From Crane Collapses to Politics as Unusual: 2008 in Review
25 photos
<b>Fatal Construction Collapse at the Trump Soho</b>, January 14: What was initially thought to be a scaffolding collapse at the under-construction Trump Soho turned out to be a <a href="http://gothamist.com/2008/01/14/breaking_collap.php">partial collapse of newly-poured concrete 42nd floor</a>. Workers had been pouring concrete into molds which broke; one worker, Yuriy Vanchytskyy, <a href="http://gothamist.com/2008/01/15/construction_wo_1.php">fell 42 stories to his death</a> while one was caught by the safety netting. Critics said the construction crews were rushing the job, A stop-work order for the upper floors was put in effect until August.
<b>Rudy Can Fail</b>, January 30: In 2007, former mayor Rudy Giuliani was the Republican candidate that everyone thought be on the 2008 presidential ticket. But his presidential campaign never seemed to get off the ground, as his campaign decided to hold off on campaigning in <a href="http://gothamist.com/2008/01/03/giuliani_writes.php">Iowa</a> and New Hampshire, <a href="http://gothamist.com/2008/01/29/rudy_giulianis_1.php">counting on winning big in Florida</a> ...only to come in third there and <a href="http://gothamist.com/2008/01/30/rudy_giuliani_o.php">drop out of the race the next day</a>âand endorse John McCain. Perhaps Vice President-elect Joe Biden's <a href="http://gothamist.com/2008/08/19/flashback_joe_bidens_assessment_of.php">2007 words</a> about Giulianiâstuck, but he may be back to run for <a href="http://gothamist.com/2008/11/17/giuliani_wont_rule_out_running_for.php">NY Governor... or President again</a>.
<b>Giants Win Super Bowl</b>, February 3: After <a href="http://gothamist.com/2008/01/20/giants_bag_pack.php">defeating the Green Bay Packers in overtime</a>âand below-zero conditionsâto win the NFC Championship, no one was expecting the Giants to win against the 16-0 (regular season) New England Patriots. Which is why <a href="http://gothamist.com/2008/02/03/liveblogging_su.php">their 17-14 victory over the Pats</a> was all the more exciting, what with an amazing catch by David Tyree. The city <a href="http://gothamist.com/2008/02/05/watching_the_gi.php">feted the Giants with a ticker tape parade</a> and awaited to be dazzled by a Giant wearing a <a href="http://gothamist.com/2008/05/30/ten_table_at_ti.php">ten-table ring</a>.
<b>Times Square Bombing</b>, March 6: Early in the morning, a <a href="http://gothamist.com/2008/03/06/times_square_ex.php">small explosion occurred</a> in front of the Armed Forces recruiting Center at Broadway and West 43rd Street. Witnesses and surveillance video pointed the police to a bicyclist who apparently threw a device toward the center. A bicycle was found <a href="http://gothamist.com/2008/04/03/police_hopes_bi.php">abandoned a few blocks away</a>. It's believed the same suspect was behind the <a href="http://gothamist.com/2005/05/05/explosions_at_british_consulate_in_midtown.php">2005 British Consulate bombing</a><a></a>, the <a href="http://gothamist.com/2007/10/26/grenades_lobbed.php">2007 Mexican Consulate bombing</a> and the recent <a href="http://gothamist.com/2008/12/11/greek_consulate_vandalism_work_of_c.php">Greek Consulate vandalism</a>. The suspect is still at large.
