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Pulp International - Bernie+Madoff
Swindles & Scams Mar 13 2009
A MADOFF RUSH TO JUDGMENT
Bernie Madoff is in jail but who has the missing money?

You know by now that yesterday in the U.S., crooked fund manager Bernie Madoff was handcuffed and led away to jail after pleading guilty to all counts against him. By declining to take the normal route of a plea deal with prosecutors, he sidestepped the requirement to divulge information about his accomplices and the disposition of the stolen money. Financial observers agree that Madoff could not have run his Ponzi scheme without help, and they certainly agree that the money didn’t just disappear.

The New York cover pictured here labels elderly Madoff a monster, as if he’s some atrocity never before seen by human eyes. While he may be the biggest swindler of all time, and he certainly isn't Kevin Bacon's favorite person, he’s not new. No, he’s just the latest in a long line of elegant grifters, though a particularly efficient one. What makes Madoff truly pulp is that he took the hit for his financial clan like a good mafia footsoldier, and though he’ll never get out of jail, neither will he—let’s face it—do time in Attica’s supermax wing with the child rapers and guys who ate their grandmothers’ kidneys. It’s easy to imagine Madoff is smiling inside just a little. Does that sound strange, and perhaps cynical? Yeah, it does until you think about it.

Consider for a moment how, in this post-millennial reality, we’ve become so jaded regarding the term “billions”. Not too many years ago you rarely heard that word uttered aloud by anyone other than an astronomer. So to put this Madoff thing in perspective, let’s just pretend the word doesn’t exist. Thus restrained, we now have to refer to him as a guy who stole—not one million, not fifty million—but 999 million dollars 60 times, and walked into jail without divulging where any of it went. Still think he isn’t smiling just a little? 

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Swindles & Scams Feb 18 2009
STICKY WICKET
Trust me, I'm a banker.

Yesterday in the U.S., the Securities and Exchange Commission accused investment banker and cricket mogul Allen Stanford of operating a multi-billion dollar banking swindle. Stanford is a native of Texas, but relocated years ago to the Caribbean, where he built a cricket empire on the island of Antigua that includes an international tournament and a cricket stadium. While the SEC was busy this morning officially filing charges in federal court, depositors made runs on Stanford-owned banks in Antigua, Panama and Venezuela. Also today, the Times UK reported that Stanford had lost money to swindler extraordinaire Bernie Madoff and lied to cover it up. The flamboyant Stanford, who last year was caught on television during a match pulling one cricket player’s wife into his lap and flirting with others, has not been seen in public.

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Hollywoodland Dec 30 2008
ACHIN' BACON
$50 billion swindle snares another star.

Kevin Bacon and Kyra Sedgwick reportedly are the latest Tinseltowners taken in by Ponzi-schemer extraordinaire Bernie Madoff. We haven’t touched on the Madoff story here at Pulp Intl. because you can get the info from virtually any paper or website in the world. But when we heard the scandal had snared Kevin Bacon, we went, “Oh, hell no.”

No reports yet how much money the couple lost, but they can take solace from the fact that even luminaries like Steven Spielberg and Jeffrey Katzenberg were fooled by Madoff. In the meantime, we have a feeling financial need might bring that rumored Footloose sequel a little closer to fruition.

Now, on another note, Pulp Intl. would like to present a challenge: Read up on the mechanics of a Ponzi scheme and please inform us how it’s different from the U.S. Federal Reserve. Because try as we might, the only distinction we can see is that when the Fed doesn’t have enough money, it prints more. We’re just saying, that’s all.

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History Rewind
The headlines that mattered yesteryear.
March 28
1910—First Seaplane Takes Flight
Frenchman Henri Fabre, who had studied airplane and propeller designs and had also patented a system of flotation devices, accomplishes the first take-off from water at Martinque, France, in a plane he called Le Canard, or "the duck."
1953—Jim Thorpe Dies
American athlete Jim Thorpe, who was one of the most prolific sportsmen ever and won Olympic gold medals in the 1912 pentathlon and decathlon, played American football at the collegiate and professional levels, and also played professional baseball and basketball, dies of a heart attack.
March 27
1958—Khrushchev Becomes Premier
Nikita Khrushchev becomes premier of the Soviet Union. During his time in power he is responsible for the partial de-Stalinization of the Soviet Union, and presides over the rise of the early Soviet space program, but his many policy failures lead to him being deposed in October 1964. After his removal he is pensioned off and lives quietly the rest of his life, eventually dying of heart disease in 1971.
March 26
1997—Heaven's Gate Cult Members Found Dead
In San Diego, thirty-nine members of a cult called Heaven's Gate are found dead after committing suicide in the belief that a UFO hidden in tail of the Hale-Bopp comet was a signal that it was time to leave Earth for a higher plane of existence. The cult members killed themselves by ingesting pudding and applesauce laced with poison.
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