made off
And now
I
said eye
let me show
in a figure
how far
our nature
is enlightened
or unenlightened:
— Behold!
human beings living in a underground den, which has a mouth open towards the light and reaching all along the den; here they have been from their childhood, and have their legs and necks chained so that they cannot move, and can only see before them, being prevented by the chains from turning round their heads. Above and behind them a fire is blazing at a distance, and between the fire and the prisoners there is a raised way; and you will see, if you look, a low wall built along the way, like the screen which marionette players have in front of them, over which they show the puppets.
The son of the last record holder for grift the burn the one who never knew until he was told by his daddy hung hum selvee with a dog leashthatll be ET the
And when he ceases to think them honourable and natural as heretofore, and he fails to discover the true, can
he be expected to pursue any life other than that which flatters his desires?
He cannot.
And from being a keeper of the law he is converted into a breaker of it? Unquestionably.
Now all this is very natural in students of philosophy such as I have described, and also, as I was just now
saying, most excusable.
Yes, he said; and, I may add, pitiable.
Therefore, that your feelings may not be moved to pity about our citizens who are now thirty years of age,
every care must be taken in introducing them to dialectic.
Certainly.
There is a danger lest they should taste the dear delight too early; for youngsters, as you may have observed,
when they first get the taste in their mouths, argue for amusement, and are always contradicting and refuting
others in imitation of those who refute them; like puppy-dogs, they rejoice in pulling and tearing at all who
come near them.
Yes, he said, there is nothing which they like better.
And when they have made many conquests and received defeats at the hands of many, they violently and
speedily get into a way of not believing anything which they believed before, and hence, not only they, but
philosophy and all that relates to it is apt to have a bad name with the rest of the world.
Too true, he said.
But when a man begins to get older, he will no longer be guilty of such insanity; he will imitate the
dialectician who is seeking for truth, and not the eristic, who is contradicting for the sake of amusement; and
the greater moderation of his character will increase instead of diminishing the honour of the pursuit.
Very true, he said.
And did we not make special provision for this, when we said that the disciples of philosophy were to be
orderly and steadfast, not, as now, any chance aspirant or intruder?
And how long is this stage of their lives to last?
Plato: Republic: Book VII http://www.constitution.org/pla/repub_07.htm22 of 23 9/22/2005 9:44 AMFifteen years, I answered; and when they have reached fifty years of age, then let those who still survive and
have distinguished themselves in every action of their lives and in every branch of knowledge come at last to
their consummation; the time has now arrived at which they must raise the eye of the soul to the universal
light which lightens all things, and behold the absolute good; for that is the, pattern according to which they
are to order the State and the lives of individuals, and the remainder of their own lives also; making
philosophy their chief pursuit, but, when their turn comes, toiling also at politics and ruling for the public
good, not as though they were performing some heroic action, but simply as a matter of duty; and when they
have brought up in each generation others like themselves and left them in their place to be governors of the
State, then they will depart to the Islands of the Blest and dwell there; and the city will give them public
memorials and sacrifices and honour them, if the Pythian oracle consent, as demi-gods, but if not, as in any
case blessed and divine.
You are a sculptor, Socrates, and have made statues of our governors faultless in beauty.
Yes, I said, Glaucon, and of our governesses too; for you must not suppose that what I have been saying
applies to men only and not to women as far as their natures can go.
There you are right, he said, since we have made them to share in all things like the men.
Well, I said, and you would agree (would you not?) that what has been said about the State and the
government is not a mere dream, and although difficult not impossible, but only possible in the way which
has been supposed; that is to say, when the true philosopher kings are born in a State, one or more of them,
despising the honours of this present world which they deem mean and worthless, esteeming above all things
right and the honour that springs from right, and regarding justice as the greatest and most necessary of all
things, whose ministers they are, and whose principles will be exalted by them when they set in order their
own city?
Not sure what the other collateral damage was to thataccident but this one here is going to toucha few more believers thanthese early fomoers thaAnd how long is this stage of their lives to last?
