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March 26, 2010
Insider Trading
Madoff Was Beaten in PrisonMr. Madoff spends free time in the prison library on the weekends and often watches movies, including "Lethal Weapon," according to the former inmate. He said he chatted with the admitted Ponzi schemer on Saturdays in the library and asked for financial advice: "He gave me ideas on my index funds." Mr. Madoff advised him to diversify, saying he should invest in funds that track the S&P 500 index of stocks "where my money would be on all the stocks instead of putting my eggs into one basket," the former inmate said.
Posted by Vanderleun at March 26, 2010 2:39 PM. This is an entry on the sideblog of American Digest: Check it out.