2.5 million.

The Wall Street Journal for some reason says that Mrs. Madoff gets "just" $2.5 million. "Just"? What about all the Madoff investors who have been completely and totally wiped out? And, unlike Ruth Madoff, there isn't the stench of involvement in the scam wafting over them.

Ruth Madoff should be reduced to the same state as her husband's (some might refer to them as her) victims, and not be allowed to keep a penny of the assets forfeited by the government. Her hubby's victims have been wiped out, and so should she.

Her lawyer says that she "unequivocally did not know of the misconduct and did not participate in it." And I have a bridge over the East River I can sell you.

The amount of fury being directed not just at Madoff, but at the government for its handling of this case, has just ratcheted up a notch.

© 2009 Gary Weiss. All rights reserved.

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