Plato: Republic: Book VII http://www.constitution.org/pla/repub_07.htm22 of 23 9/22/2005 9:44 AMFifteen years, I answered; and when they have reached fifty years of age, then let those who still survive and
have distinguished themselves in every action of their lives and in every branch of knowledge come at last to
their consummation; the time has now arrived at which they must raise the eye of the soul to the universal
light which lightens all things, and behold the absolute good; for that is the, pattern according to which they
are to order the State and the lives of individuals, and the remainder of their own lives also; making
philosophy their chief pursuit, but, when their turn comes, toiling also at politics and ruling for the public
good, not as though they were performing some heroic action, but simply as a matter of duty; and when they
have brought up in each generation others like themselves and left them in their place to be governors of the
State, then they will depart to the Islands of the Blest and dwell there; and the city will give them public
memorials and sacrifices and honour them, if the Pythian oracle consent, as demi-gods, but if not, as in any
case blessed and divine.
You are a sculptor, Socrates, and have made statues of our governors faultless in beauty.
Yes, I said, Glaucon, and of our governesses too; for you must not suppose that what I have been saying
applies to men only and not to women as far as their natures can go.
There you are right, he said, since we have made them to share in all things like the men.
Well, I said, and you would agree (would you not?) that what has been said about the State and the
government is not a mere dream, and although difficult not impossible, but only possible in the way which
has been supposed; that is to say, when the true philosopher kings are born in a State, one or more of them,
despising the honours of this present world which they deem mean and worthless, esteeming above all things
right and the honour that springs from right, and regarding justice as the greatest and most necessary of all
things, whose ministers they are, and whose principles will be exalted by them when they set in order their
own city?while they watch tiktok tik tok
Bernie Madoff
Bernie Madoff | |
|---|---|
 U.S. Department of Justice photograph, 2009 | |
| Born | Bernard Lawrence Madoff April 29, 1938 Queens, New York, U.S. |
| Died | April 14, 2021 (aged 82) Butner, North Carolina, U.S. |
| Alma mater |
|
| Occupation | |
| Employer | Bernard L. Madoff Investment Securities (founder) |
| Known for | Being the chairman of NASDAQ and the Madoff investment scandal |
| Criminal status | Died in prison |
| Spouse(s) | |
| Children | |
| Conviction(s) | March 12, 2009 (pleaded guilty) |
| Criminal charge | Securities fraud, investment advisor fraud, mail fraud, wire fraud, money laundering, false statements, perjury, making false filings with the SEC, theft from an employee benefit plan |
| Penalty | 150 years in prison, forfeiture of US$17.179 billion, lifetime ban from securities industry |
Bernard Lawrence Madoff (/ˈmeɪdɔːf/ MAY-dawf;[1] April 29, 1938 – April 14, 2021) was an American fraudster and financier who ran the largest Ponzi scheme in history, worth about $64.8 billion.[2][3] He was at one time chairman of the NASDAQ stock exchange.[4] He advanced the proliferation of electronic trading platforms and the concept of payment for order flow, which has been described as a "legal kickback".
Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities.[5] He served as the company's chairman until his arrest on December 11, 2008.[6][7] That year, the firm was the 6th largest market maker in S&P 500 stocks.[8]
At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now deceased sons Mark Madoff and Andrew Madoff. Peter was sentenced to 10 years in prison in 2012,[9] and Mark died by suicide by hanging in 2010, exactly two years after his father's arrest.[10][11][12][13] Andrew died of lymphoma on September 3, 2014.[14]
On December 10, 2008, Madoff's sons Mark and Andrew told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme, and quoted him as saying that it was "one big lie".[15][16][17] The following day, agents from the Federal Bureau of Investigation arrested Madoff and charged him with one count of securities fraud. The U.S. Securities and Exchange Commission (SEC) had previously conducted multiple investigations into his business practices but had not uncovered the massive fraud.[8] On March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. The Madoff investment scandal defrauded thousands of investors of billions of dollars. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking records for Madoff since the early 1970s.[18][19][20] Those charged with recovering the missing money believe that the investment operation may never have been legitimate.[21][22] The amount missing from client accounts was almost $65 billion, including fabricated gains.[23] The Securities Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion,[21] of which $14.418 billion has been recovered and returned, while the search for additional funds continues.[24] On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum sentence allowed.[25][26][27][28] On April 14, 2021, he died at the Federal Medical Center, Butner, in North Carolina, from chronic kidney disease.[29][30][31][32]
Mark Madoff
Mark Madoff | |
|---|---|
| Born | Mark David Madoff March 11, 1964 Long Island, New York, U.S. |
| Died | (aged 46) Manhattan, New York, U.S. |
| Education | University of Michigan, BA, Economics |
| Occupation | Financier |
| Known for | Responses to his father's fraud, including suicide |
| Spouse(s) |
|
| Children | 4 |
| Parents |
|
| Relatives |
|
Mark David Madoff (/ˈmeɪdɔːf/ MAY-doff;[1] March 11, 1964 – December 11, 2010) was an American financier, best known for his role in exposing the multi-billion dollar Ponzi scheme committed by his father, Bernie Madoff.[2][3]
Personal life[edit]
Madoff was born and raised on Long Island, New York, the elder of Bernard and Ruth Madoff's two sons. He earned a bachelor's degree in economics from the University of Michigan in 1986.[3] He joined the Sigma Alpha Mu fraternity there.[4] He married his college girlfriend, Susan Elkin, and moved to Greenwich, Connecticut, where they raised two children. They divorced in 2000, and he eventually moved back to Manhattan. In 2003, he married Stephanie Mikesell, with whom he had two children, born in 2006 and 2008.
