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: Conglomerate

Madoff: Who Is Taking Responsibility in the Allocution?

By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring

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Defendants take responsibility for their crimes in the allocution that accompanies their pleas, but, as Miriam Baer observes, here's what Bernard Madoff said today in his:

?While I never promised a specific rate of return to any client, I felt compelled to satisfy my clients' expectations at any costs.?

Which might go under the headline of blaming the victims.

Full post as published by Conglomerate on March 12, 2009 (boomark / email).

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