More Ming Madoff Musings

Ming proposes an alternate solution to the illegal use of SIPC funds to cushion the Bernie Madoff imbroglio. Note that Madoff ran an unregistered investment pool which under Rule 3C7 of the Investment Company Act of 1940 is exempt from registration with the SEC. The idea being that providing investments for the portfolios of a limited number of "sophisticated investors" is outside the ambit of any necessary oversight of the authorities. It is not a brokerage firm which contributes funds to the SIPC for self insurance on the demise of member brokers and the SIPC fund should not be raided to save Bernie's dupes.

Yet, even now, Ming Industries is implementing a more appropriate response to assuage those well heeled "sophisticated investors" caught in Bernie's " too good to be true because it isn't", scheme. Ming plans to issue a limited edition of Bernie Madoff collector plates suitable for display in the home or office of his investors featuring the smiling avuncular countenance of Bernie Madoff. Each plate in the series will contain a pithy, but appropriate epithet. Choose from "I Got Mine With Madoff", "Madoff Mulcted Me" or the ever popular "Oy Vay Ist Meir".

A portion of the proceeds from every order will be deposited in the save Bernie Fund to be used for his insanity plea. Ming T. Merciless, President Emeritus of Ming Industries will also plan to put up his personal residence to ensure Bernie's bail is not revoked. Unfortunately, what with the decline in commodity prices, the price of cardboard has also declined thus undercutting the ability to cash out Ming's current domicile . Maybe Ming could just send Bernie cigarettes so he has something to trade while inside.