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Media On Trial: Did the Media Fail us with reporting Madoff? Part 8

By Steve Lombardi

Today we continue to analyse and ask why the media missed this softball and how over a ten year period there were no questions being asked in the print and electronic media.

The questions I have about media coverage begins with why weren't the doubts about Madoff's investment scheme aired in the news until after he admitted his investment group was nothing more than a Ponzi scheme? It isn't as if there weren't people and evidence to support a news story. So why wasn't it deemed news worthy?

Looking back at the last post I know ponder the why Bernie admitted his scheme and later plead guilty to the charges. Was Madoff's plea an attempt at damage control for his family, colleagues and business partners? Is his life hanging in the balance? Are his family, friends, feeder fund agents and other business partners safe from harm? Or are they running scared, looking over their shoulders and praying every time they turn the ignition key? Can people who engage in fraud of this magnitude every be left with feeling safe? Or are they left to a life of emotional misery always looking around furtively and wondering about the person coming towards them? Do thoughts of violence consume their lives in ways we can only imagine?

March 12, 2009 - Was Madoff's plea an attempt at damage control for his family, colleagues and business partners? Or is his life in jeopardy?

http://www.youtube.com/watch?v=5dV8oEM3C0Q

The question yet to be answered is posed by MSNBC – Who else is involved? Who knew, profited and did nothing? How can anyone run a $65 billion Ponzi scheme alone?

http://www.youtube.com/watch?v=D3OkG0X-DC8

March 12, 2009 - FOX _ Madoff being lead to jail - BERNIE MADOFF BEING LED TO JAIL FIRST COURTROOM SKETCHES

http://www.youtube.com/watch?v=_GX2zYFPcLU

March 13, 2009 - Prison Life For Madoff – CBS - As disgraced Ponzi scheme financier Bernie Madoff faces a maximum of 150 years behind bars, Armen Keteyian reports on the new style of living this former Wall Street magnate now faces. This video clip has a good view of the Metropolitan Correctional Center (MCC) in New York City.

http://www.youtube.com/watch?v=NleHtP0cOUo

My conclusion is good luck with spending any money that is hid and if there are mob or drug cartel investors you screwed good luck if they find you. The best thing advice anyone can give the Madoff group is to disclose all money, keep none and fall on the liability sword in hopes insurance will cover most of the losses. Because $65 billion isn't an amount people are likely to forget. If we think this is messy now just wait. This could make Stephen King novels read like a Hallmark TV script.

Originally posted at InjuryBoard by Steve Lombardi

Full post as published by Des Moines Personal Injury Lawyer on April 29, 2009 (boomark / email).