Bernard Madoff

It has been two years since Bernard Madoff's global Ponzi scheme unraveled, and the fallout continues to make news. The courts must separate the scammed from the scammers; those with ill-gotten gains from those who were robbed; those who didn't know, from those who should have known, from those who did know. As is the usual case in the court system, the murky question of state of mind is often at issue. Did Mr. Madoff's scam feed off of greed or wishful thinking? Did he exploit simple naiveté or — in the case of those who should have known better but preferred not to acknowledge reality — incredulity?

In response to Dan Rodricks ' article ("Madoff's Baltimore Catholic connection," June 2) on the link between the closing of St. Michael's and the Redemptorist losses in investments with Bernard Madoff, I would write that Mr. Rodricks overlooked two points. First, the church at St. Michael's, majestic as it is, has reached a point where the cost of repairs has gone beyond the value of keeping the church open. The Redemptorists invested millions of dollars in the 1970s and 1980s to repair stone facing, roofs and the steeple.

: Should South Carolina Gov. Mark Sanford resign? Yes 67% No 29% Not sure 4% (793 votes, results not scientific) Next poll: : Do you think the 150-year prison term given to Bernard Madoff for perpetrating a multibillion-dollar financial fraud was an appropriate sentence? Vote at baltimoresun.com/vote

It has been two years since Bernard Madoff's global Ponzi scheme unraveled, and the fallout continues to make news. The courts must separate the scammed from the scammers; those with ill-gotten gains from those who were robbed; those who didn't know, from those who should have known, from those who did know. As is the usual case in the court system, the murky question of state of mind is often at issue. Did Mr. Madoff's scam feed off of greed or wishful thinking? Did he exploit simple naiveté or — in the case of those who should have known better but preferred not to acknowledge reality — incredulity?

FORT LAUDERDALE, Fla. - Bernard Madoff's yacht "Bull," two smaller boats and a Mercedes-Benz convertible have been auctioned in Florida for more than $1 million combined. The private auction was held by the U.S. Marshals service, which seized Madoff's assets after his Ponzi scheme was exposed. Proceeds will benefit Madoff's investors. - Associated Press

NEW YORK - The victims of Bernard Madoff's massive swindle are only owed the money they invested with his firm and not the $64.8 billion reflected on fictitious statements, a Manhattan bankruptcy judge ruled Monday. The written decision by U.S. Bankruptcy Court Judge Burton Lifland rejected the victims' arguments that they had legitimate claims based on "securities positions" listed in final Nov. 30, 2008 statements. It upheld a "net equity" formula being used by a trustee overseeing the liquidation and distribution of Madoff's assets.

NEW YORK - Bernard Madoff's claim to have pulled off his multibillion dollar swindle without assistance fell apart further Thursday, as one of his longtime aides was charged with helping him cook the books. Daniel Bonventre, an accountant who worked for Madoff since the late 1960s, was arrested early Thursday morning at his home in Manhattan, authorities said. He faces conspiracy, securities fraud and tax charges. The 63-year-old was also sued Thursday by the Securities and Exchange Commission.

In response to Dan Rodricks ' article ("Madoff's Baltimore Catholic connection," June 2) on the link between the closing of St. Michael's and the Redemptorist losses in investments with Bernard Madoff, I would write that Mr. Rodricks overlooked two points. First, the church at St. Michael's, majestic as it is, has reached a point where the cost of repairs has gone beyond the value of keeping the church open. The Redemptorists invested millions of dollars in the 1970s and 1980s to repair stone facing, roofs and the steeple.

AirTran to put ads on seatback tray tables ATLANTA - It soon will be harder to avoid advertising if you fly on one major carrier. AirTran Airways is installing ads on the bottom of seat-back tray tables on all its planes. Passengers have to keep the tray tables in their upright, locked position, during the beginning and end of their flights. That means an unimpeded view of the ads, which AirTran hopes will bring in millions of dollars in new revenue at a time when much of the industry has been reeling amid the economic slowdown.

