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Brian Patrick Cork is living the Authentic Life

is Bernie Madoff Reflecting or Representing?

March13

As many of you know, I am always considering examples of how we reflect and represent God (possibly the Christ element), and how we reconcile all of that with our lives. That uncertain but earnest quest began here – and, is threaded throughout this Blog.

Meanwhile…

History will decide who Madoff helped or harmed

Ultimately history will decide who Madoff helped or harmed

The inestimable Mr. Brian Visaggio posited a passionate and singular point of view about Bernie Madoff yesterday on his own Blog Saint Superman entitled: Raw in Moral Poverty.

Following were my own immediate thoughts to his posting:

A couple of thoughts here Brian…

1. I won’t believe that Mr. Madoff’s sons were clueless around the machinations of the company. They are very well educated and highly sophisticated business people in their own right. And, I suspect the elder Mr. Madoff is taking a fall for the family.

2. I would be curious to learn how many people, over the years, actually made multiples on their money as they invested, withdrew, reinvested and repositioned those funds over a thirty year period. For those decades, hundreds thousands of people were happy and content. Taxes were paid. Ironically, the IRS has an interesting challenge before them in determining how many of the “dividends” distributions paid out over the years represent “ill-gotten” gains, and how that might affect taxes.

3. What role or responsibility do the numerous charities, cities and schools that benefited from Madoff’s legendary generosity (buckets of millions) share in all of this?

4. What is the Securities and Exchanges (SEC) own culpability in this matter? Over the years they have been contacted by numerous professionals that something was not “right” within the Madoff organization and the financial results they published.

Where might “situational ethics” come into play here?

Bernie Madoff pled guilty today. But, I am not sure we will understand precisely what it is he is guilty of (for example, which rules, conduct, actual financial loss, etc) for years to come.

There is a legal term called scienter that makes all of these points a “perfect storm”. It seems that (most) EVERYONE, generally involved – or, at least observing the activity, knew there was something amiss – from the investors themselves, through the Madoff management team, to federal regulators. However, the “American Dream” was afoot.

Now you have multiple groups standing back, with hands on pistols, ready to volley.

Does our society reflect Bernie Madoff? Or, does he represent our society?

[…]

Peace be to my Brothers and Sisters.

Brian Patrick Cork

One Comment to

“is Bernie Madoff Reflecting or Representing?”

  1. Avatar March 14th, 2009 at 5:51 am blog Me blog « The Unsinkable brian cork Says:

    […] is Bernie Madoff Reflecting or Representing? […]


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What’s All This About?

"What am I looking at?", you might wonder.

Lots of stuff.

Meanwhile, here, I discuss events, people and things in our world - and, my (hardly simplistic, albeit inarticulate) views around them.

You'll also learn things about, well, things, like people you need to know about, and information about companies you can't find anywhere else.

So, while I harangue the public in my not so gentle way, you will discover that I am fascinated by all things arcane, curious about those whom appear religious, love music, dabble in politics, loathe the media, value education, still think I am an athlete, and might offer a recipe.

All the while, striving mightily, and daily, to remain a prudent and optimistic gentleman - and, authentic.

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