Career[edit]
Madoff joined his father's company in 1987. He and his brother, Andrew Madoff (1966–2014), worked in the firm's legitimate market-making and proprietary trading arm.
Ponzi scheme scandal[edit]
In December 2008, Madoff and his brother confronted their father over his plans to distribute hundreds of millions of dollars in bonuses to employees months ahead of schedule. The elder Madoff then confessed to them that his business was based on a "big lie", a long-running Ponzi scheme that was collapsing under the global financial crisis.[5][6] He asked them to give him 24 hours to get his affairs in order, before going to the authorities. The brothers went to the authorities immediately on the advice of their lawyers, however; Bernard Madoff was arrested the next day. They never spoke with him again.[2]
While no criminal charges were filed against Mark Madoff, the scandal and its aftermath proved devastating to his personal and professional life. Madoff, his mother and his brother were all the subject of constant media attention, with articles speculating that they had been involved in their father's crime, or at least were aware of it. He also found it incredibly difficult to find employment.[7]
Death and aftermath[edit]
On December 11, 2010, Madoff was found dead in his Manhattan apartment at [8] 158 Mercer Street. With a dog leash tied to a beam, Mark Madoff hanged himself from the ceiling.[9][2][10] His suicide occurred on the second anniversary of his father's arrest.[7][11]
Madoff's estate amounted to $18.6 million.[4] In 2012, Madoff's ex-wife, Susan Elkin, and widow, Stephanie Mack, were sued by Irving Picard, the trustee for his father's swindled clients, under a claim they should have known their wealth was based on crime.[12][13] Mack had claims against her for tens of millions of dollars.[14]
Andrew Madoff
Andrew Madoff | |
|---|---|
| Born | April 8, 1966[1] Long Island, New York, U.S. |
| Died | September 3, 2014 (aged 48)[2] |
| Occupation | Financier |
| Known for | Response to his father's fraud |
| Spouse(s) | Deborah Anne West (m. 1992; sep. 2007) |
| Partner(s) | Catherine Hooper |
| Children | 2 |
| Parents |
|
| Relatives |
|
Andrew Madoff (/ˈmeɪdɔːf/ MAY-doff;[3] April 8, 1966 – September 3, 2014) was an American financier, best known for his role in exposing the financial crimes of his father, Bernie Madoff, whose Ponzi scheme has been widely described as the most successful in history.[2][1][4]
Biography[edit]
Andrew earned a bachelor's degree in economics from the University of Pennsylvania in 1988.[5] He and his brother, Mark, worked for their father's firm but in a division removed from their father's deceptive practices. As the financial crisis of 2008 made markets plunge, their father was unable to maintain the deception; they later described how he confessed to them and their mother, on December 10, 2008.[1] Their father asked them to give him 24 hours before going to the police so he could get his affairs in order, but the brothers chose not to; their father was arrested the next day, and the brothers never spoke with him again.