<b>Governor Spitzer, a.k.a. Client No. 9</b>, March 10: After reports that he, former crusading Attorney General and Governor whose platform was "Day One: Everything Changes," was involved with a prostitution ring, <a href="http://gothamist.com/2008/03/10/governor_spitze_1.php">Eliot Spitzer met the press</a>, with wife Silda Wall Spitzer at his side, saying, "I have acted in a way that violates my obligations to my family, that violates my -- or any -- sense of right and wrong. I apologize first, and most importantly, to my family. I apologize to the public, whom I promised better." In the days following, there was talk of <a href="http://gothamist.com/2008/03/10/client_9_paid_4.php">his habits</a>, <a href="http://gothamist.com/2008/03/11/spizter_not_lik.php">resignation</a>, and how the <a href="http://gothamist.com/2008/03/12/spitzer_expecte.php">feds caught him</a>. The hooker he met with was <a href="http://gothamist.com/2008/03/12/spitzers_kriste.php">revealed to be a Jersey girl</a> with hopes of a singing career and a <a href="http://gothamist.com/2008/03/19/kristen_gone_wi.php">Girls Gone Wild past</a>. Spitzer ultimately <a href="http://gothamist.com/2008/03/12/spitzer_to_give.php">resigned on March 12</a>, retreating to work for his father's real estate company. Post-script: It turned out Spitzer <i>was</i> <a href="http://gothamist.com/2008/03/24/spitzer_totally.php">involved with Troopergate</a> (his 2007 scandal), the feds <a href="http://gothamist.com/2008/11/06/no_charges_will_be_filed_against_sp.php">didn't press charges</a> against him for being a john, and Spitzer <a href="http://gothamist.com/2008/12/03/spitzer_new_gig_writing_for_slate.php">started writing for Slate</a>.
<b>The 55th Governor of New York, David Paterson</b>, March 12: With Spitzer's resignation, the spotlight shifted to his lieutenant governor, <a href="http://gothamist.com/2008/03/12/meet_your_futur.php">David Paterson</a>. A legally blind, popular State Senator from Harlem, Paterson was thrust into the spotlight and <a href="http://gothamist.com/2008/03/17/governor_david.php">said at his inauguration</a>, "I can believe we can weather the storm, I've worked for New Yorkers my whole life. I don't know the path yet because we haven't blazed the trail, and I think you all know I know a little something about finding my way in the dark." But then, in apparent pre-emptive strikes against the media, he and his wife revealed they each had <a href="http://gothamist.com/2008/03/19/the_neverending.php">extra-marital affairs</a> and Paterson <a href="http://gothamist.com/2008/03/25/paterson_did_a.php">admitted to using cocaine</a>. The "accidental governor" warned about the state's economic situation months before the financial industry's collapse, offer his austere <a href="http://gothamist.com/2008/12/16/patersons_new_budget_reflects_new_f.php">take on a budget</a>, and <a href="http://gothamist.com/2008/12/24/kennedy_headache_for_paterson.php">must appoint someone</a> to Hillary Clinton's Senate seat. He even inspired SNL to satirize him, <a href="http://gothamist.com/2008/12/15/gov_paterson_annoyed_by_snl_skit.php">to his dismay</a>.
<b>Midtown Crane Collapse Kills 7</b>, March 15: A huge crane <a href="http://gothamist.com/2008/03/15/midtown_crane_c.php crane">toppled off a building</a> under construction on East 50th Street near 2nd Avenue in Manhattan. Workers were trying to "jump" the crane to another floor and it fell, hitting a building across the street. One part of the crane detach and leveled a townhouse. Seven people, six construction workers and one woman in the townhouse, were killed and the incident forced the Department of Buildings to monitor cranes more carefully. It's believed a worn out nylon sling, one of many used to attach the crane to the building, <a href="http://gothamist.com/2008/03/18/with_seven_dead.php">was to blame</a>, but it also turned out the building's plans should never have been approved. A DOB inspector was arrested for <a href="http://gothamist.com/2008/03/20/crane_collapsed.php">filing a false report about the site</a>, the DOB commissioner <a href="http://gothamist.com/2008/04/22/mayor_bloomberg_41.php">eventually resigned</a>, and the <a href="http://gothamist.com/2008/08/02/possible_foreclosure_of_midtown_cra.php">site may be foreclosed</a>.
