need to add title here

Ruth and Andrew Madoff, pt. 2

October 30, 2011 12:16 PM

In their first interview about the crimes of Bernard Madoff, the son and the wife of the man who scammed billions of dollars provide the first inside account from the immediate family. Ruth Madoff and son Andrew tell Morley Safer how Madoff confessed his crimes to them, their reaction and the subsequent family strife of the past three years.

Crime, punishment, and the shame of being a Madoff

60 Minutes OverTimeSons called in FBI to arrest Bernie Madoff

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by BeanieBoy23 November 5, 2011 11:39 PM EDT
Well, here's my take on this tragic story. Plain and simple, when a person stares UPWARDS and to the right when relating PAST events it is an indication of untruthfullness. When they look down and to the right when retelling a tale, its an indication of an actual memory or experience; and therefore indicating a truthful response. As much as I personally like Ruth Madoff, during her ENTIRE interview she looked upwards and to the right for the majority of the interview. Andrew, on the other hand, looked down and to the right during his entire interview. What does that mean? For me it means Andrew did not know and Ruth did. Plain and simple. Hence the double suicide pact Ruth and Bernie made. She also stated that if she had known, she would have left him. But after she found out, she makes the decision to die with him. Hmmm. All judegements aside, this is a horrible awful tragedy for all involved. Even if Ruth Madoff is an accomplice, she lost her son which is punishment enough. Sad sad story all around, guilt or innocence aside.
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by xmingwu November 5, 2011 12:45 PM EDT
I understand Ruth. But the son, Andrew, is very selfish, irresponsible. Just be a big man and take care of the debt to return as much as he can. That will be a nice gesture. However, Andrew is doing the opposite. He is trying to protect the money he thinks he earned. Too laughable. And the fiance, she is in it as well. Being used as the money making machine via this book. Dispicable.
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by monacoplease November 3, 2011 10:43 PM EDT
Why do people have such a hard time believing that the sons and wife didn't know anything? Bernie was a dictator who never shared info with anyone, and even the SEC "cleared" him on many occasions. And, with his sons running another company, they were a little busy with their own agendas. While it is true that there were articles and some red flags about how he was able to consistently make money in a market where everyone else was losing (or breaking even), perhaps that makes them guilty of being unable to imagine that this "God-like" creature that MANY people revered, could possibly be a fraud. Again, even the SEC believed his story - and they actually LOOKED at his records (yeah, they were all fake, but they could have taken the additional steps to follow up on some pretty routine checks). And even if you don't buy the story that Andrew and Mark turned their father in . . . doesn't Mark killing himself make you think that just maybe he was as tormented as the other victims of Bernie Madoff? (there were at least 3 other victims of the ponzi scheme who committed suicide).

The horrible things said here about Mark and his suicide are really cruel.... to be driven to hang himself with his 2 year old son in the next room must come from a pain that I hope few of us will ever experience. There are plenty of sociopaths walking among us, some of us may have been used or abused by one or two, but imagine that you have to face the reality that your own father.... the man you admired and respected your whole life turned out to be a liar who stole BILLIONS from family and friends has to be a cross that few of us could bear.

You can hate them because they're rich, but as for their guilt - try to imagine for a minute that they really didn't know..... imagine how they might feel (and, there's probably a little shame at feeling so stupid to NOT know.....just as the rest of his victims probably felt).

As for Bernie, there is nothing that can be done to him to even begin to be justice for his victims. He is a despicable, pathetic excuse for a human being. And sending "frozen assets" to their children shows just how narcissistic he and Ruth were even after his arrest..... in their minds they were sending nice things to their families . . . the reality is those things were purchased with STOLEN money and even they did not have a right to them..... that just blows me away.

Sorry, rambling here a bit, but I've been reading the new books on this case and it just boggles the mind on so many levels.
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by AndySansone November 2, 2011 4:06 PM EDT
What a bunch of crap. They're all complicit. It's written all over their faces.
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by blackrecluse November 2, 2011 1:03 PM EDT
I'm fascinated by all of the scathing comments of those convinced of the family's knowledge and guilt: How could they not have known? Indeed, how could anybody not know everything? Personally, I don't care whether they knew or not. I'm aware of my inclination to give individuals the benefit of the doubt and I have considered that this is a weakness in my character (humanity as whole, on the other hand, I don't give the benefit of the doubt). But so many condemning comments, often on the premise that wife & sons were the beneficiaries of Bernie's phenomenal income: How could they not know exactly how he made all that money? I suppose because by father's annual income never exceeded 5 digits, and mine's never exceeded 30K, I'm trying to wrap my head around the actual mechanics of earning millions (don't assume I'm condemning such earnings on principal alone). I'm imagining my dad--or spouse--being the CEO of some bank or multinational corporation. He goes to the office, attends meetings, takes lots of phone calls, has lunch with different people everyday...and we are filthy RICH. Just exactly how (or why) does he make all that money? Where does it come from? How would I know? Yeah, I know, the Madoff boys grew up to be in the business...or at least an associated business where they made money. At least a few insightful comments: How could none of the investor's have suspected? OH...and what about the SEC?
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by maire19 November 2, 2011 1:54 AM EDT
I have great difficulty understanding how "financial guys", meaning Andrew and brother Mark, didn't practice due diligence. All that money coming into their "independent" firm couldn't have made sense to them, it couldn't have added up in any financial persons books. How can you just receive tons of money, several properties, etc. & claim you are a bona fide financial expert & not know where the money is coming from? It's ridiculous! It is the same excuse the heads of all the other crooked financial firms used & it is just a load of you know what!

The real reason is greed. They knew "everyone was doing it" & wanted their dirty piece of the scam, so they did it too. Even insurance cos. got in on the reaming, insuring derivatives for people who did not own them? OMG, what insurance company would do that? (AIG)

All financial transactions need to be regulated, regulated, regulated! Historically there was a reason the regulations were put in place to begin with, read about the history of finance in US.

Our political reps, at all levels, need to realize the anger and disgust of "we the people" We are seriously disgusted and fed up!!!!!!!
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by am140 November 2, 2011 12:00 AM EDT
It is clear that the only moment of truth, was when Andrew Madoff refused to answer what his net worth is.
The business Andrew had with his brother was built under the Madoff name and reputation.
He can call it a separate company all he wants, but his rich clientele were drawn to the madoff name from which he, as the son, benefitted.
therefore, all the money Andrew now has should be given to the victims.
And he should do jail time, at least 50 years.
I am not the least bit impressed by these pigs wiping their tears with golden handkerchiefs made from the blood of thousands of innocent victims.
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by mjs293 November 1, 2011 3:39 PM EDT
Take the money and have fun, get caught blame dad and run!!!!
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by Ingbing November 1, 2011 2:32 PM EDT
I think the proceeds from all the books the Madoffs' are writing should go to all the people Bernie swindled. Unfortunately it will probably go into Andrew and Ruth's pockets. I would not read any of their books even if they were given to me free. It's just too hard to believe none of them knew nothing. They had way too many material possessions that cost too many millions (homes, boats, Rolex watches, etc., etc.,). Poor, poor Madoffs !!!
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by Ingbing November 1, 2011 2:29 PM EDT
I think the proceeds from all the books the Madoffs' are writing should go to all the people Bernie swindled. Unfortunately it will probably go into Andrew and Ruth's pockets. I would not read any of their books even if they were given to me free. It's just too hard to believe none of them knew nothing. They had way too many material possessions that cost too many millions (homes, boats, Rolex watches, etc., etc.,). Poor, poor Madoffs !!!
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