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Home › Money

The Greatest Depression | 12/18/2008 3:00 pm

An Aerial Tour of the Homes of Bernie Madoff and the Bailed-Out Bankers

So where did all that money go? Here, via VirtualGlobeTrotting.com, citizen journalists provide a peek behind the purported gates of greed

Photo Essay

Play Slideshow
As our former middle class prepares for America’s first All Wal-Mart Christmas, we decided to search for aerial and satellite glimpses of the extraordinary Hampton haciendas, Greenwich getaways and DC domains that belong to the Big Boyz of finance, at least according to the community members/citizen journalists of Virtual Globetrotting.

Yes, whether they ran banks that now need billions in taxpayer bailouts to survive, or sold mortgages to those who were never able to pay, or in the case of Bernie Madoff, were alleged Ponzi schemers, the question remains … where did all that money go?

From the look of these places, their firms may have made risky bets with leveraged money, but the bonuses they paid themselves?

Those dollars were real.
Read more about: Bear Stearns, Citigroup, Countrywide, Daniel Mudd, Deborah Barrow, Dick Fuld, Fannie Mae, financial crisis, Freddie Mac, John Thain, Merrill Lynch, News, Politics, Stanley O'Neal, The Greatest Depression

53 Reader Comments (so far…) Sign In or Register to comment

Sherrie Crews
Brian, I wasn’t saying that everybody who greedily took advantage of the circumstances is a Republican. What I said was the Bush economic policies created the circumstances under which unregulated greed could run rampant and unnoticed until it culminated in economic disaster for this country. The war served to distract most of the working people’s attentions from what was happening to them. They were screwed out of their jobs, pensions, benefits and life savings in the name of patriotism. “Hey, you there with the blue collar, stand here and wave the flag while I rob you blind.” Ergo, WMD (Weapon of Mass Distraction)
By Sherrie Crews on 12/19/2008 9:23 am
M. Starr
why is he holed up in his penthouse……why isn’t he in some small cell……he is out on bail with other people’s money………people, charities, hospitals, research centers……….all scammed……all gone……greed beyond gordon gecko’s “greed is good” motto in “wall street”………. was this movie an inkling of what was to come…….this man deserves no mercy………personally, i keep checking my retirement fund and am grateful that it is still solvent…i feel as if we are spinning out of control……..i pray for obama’s wisdom and ability to get us out of this mess………altho i know it won’t be painless….i hurt for this world
By M. Starr on 12/19/2008 8:45 pm
M. Starr
Spa Moi……….re: walmart………i was in walmart this week looking for hanukkah and christmas placemats……..i asked the clerk where they were….she smiled and said they do not have much of a selection of hanukkah items (we are in a predominently Jewish area) and she told me she is afraid to let her co-workers know that she is Jewish for fear of reprisal (i’m assuming loss of job) so she keeps it secret…..i looked at her in disbelief but she insisted she was afraid to let it be known…. spa moi, i am with you
By M. Starr on 12/19/2008 8:55 pm
Buh- Bye
“An Aerial Tour of the Homes of Bernie Madoff and the Bailed-Out Bankers” Obscene and shameful. Shun them all.
By Buh- Bye on 12/19/2008 9:08 pm
mitzi morris
Alias, Like they’d care if they were shunned. These crooks belong in jail and their properties bought with stolen shareholder money should be returned to the swindled stockholders s, and misled investors.. We need regulation,oversight and more oversight and enforcement of these laws through an SEC that fully functions. An Auditing Authority that fully functions should be actively engaged in examining all financial statements that Wall Street creates. Madoff needs life in solitary.
By mitzi morris on 12/20/2008 6:20 pm
Slinky Binx

The bankers whose houses are featured here should be punished, but it’ll never never happen and they know it.  They were allowed to perpetrate the biggest fraud in history with no consequences. Not only that, the very people they jerked around now have to pay to clean up their messes. The joke is on us each and every day for years to come, and they are all probably still laughing and toasting each other for pulling it off.  

 

By Slinky Binx on 06/30/2009 7:15 pm
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