Andrew Madoff married Deborah Anne West in January 1992.[6][7] According to Jerry Oppenheimer's Madoff with the Money, the pair separated in 2007; Madoff later became engaged to Catherine Hooper, claiming that they met after his separation, although that has been disputed. Madoff and Hooper announced their plans to marry and lived together for years, but his divorce had not been completed prior to his death.[8][9]
Madoff was diagnosed with cancer in 2003.[1] His cancer went into remission, returning in 2011. Madoff attributed his relapse to the stress of the fallout over his father's crime. His brother had died by suicide in 2010. Madoff died while undergoing treatment, on September 3, 2014.[10]
Madoff and Hooper set up an agency that specialized in grief counseling.[1]
On his death, Reuters described ongoing attempts to sue Madoff and his brother's estate, in spite of a British court's ruling that the pair were not co-conspirators.[11] Irving Picard, trustee for their father's victims, sued Andrew, and sued his brother's estate, on July 15, 2014.[12][13]
Madoff retained an estate of $16 million.[9] His will left his estranged wife a substantial fraction of his estate. He had set up a trust which would have left $50,000 a month to Hooper and their daughter. Hooper, however, has told reporters that the trust fund was tied up in legal disputes, that she had received no money from it, and that she was living as if she might never receive those funds. She said she had downsized to a 500 sq ft (46 m2) apartment, where she and her daughter shared a set of bunkbeds.
Ruth Madoff
Ruth Madoff | |
|---|---|
| Born | Ruth Alpern May 18, 1941 New York City, U.S. |
| Alma mater | New York University Queens College |
| Occupation | Bookkeeper |
| Employer | Bernard L. Madoff Investment Securities |
| Spouse(s) | |
| Children | |
Ruth Madoff (/ˈmeɪdɔːf/ MAY-doff;[1] née Alpern; born May 18, 1941)[2] is the widow of Bernie Madoff, the convicted American financial fraudster who served a prison sentence for a criminal financial scheme until his death in April 2021. After her husband's arrest for his fraud, she and her husband attempted suicide in 2008. While she had $70 million in assets in her name, after her husband was imprisoned, she was stripped of all of her money other than $1–2 million, by the government and by the trustee for her husband's firm, Irving Picard.
Early life[edit]
Madoff was born in Queens, New York, to Saul (an accountant who died in 1999, at age 95) and Sara (Presser) Alpern (died in 1996, at age 92),[3][4] and raised in middle class Laurelton, Queens,[5] in a practicing Jewish family. She has one sister, Joan Roman.[3] A graduate of Far Rockaway High School and a 1961 graduate of Queens College with a degree in Psychology, she graduated from New York University with a Master of Science degree in nutrition in 1992.[6][7][5][8][9]
Personal life[edit]
On November 28, 1959, at age 18, she married Bernie Madoff,[10] whom she had met while attending Far Rockaway High School. He was three years older than Ruth.[5]
They had two sons, Mark (1964–2010), a 1986 graduate of the University of Michigan;[11] and Andrew (1966–2014), a 1988 graduate of University of Pennsylvania's Wharton School.[12][13][14][15] Both of her sons predeceased her: Mark, by suicide, in 2010, and Andrew, from lymphoma, in 2014. On the morning of December 11, 2010 — exactly two years after his father's arrest — Mark was found dead in his New York City apartment. The city medical examiner ruled the cause of death as suicide by hanging.[16][17][18]
She worked for some time as her husband's bookkeeper.[19] A Vanity Fair article stated that, during the time when she was a bookkeeper, employees in the London office stated "Ruthie runs all the books".[19] She was a director of Bernard L. Madoff Investment Securities.[20]
Ruth stated during an interview that she and her husband were so upset after his financial fraud was exposed that they had attempted suicide together, with both taking "a bunch of pills" (Ambien, and perhaps Klonopin) in a suicide pact on Christmas Eve 2008, just after her husband had been arrested by federal authorities.[21][22] However, they woke up the following day.[22]
When Ruth Madoff's husband was sentenced in 2009, victim Marcia FitzMaurice said in a court statement: "Your wife, rightfully so, has been vilified and shunned by her friends in the community."[23] After her husband was sent to prison, Ruth Madoff sought to avoid being recognized in public, even dyeing her hair red as she tried to avoid people recognizing who she was.[22]
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