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#Madoff Mind-Boggling: The Next Generation

To: Elissa Gootman, NY Times
From: Cathy

Thanks sooo much for the great article! Kudos!! Great that it even made the front page of the B-section today!

I told Andy that you'd produce something softer than cotton! And you did!

And, thanks again for using that pic--Andy says it compliments my bust line perfectly!

I don't mind telling you that he was really, really  worried that you'd turn the tables on us by suggesting that "BU" was funded by the stash of cash that Andy put aside from the bonus check he got a few months before his firm cratered.

I told Andy that I explained to you that the feds have given up on the idea on prosecuting him, and that Picard's people don't stand a snail's chance of proving the $10 mil cash bonus was anything other than legit.

So what if the brokerage business was hemorrhaging for years? It doesn't mean that my darling Andy, or his brother, or his cousin, or even his uncle shouldn't have received tens of millions in bonuses in the months before the firm shut down  JFC!--GM paid its top execs tens of millions in bonus and salary right up to the day they declared bankrupcty! And so did AIG!

OK, so maybe the bonuses that Andy and the rest got actually came from the people that invested in Bernie's business..What of it? How would Andy have know that?! Its not like he was responsible for keeping the P&L of the trading business! And, it certainly wasn't his job to worry about the company's operating income and expenses! That was Peter's job!


Lis, you'll laugh when tell you that I actually had to talk Andy out of the fetal position when he thought you were going to tell everyone that its not him that cooks our books, but that Jodi C. is still helping us keep the account records straight!

Hope you enjoy the tote bag! (btw--don't worry about any reporting issues, even though we sell that bag to the schnooks for $250, they only cost us $19, well below the amount you need report as 'gifts'.
Cathy Hooper

P.S. I don't know whether you know Ed Wyatt--but tell him that his article about that guy Schlobom was great! Even if Shana would prefer that I keep my opinions to myself when it comes to regulators and key stone cops that let real crooks keep stealing money even while they're being investigated, I hope that his article gets some traction.

Then again, I doubt that it will. Its not as if anyone can do anything about the ineptitude of regulators and law enforcement people..Thank G-d for that!

Full post as published by Bernard Madoff on October 11, 2010 (boomark / email).