Wednesday, December 17, 2008

Electronic Bracelet for Madoff

For the second time, master Ponzi scheme operator, Bernard Madoff, has failed to deliver four signatures of "financally responsible" indivduals willing to sign-on as gurantors of Madoff's bail. His wife has signed on to the Free Bernie campaign, but his formerly silver tounge has apparently stopped having an impact on anyone beyond Mrs. Madoff. So he is stuck with an electronic bracelet in his $7 million apartment, with the clock ticking on his freedom, if he doesn't find three soft hearts fast.

UPDATE: The report above which I linked to from FT is a bit off with the facts. It appears there are no more bail hearings and Bernie is confined by court order to his $7 million apartment only between the hours of 7:00 PM and 9:00 AM. Other than trying to make sure Bernie gets a good nights sleep, the limited hours of confinement confuse me. What can Bernie possibly do between 7:00 PM to 9:00AM that he can't do between 9:00AM and 7:00PM, including go on the lam? Here are the court ordered bail terms.

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