<b>Congestion Pricing Dies in Albany</b>, April 7: Mayor Bloomberg's controversial plan to <a href="http://gothamist.com/2007/04/23/yes_there_is_co.php">put fees on vehicles entering Manhattan</a> was <a href="http://gothamist.com/2008/02/01/bloomberg_accep.php">modified to move the border</a> down to 60th Street (from 86th Street) and <a href="http://gothamist.com/2008/03/31/city_council_to_1.php">advanced through the City Council</a>. But dreams of additional mass transit revenue, not to mention $350 million in federal funding, went up in smoke when Assembly Leader Sheldon Silver announced the Assembly <a href="http://gothamist.com/2008/04/07/breaking_silver.php">rejected the plan</a>. Mayor Bloomberg, who had the support of Governor Paterson and Senate Majority Leader Joseph Bruno, thought it <a href="http://gothamist.com/2008/04/08/congestion_pric_9.php">was "shameful" and cowardly</a> that the Assembly didn't even vote on the plan.
<b>Pope Benedict Visits NYC</b>, April 18: Making his first trip to New York City since 1988âand his first as the ponitffâPope Benedict XVI <a href="http://gothamist.com/2008/04/18/pope_benedict_a.php">arrived to fanfare</a>. He made some historic firsts: He <a href="http://gothamist.com/2008/04/04/pope_will_make.php">met with Catholic Church sex abuse victims</a> (in D.C.), <a href="http://gothamist.com/2008/04/19/thousands_greet.php">visited a synagogue</a>, asked <a href="http://gothamist.com/2008/04/20/pope_benedict_v.php">for healing at Ground Zero</a> and <a href="http://gothamist.com/2008/04/20/nyers_show_up_i.php">gave communion to divorced former mayor Rudy Giuliani</a>! The highlight of his trip was a <a href="http://gothamist.com/2008/04/21/pope_benedict.php">mass to over 60,000 at Yankee Stadium</a>, where one attendee said, "I have never seen Yankee Stadium so beautiful, and I have season's tickets."
<b>Sean Bell Shooting Cops Found Not Guilty</b>, April 25: The three policer officers charged in the fatal shooting of a Queens man outside a nightclub were <a href="http://gothamist.com/2008/04/25/sean_bell_shoot_7.php">found not guilty</a> of manslaughter, assault and reckless endangerment by a judge. <a href="http://gothamist.com/2006/11/26/police_under_fi.php">Fifty bullets were fired</a> at Sean Bell, Joseph Guzman, and Trent Benefield, and Bell died of his injuries, hours before his wedding day, in 2006. Judge Arthur Cooperman apparently found issues with witnesses and added, "Carelessness is not a crime." The verdict <a href="http://gothamist.com/2008/04/26/protest_over_se.php">stunned, saddened and angered many</a>, and the Reverend Al Sharpton organized a <a href="http://gothamist.com/2008/05/07/sean_bell_civil.php">series of civil disobedience pray-ins all over the city</a> in May (over <a href="http://gothamist.com/2008/05/08/over_200_arrest.php">200 were arrested</a>). The U.S. Attorney's office is considering bringing charges against the officers.
