Madoff – So what happens now?

An interesting insight from Alan Ellis, a lawyer specializing in federal sentencing and Bureau of Prison matters and the author of the “Federal Prison Guidebook”.

You need to clik the Post Title to go to the full Wall Street Journal article.

Did he act alone?

So sentence has finally been passed. 150 years is a pretty hefty stretch, not that it is going to really help Bernard Madoff's thousands of victims. But a key question to my mind is "who else was involved?" I simply cannot give credence to the fact that Mr. Madoff acted alone and that he was able to generate all those false transactions and client statements over all those years. To my mind it just wont wash! What do you think?

Citibank in Japan in hot water again

Now, why am I not surprised about this? Given the previous problem, what has the bank's management been doing these past several years? It is really a poor reflection on the bank in terms of governance that this problem has been allowed to persist.