I just can't avert my gaze from the train wreck wrought by Bernard Madoff, the aptly named investor who may have scammed as much as $50 billion from a clientele that included Hollywood, media and sports moguls and major Jewish philanthropies. I'm riveted by all the gory details: the way people angled to join the Palm Beach Country Club (entry fee: $300,000, plus matching donation to charity) just for the chance to meet and possibly invest with him; how he now might be trying to hide assets by mailing off Cartier and Tiffany baubles and a pair of $200 mittens - $200 mittens?

NEW YORK - The victims of Bernard Madoff's massive swindle are only owed the money they invested with his firm and not the $64.8 billion reflected on fictitious statements, a Manhattan bankruptcy judge ruled Monday. The written decision by U.S. Bankruptcy Court Judge Burton Lifland rejected the victims' arguments that they had legitimate claims based on "securities positions" listed in final Nov. 30, 2008 statements. It upheld a "net equity" formula being used by a trustee overseeing the liquidation and distribution of Madoff's assets.

NEW YORK - Bernard Madoff's claim to have pulled off his multibillion dollar swindle without assistance fell apart further Thursday, as one of his longtime aides was charged with helping him cook the books. Daniel Bonventre, an accountant who worked for Madoff since the late 1960s, was arrested early Thursday morning at his home in Manhattan, authorities said. He faces conspiracy, securities fraud and tax charges. The 63-year-old was also sued Thursday by the Securities and Exchange Commission.

AirTran to put ads on seatback tray tables ATLANTA - It soon will be harder to avoid advertising if you fly on one major carrier. AirTran Airways is installing ads on the bottom of seat-back tray tables on all its planes. Passengers have to keep the tray tables in their upright, locked position, during the beginning and end of their flights. That means an unimpeded view of the ads, which AirTran hopes will bring in millions of dollars in new revenue at a time when much of the industry has been reeling amid the economic slowdown.

FORT LAUDERDALE, Fla. - Bernard Madoff's yacht "Bull," two smaller boats and a Mercedes-Benz convertible have been auctioned in Florida for more than $1 million combined. The private auction was held by the U.S. Marshals service, which seized Madoff's assets after his Ponzi scheme was exposed. Proceeds will benefit Madoff's investors. - Associated Press

Was the 150-year prison term given to Bernard Madoff an appropriate sentence? Yes 83% No 14% Not sure 3% (1,160 votes, results not scientific) Next poll: : New federal figures show a 4 percent drop in the number of vehicle miles driven over the last year. Are you driving less than you did a year ago? Vote at baltimoresun.com/vote

NEW YORK - -Bernard Madoff was sentenced Monday to the maximum 150 years in prison for his multibillion-dollar fraud scheme, which a federal judge called "staggering." "The message must be sent that Mr. Madoff's crimes were evil," said U.S. District Judge Denny Chin in handing down what in essence was a life term for the 71-year-old investor. Chin, noting that the Ponzi scheme ran for more than 20 years, wasn't convinced that Madoff was sorry or was cooperative with authorities in the continuing investigation into others who helped him bilk funds.

NEW YORK - -Bernard Madoff was sentenced Monday to the maximum 150 years in prison for his multibillion-dollar fraud scheme, which a federal judge called "staggering." "The message must be sent that Mr. Madoff's crimes were evil," said U.S. District Judge Denny Chin in handing down what in essence was a life term for the 71-year-old investor. Chin, noting that the Ponzi scheme ran for more than 20 years, wasn't convinced that Madoff was sorry or was cooperative with authorities in the continuing investigation into others who helped him bilk funds.

I just can't avert my gaze from the train wreck wrought by Bernard Madoff, the aptly named investor who may have scammed as much as $50 billion from a clientele that included Hollywood, media and sports moguls and major Jewish philanthropies. I'm riveted by all the gory details: the way people angled to join the Palm Beach Country Club (entry fee: $300,000, plus matching donation to charity) just for the chance to meet and possibly invest with him; how he now might be trying to hide assets by mailing off Cartier and Tiffany baubles and a pair of $200 mittens - $200 mittens?