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Help Wanted: No Madoffs Need Apply

Even those cleared of wrongdoing can't find finance work

By Harry Kimball,  Newser Staff

Posted Dec 10, 2009 11:40 AM CST
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(Newser) – Add his former employees to the list of of Bernard Madoff's victims—and that includes his sons. Wherever it appears, the Madoff name on a résumé is toxic for those trying to continue to work in finance, experts say. Mark Madoff, who worked for his father for 20 years, is reportedly trying to find a job in trading. Fat chance, one employer tells the Wall Street Journal: “He's untouchable in any firm that deals with the public.”

Family members aren’t the only ones touched by the noxious name. “I'll never get a job in finance,” says a former Madoff secretary and budding hairdresser. Still, she has perspective. “I'm one of the lucky ones.” Case in point: Another former employee is trying to recover $200,000 she invested with Madoff, but the hurdles are higher for insiders. And she’s job-hunting. “I need someone who doesn't care about Madoff,” she says. Good luck.

Bernard Madoff arrives at Federal Court last January.
Bernard Madoff arrives at Federal Court last January.   (AP Photo)
Bernard L. Madoff in 1999.
Bernard L. Madoff in 1999.   (AP Photo)
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COMMENTS
Showing 3 of 12 comments
davjc09
Dec 10, 2009 10:30 AM CST
How disgustingly poetic.
BlueAyez
Dec 10, 2009 9:36 AM CST
When the sh*t hits the fan it gets on everyone!
Spudsy
Dec 10, 2009 9:17 AM CST
Certainly any employee that is truly innocent and removed from the scheming deserves empathy. The kid, I dunno, if he actually is talented in finance but never had the brains to ask his old man what was going on with the impossibly high returns then I wouldn't trust him.

 
finance • Ponzi scheme • resume • Bernard Madoff • Bernard L. Madoff Investment Securities • Andrew Madoff • Mark Madoff • job prospects • former employees • Madoff employees

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