Marion Brothers

Marion Brothers

Tuesday, December 23, 2008

The Fathom of Wealth – Part 1

In the beginning, Bernard L. Madoff created wealth out of the sky. Like magic, he commanded the securities market, “Let there be wealth.” And, out of nowhere, came wealth by the billions. But the wealth was not real. So, out of nowhere, the earth opened its mouth and consumed the fathom called wealth. And there, a pyre of dreams burn on the altar.

On Friday morning, December 11, 2008, federal agents descended onto Bernard Madoff’s Manhattan penthouse and arrested him for operating a multi-billion dollar Ponzi scheme.

About 7:30 a.m. this morning, police were called to the Madison Avenue office of Access International. It is reported that 65-year old hedge fund manager Thierry Magon de La Villehuchet had killed himself, being distraught, family members say, over losing the $1.4 billion Luxembourg-based LUXALPHA SICAV-American Selection fund in Bernard L. Madoff Investment Securities.

This is only the beginning.

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