Word: madoff
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...client who requested the kidney $160,000. The payment would be laundered through what Rosenbaum described first as a "congregation," then as a charity. According to published reports, Rosenbaum ran the Brooklyn branch of Kav Lachayim, a charity for sick children that was once supported by convicted financier Bernie Madoff. (Read about how kidney-trafficking works...
...ended up saddling Porsche with $13 billion in debt. As his star was sinking, Wiedeking went from hero in the German public's eye to a victim of his own massive hubris. In his way, Wiedeking is Germany's symbol of the greed generation, just as Bernie Madoff is in the U.S. or the Royal Bank of Scotland's Fred Goodwin is in Britain. Not a criminal like Madoff, obviously, but someone who overreached, who dreamed too big. "Porsche is another example of how the gambling mentality in global casino capitalism has infiltrated even the most down-to-earth companies...
...Madoff, Bernard • distress of at unkempt coiffure...
...Bernie Madoff's crimes spawned a global financial meltdown, a wave of populist outrage, books, movies, souvenirs and, now - perhaps - an overhaul of New York's prison system. On July 20, Republican Assemblyman James Tedisco introduced a so-called "Madoff bill" in New York's legislature that, if passed, would require wealthy inmates to be billed for the cost of their prison stays - estimated at $90 per inmate per day. TIME spoke with Tedisco about the legislation's nickname, the "party palace" in a Manhattan jail that helped spark the proposed law and why lawmakers might want to let prisoners...
...decide to christen your proposal "the Madoff bill" now that federal authorities have seized Madoff's assets. The bill itself does not relate directly to Mr. Madoff because he'll be in a federal prison. [Tedisco's version only covers local and state prisons.] But it refers to the fact that right now, he's a poster person for somebody who has gained monetarily by breaking the law - and is going to continue to victimize taxpayers by being in prison for the rest of his life and getting three square meals a day. There are enough wealthy people who have...