Finally, some good news: Bernie is busted

Ponzi king Bernard Madoff, who already has a $170 billion judgment against him, is officially broke, federal officials say after scouring his many bank accounts and seizing property.

Of course, it all adds up to a helluva lot less than $170 billion. But at least his many hundreds of victims will go on with their lives knowing Madoff’s mad money was drained and he never returned to society.

CNN reports: “These include $60 million and three homes: A Manhattan apartment valued at $7.5 million, a $7 million house in Montauk, N.Y., and a $7.45 million home in Palm Beach, Fla.

“In addition, the government will get $1.48 million from the sale of a Madoff home in Cap d'Antibes, France, as well as furniture, artwork, jewelry other items. The Madoffs will also lose their interest in "tens of millions of dollars" in loans they had made to family, employees and friends”

If we lived in another era, the story of the avarice of Madoff and his many investors would be one of those fables meant to teach children the importance of not being greedy. Instead, it's a news story.

And there are many mini-Madoffs in our own community, fellows who groomed an immaculate image that separated investors out of many millions. Some were born that way, others got there gradually. But the result was the same. A lot of people have been taken.

In the coming weeks, I'll be bringing you some of the many examples.

Enjoy your Saturday.