by John Walters
Starting Five
Feel The Bern*
The judges will also accept “Weakened at Bernie’s,” “Madoff Money,” “Sit On It, Ponzi,” “The Big Schwartz,” and of course, the always popular “He Madoff With Our Money.”
For the second night in a row (O.J.), television treated us to the first installment of a miniseries about a latter-day monster (here, we are making the incredible leap of faith that The Juice did it….A HA HA HA HA HA HA HA HA!). In terms of style and cinematography, the two-part miniseries starring Richard Dreyfuss as Bernie Madoff and Blythe Danner as Ruth Madoff isn’t earth-shattering, but it is intensely watchable, if only to see how lax the SEC! SEC! was.
If it weren’t for one rogue vigilante, played by Frank Whaley of “Pulp Fiction” fame (“Check out the big brain on Brad,” indeed), Madoff might still be bilking people.
Dig: Madoff accepted people’s money, created false balance sheets to make them believe that they were doing well, and then just hoped he’d die before enough people all wanted to cash in at once. It was brilliant. But he was no worse than the a-holes on Wall Street, especially at Goldman Sachs, who advised clients to buy collateralized debt options while they were shorting them. That’s like telling someone to go left at the fork in the road as you are planting IEDs in that fork.
2. Will Y’All Stop Kidnapping George Clooney, Please?
How many movies will open this month in which George Clooney is kidnapped? So far the count is at two. Heres’s the trailer for Hail, Caesar, a capital-Z Zany Comedy by the Coen Brothers:
And then at the other end of the spectrum you have the Occupy Wall Street-Revenge Porn fantasy Money Monster, in which Clooney plays a Jim Cramer-like figure who is taken hostage by a young man who wants some answers as to why he lost all his money in the subprime-mortgage crisis (short answer: because people who earn $30K a year think they can afford, or at least belong in, $500K homes, and no mortgage company was going to tell them they were wrong, and the government wasn’t doing its job to police it).
I don’t think this will have as many laughs. Oh, it also has Julia Roberts and a song from Bruce Springsteen. Trivia note: When I was in college, a guy back in Phoenix, Joseph Billy Gwin, took our beloved local CBS anchor, Bill Close, hostage on air. Gwen had a gun. The standoff lasted for about 5 hours and Close was a total pro throughout. The man eventually surrendered but it was (pulls off sunglasses)…a Close call.
3. “Please Clap”
https://www.youtube.com/watch?v=f5J8RRXnUjk
An immediate family member of two former United States presidents, Jeb Bush seems like a decent enough guy. He’s just not a charismatic leader. Here’s his entire failed presidential campaign in 34 seconds.
4. Ann Arboretum
National Signing Day was pretty much a snooze, in terms of surprises. Rashan Gary, as expected, chose Michigan. Ben Davis, who grew up in Gordo, Ala., just up the road from Tuscaloosa, where his dad played in college, chose Alabama. All of Notre Dame’s 23 verbal commitments signed with Notre Dame. And the one five-star from Fresno they hoped to get, Caleb Kelly, did not choose the Irish.
It was all either very familiar or very expected.
Meanwhile, the VA-BU-CLF Brain Bank reported that 90 of the 94 brains of former NFL players that they studied showed signs of CTE. So well above 90%.
5. “Bad News On the Doorstep…”
We were remiss yesterday here at MH—sometimes the culture page editor walks in drunk and I just have to send her home—in noting that it was the 57th anniversary of the death of Buddy Holly, Richie Valens, and the Big Bopper, who along with their pilot, 21 year-old Roger Peterson, perished shortly after takeoff from an airport in Clear Lake, Iowa, en route to Fargo, N.D.
Of course, their deaths were the inspiration for, 12 years later, Don McLean’s classic song, “American Pie.” McLean would have been a 13 year-old then, a.k.a. a “lonely teenage broncin’ buck/With a pink carnation and a pickup truck…”
Up above is the last photo taken of Holly, performing at the Surf ballroom in Clear Lake on the night of February 2nd. The photo was taken by 15 year-old Mary Gerber.
A few items worth noting (I think most, if not all, of these are true):
–Holly was only 22 years old when he died.
–One of his biggest hits was “That’ll Be The Day,” which as you likely know, ends with the line, “That’ll be the da-a-ay, when I die!”
https://www.youtube.com/watch?v=kVGM86XIilw
–The Beatles were so enamored of Holly’s talent (very similar musical style early in their career) that they named their band in homage to Holly’s backup band, the Crickets.
–Gerber and her brother drove home to Walters, Minn., after the concert. Well, at least they intended to. Her brother lost control of the vehicle and ran off into a ditch. They were unharmed, but had to walk home, probably because their smartphones died.
