That old renegade Wall Street fund manager Bernard Madoff could plead guilty as early as next week to swindling clients out of billions of dollars by running a Ponzi scheme masquerading as a $50 billion investment empire.
Insiders say that Madoff may try to plea bargain as he has waived a formal grand jury indictment, a step usually taken by defendants negotiating a plea bargain.
In return for his freedom, they report that Madoff will teach his 50-years success at fake investments to President Barack Obama to use in future borrowings from China.
Madoff would also get completely out of any investment companies and go into the clothing business, using the income from these to begin repaying all the people that he owes money.
"I can't help repay anyone while in jail", reasoned Madoff. "If I use some of the money I have left in the clothing business, specializing in fleece, I'll at least be able to return some of their lost millions. Of course, the President must talk to congress to approve me a small bailout loan up front."
The US government is scheduled to outline charges against Madoff at an arraignment hearing in Manhattan scheduled for Thursday before a federal judge, Denny Chin.
One report is also circulating that the highly recognized villain, Madoff, could star as a villain in some movies to generate funds.
One computer site listed the first one projected would be titled, "Slimeball Billionaire".
Madoff would play the role of a greedy shyster who sent his real jewelry to an offshore bank while the jewelry sent to his family turns out to be cubic zirconium.