The Day Bernie Madoff Dropped His Trousers
More in BUSINESS NEWS
back-up- Meet Goldman Sachs' Newest Managing Directors
- Geithner On Financial Regulatory Reform
- Free Job Postings Until 31.03.2010
- Bank Tells Staff To Knock Off Early To Make Babies
- 'Do I Seem Like A Guy Who Throws Chairs ?'
- Best Place To Work Update
- Office Humour - Warning, Some May Find This Offensive
- City Bankers Prepare For Disaster Scenario
- John Thain Defends Wall Street Bonuses
- Click Here To Register For Free News E-Mail Alerts
- Lazard Names New CEO
- Top Firm Told To Give Up Bonuses
- Government Accused Of Botching Major Bailout
- UBS Reveals Its Hand
- The Dash For Trash
- Too Big To Fail
- 'Sorry - But Christmas Is Cancelled'
- Regulator To Have Power To Tear Up Banker Pay Contracts
- IT Programmers Accused Of Being Madoff Accomplices
- Cityboy On Corporate Social Responsibility
- Top Firm To Unveil Turnaround Strategy
- The Obvious Candidate To Succeed Ken Lewis Is Ken Lewis
- Quit The UK To Avoid Higher Taxes - Poll Results
- Bankers Forced To Take Second Jobs To Make Ends Meet
- Goldman Kitten Payments Go A Stray
- More Compensation News
- Best Place To Work 2010 - Vote Now
- Banker Eye Test
- Goldman Sachs - View From The Top
- The Lloyd's Prayer
- Exec Claims Hedge Fund Boss Hired Hit Man To Kill Her
- $125m-A-Year Banker's Wife Says She Was Treated Like 'Mail-Order Bride'
- 'The Sell Out'
- 'Many Of You Have Seen Life Savings Vanish'
- Tough Times For Expenses - £5 For Lunch
- Tragic Banker Rehearsed Suicide Before Killing Himself
- Bear Stearns Fraud Case - The Verdict
- Even More Compensation News
- CEO Says That History Will Vindicate Him
- Traders Desperate To Get 'The Clap'
- Reservoir Gods
- Who Was Mr Angry During The Financial Crisis ?
- JPMorgan Chase Compensation Letter
- Regulator Warns - 'Yes, That Does Mean People Go To Jail'
- Brokers Complain Of Bailed-Out Banks Bullying Tactics
- Best Place To Work - Previous Winners
- Best Place To Work 2009 Results - The Top 100 Firms
- CEO Says He Could Top Himself & People Would Cheer
- Top Firm Hires 78-Yr-Old / Ex-Boss Says 'Sorry' For Citigroup
- Top Firm Said To Be At Loggerheads
Related Content
- Interview With Bernie Madoff (02/11/2009)
- 'Madoff With The Money' (14/09/2009)
- 'So Tell Me Bernie, Just What Is The Food Like In Here?' (01/10/2009)
- IT Programmers Accused Of Being Madoff Accomplices (16/11/2009)
- Report On SEC Shortcomings Over Madoff Affair (03/09/2009)
- Billionaire Madoff Investor Found Dead In Swimming Pool (26/10/2009)
Very slowly, details are starting to emerge about the strange and crazy world of Madoff, and, here and there, are clues that, with hindsight, might have focused suspicion on the fraudster before he confessed to his crimes last December.
Fortune reveals, for instance, that it took a special pass to gain access to Madoff's back office processing area, based in offices in mid-Manhattan. And the IBM server which supported his scam operation was almost 30 years old, and many things had to be manually inputted. Despite it's age, and the fact that it often went wrong, Madoff repeatedly refused to replace it.
Bernie, in fact, appeared to have a phobia against technology (strange for a former Chairman of the NASDAQ, who claimed that he was involved in the design of its technology platform). According to the news magazine, Madoff didn't have a BlackBerry, didn't use e-mail, and had his computer set up so that he never had to turn it on (because he didn't know how to).
And Madoff appears to have been petrified every time US regulators came knocking on the door (mostly on routine visits). He is said to have often returned to the office immediately he was alerted to their presence, even flying back early from holidays.
Bernie could also apparently be a rather insensitive fellow. Fortune quotes an instance when a female member of Madoff's staff told the fraudster that she had a nightmare about being raped. 'That's not a nightmare, that's a fantasy!', came the reply.
And finally, as reported previously, Madoff had a thing for symmetry and straight-lines. His offices had to be decorated in the same way, in the same color schemes. Blinds had to be drawn to the same length, computer screens had to be at the same angle, and rugs had to be aligned. Fortune even says, that on one famous occasion, Madoff dropped his trousers just to show his staff that the 'line of of his shirt buttons was precisely vertical'.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.