–Gerber returned to the Surf ballroom for a 50th anniversary commemoration of the three fallen performers. I believe it was her first time back.
–Waylon Jennings was supposed to ride in the plane, as you probably know, but gave up his seat to the Big Bopper. Another band member lost his seat in a coin toss to Valens. They’d all been riding on a tour bus during this tour 3-week tour and Holly was sick of the cold, all-night rides, which is why he hired a plane.
Music 101
Don’t Let Me Get Me
Pink is one of those artists I rarely think about and then when I do I think, “Oh yeah, Pink. She’s cool.” Is it only coincidence that Pink and Tina fey are both from Philly? They seem to have the same approach to life and people, no? This was the second song of her debut album and reached No. 8 on the Billboard chart in 2002
Remote Patrol
30 for 30: The ’85 Bears
ESPN 9 p.m.
A good friend recently named his first child, a girl, Bear (UPDATE: the friend’s child is a boy; big, if true. Now what do I do with this pink onesie?), and it was in some way connected to this franchise. I’ve never seen an NFL defense that even comes close to approaching the ’85 Bears. They’d have ended Leo DiCaprio. And I’ll never understand why Mike Ditka, with a gift touchdown to hand out late in the Super Bowl, let William Perry score it and not Walter Payton. I may be wrong, but I think these Bears were the last team to lose just one game and then win the Super Bowl. You’re up, Cam-olina.
I’d been looking forward to the Madoff mini-series for months (actually YEARS – ever since the Ponzi scheme became exposed) but so far, I’m disappointed. Especially when compared to the O.J. series. All of the actors are good (although Dreyfuss is far too heavy as Madoff. When did RD get that big?!) but two things are desperately missing – knowledge of the actual years when the various scenes occurred & what exactly Madoff & all his “employees” in the illegal part of his business thought & felt about what they were doing. Also, the show is definitely pushing that the sons, brother & wife supposedly knew nothing about his fraud. From the various things I’ve read about the case (best articles were actually in ‘Vanity Fair’ mag month after month), I don’t think that was proved. Especially for the wife as she was at one time her husband’s bookkeeper. And if my memory is correct, his brother was later convicted of something too.
Also, Markopolous did NOT bring Bernie down. The SEC infamously ignored/disregarded his claims for 10 YEARS. Bernie’s demise was brought on by the 2008 economic Armageddon; too many of his investors all wanted to pull their money out at once & he didn’t have enough cash to cover.
Maybe your “local” media covered it a bit differently than the national media, but at least the latter presented the story up until the trial as if ALL Madoff’s investors were the super rich (& or famous). Right before the trial began, the judge released hundreds of the letters from his victims that he had requested they write the court. I printed them all out & read. Fascinating & very illuminating! Yes, many of his investors were the very rich, but many were just hard working & successful. Some were elderly (&/or widowed) & completely wiped out as ALL their money was with Madoff.
What most of America doesn’t seem to know is that MOST of the money has been recovered & a large chunk returned to the investors! Of course, the court-appointed “investigator” kept a large amount for his work, but still, it’s amazing that so much of the money has been returned. Quite unusual for a Ponzi scheme I think. Also, it was NOT $50 billion but closer to $20 billion. What I don’t know is if any of those folks that invested with Madoff (often unaware) through the various “feeder funds” have gotten any of their money back as at least for the 1st several years I’d read that they would receive nothing.
About the subprime mortgage crisis – you’re kidding when you wrote that “no mortgage company was going to tell” the $30k/year folks that they couldn’t afford a $500k house, right? The MORTGAGE COMPANIES ENCOURAGED these folks to get these loans! THEY came up with the bastardized version of ARMS that put those folks in those houses! So, “TELL” those people not to get the loans that THEY created so THEY could keep making money?! And the federal government “helped out” by removing various loan requirements that had been in place for decades.
And FYI – “subprime mortgages” started in Orange County, CA. because housing prices there had become insane & very few could afford a house using the traditional parameters for a loan. For decades, the median house in this country cost 3 times the median income. By 2004-2007, it had jumped to 5 times in many areas & in Orange County, the median house cost 10 TIMES the median income. Any idiot should have known that was NOT sustainable! But the mortgage companies & bank vultures didn’t care, as long as THEY kept making money off the ignorant. And this was true of the counties & states taking THEIR cuts from all the “closing fees”. And let’s not forget the real estate & home building companies – they ALL profited from a FRAUD that makes Madoff look like a freakin amateur!
Sometimes I think Susie B. types all her comments in Irascible Ink. 🙂
Anyway, I hear the Cavs lost last night…
Yo. You knocking people from Philly?