Bernie Madoff Tells Gasparino He’s a Victim of Wall Street

On Madoff’s claims he is helping Harvard Business School develop a course on business ethics: ‘At least in his mind, he’s getting ready to help the prestigious Harvard Business School develop course work for its students from his jail cell at Butner. Madoff said that Harvard is interested in his input to develop a course business ethics. Now he tells Fox Business that the school’s focus is in building an Entrepreneurial course.’ The course, according to Madoff, will focus around my experiences building my market making and Prop trading business and my role in NASDAQ and electronic trading. I have been approached by number of other business schools but have only committed to Harvard.’ Some strange turn of events, HUH!’ he writes about academia’s interest in what he has to say. Yes, if they were true.’

Bernard Madoff

Bernard Madoff

On Harvard’s response to whether Bernie Madoff is helping them design a course for business school students: ‘The entire matter is not true,’ a spokesman for the Harvard Business School told the Fox Business Network. ‘The business school is not working with Bernard Madoff on anything.’

On Madoff’s allegations that SAC capital is guilty of insider trading: ‘SAC, which is being investigated by Justice Department as part of its probe, says it has done nothing wrong, and neither the firm nor Cohen has been charged with civil or criminal securities law violations. But Madoff says SAC along with its major competitors have been relying on insider tips for years. The only reason the regulators are addressing it now is because of the uproar in Congress (about insider trading abuses) How did Geithner and Paulson escape as they did?,’ he writes referring to the former Treasury Secretary Hank Paulson and the current on Tim Geithner, though it’s unclear what they have to do with insider trading.’ The worst kept secret was Steve Cohn’s trading as well as most other hedge funds.”

On Madoff’s interactions with SAC Capital Chief Steve Cohen: ‘How does he know SAC relies on insider information? Madoff says that while he never met Steve Cohen,’ he once called Cohen and told ‘him to stop his managers from approaching my traders with their offer to give them info if we let SAC execute our commission business”

On SAC Capital’s response: ‘A spokesman for SAC Capital counters that Steven Cohen has never met or spoken with Bernard Madoff and any such assertion is absolutely false.”

‘Madoff contends he’s not really the world’s greatest swindler who with the help of a few clerks and back office people carried out a 2-decade long white collar crime spree. Rather, he’s somewhat of a victim who turned to crime as a way of dealing with unscrupulous Wall Street types that are found all over the financial services business.’

Dr. Keith Ablow on Madoff’s psychological state: ”Madoff developed an artificial sense of reality. Now even in prison he is trying to do the same thing.’

Ablow also says that enticing the media to believe he is still important with places like Harvard, or has inside knowledge into how Wall Street really works fills a pathological need for Madoff to make people believe he is special and capable of extraordinary talents as he has done for so long in his life.’ Ablow believes it’s that pathological narcissism’ that drove Madoff to prove to the world he was a great investor even if he had to lie and cheat his way to the top.’

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