<b>Upper East Side Crane Collapse, May 30: Not two months after the fatal Midtown crane collapse, a crane <a href="http://gothamist.com/2008/05/30/breaking_manhat.php">fell at a site on East 91st and First Avenue</a>. Two construction workers were killed as the Department of Buildings believed a <a href="http://gothamist.com/2008/05/31/all_crane_opera.php">faulty weld in the crane's turntable caused</a> the collapse. The crane had been damaged after being <a href="http://gothamist.com/2008/06/08/questions_about_4.php">struck by lightning</a>, but it was welded and put back in use. The DOB suspended crane activity and a crane inspector for the DOB was <a href="http://gothamist.com/2008/06/07/allegedly_corru.php">arrested for corruption</a> (but not for this incident).</b>
<b>Hillary Clinton and Those 18 Million Cracks in the Glass Ceiling</b>, June 7: The tough primary battle between Hillary Clinton and Barack Obama provided many months of dramaâeven up until the Democratic National Convention. After unexpectedly coming in <a href="http://gothamist.com/2008/01/03/obama_wins_iowa.php">third in Iowa</a>, Clinton, long believed to be the surefire Democratic presidential nominee, suddenly became an underdog. Sure, she won New Hampshire (where she was sensitive!)âand big Super Tuesday statesâbut Obama built an insurmountable leads of delegates by winning many other states. And let's not forget Bill Clinton's <a href="http://gothamist.com/2008/01/12/bill_clinton_ex.php">"attempts"</a> <a href="http://gothamist.com/2008/04/11/bill_clinton_br.php">to help</a>. By June, Clinton decided to drop out and in her <a href="http://gothamist.com/2008/06/07/hillary_clinton_5.php">concession speech</a>, she referred to her female supporters, "Although we weren't able to shatter that highest, hardest glass ceiling this time, thanks to you, it's got about 18 million cracks in it." She <a href="http://gothamist.com/2008/06/28/new_bffs_clinton_and_obama_appear_t.php">pledged to support Obama</a>, yet there were worries about what might happen at the convention âand speculation Obama could tap her as VP. Clinton ended up giving a <a href="http://gothamist.com/2008/08/27/hillary_clinton_says_barack.php">rousing speech praising Obama</a> (Bill also brought down the house) and closed out the year as <a href="http://gothamist.com/2008/12/01/its_almost_official_obama_welcomes.php">Obama's Secretary-of-State nominee</a>.
<b>Rangel Has Four Rent-Stabilized Apartments</b>, July 11: The chairman of the House Ways and Means Committee became a target for the press starting in the summer. The NY Times reported that Representative Charles Rangel had not one, not two, not three but <a href="http://gothamist.com/2008/07/11/congressman_charles_rangel_and_his.php">four rent-stabilized apartments</a>, which didn't sit well with constituents who have been evicted from their lone rent-stabilized apartments. Then the Post found out about his <a href="http://gothamist.com/2008/08/31/rep_rangels_caribbean_casita.php">vacation villa and unreported income</a> from it, which lead to disclosures that he owed <a href="http://gothamist.com/2008/09/10/rangel_owes_federal_taxes_too.php">federal taxes too</a>. The Times more recently questioned a <a href="http://gothamist.com/2008/12/03/rep_rangel_vs_the_ny_times.php">large donation to a school</a> being named after him from an oil executive who benefited from a tax loophole Rangel preserved. All of this is being investigated by the <a href="http://gothamist.com/2008/09/25/house_ethic_committee_to_look_at_ra.php">House Ethics Committee</a>, which may have a report next month.
<b>Cop Body-Slamming Cyclist Video Surfaces</b>, July 28: Tensions between cyclists and the NYPD have been wary and simmering since the 2004 Republican National Convention, when Critical Mass bike rides became more popular (the city unsuccessfully <a href="http://gothamist.com/2006/02/16/judge_tells_cit.php">tried to bar the ride</a>). But a <a href="http://gothamist.com/2008/07/28/cop_caught_on_video_assaulting_cycl.php">video of a police officer shoving a cyclist emergedtold the Daily News</a>, "The video is badâwhat can you say?" In December, Pogan <a href="http://gothamist.com/2008/12/16/patrick_pogan_alleged_cyclist_bodys.php">pleaded not guilty to assault and filing a false report</a>.
<b>Car-Free Streets (on Three Saturdays)</b>, August: The Bloomberg administration continued its efforts to make the city more pedestrian and cyclist friendly, by adding more bike lanes and claiming <a href="http://gothamist.com/2008/08/05/get_ready_for_the_broadway_boulevar.php">street space for walkways</a>. In an August experiment, Summer Streets, the city <a href="http://gothamist.com/2008/06/16/carfree_manhattan_boulevards_on_aug.php">shut down five miles</a> in Manhattan, from the Brooklyn Bridge, up Centre Street and Lafayette Street to Fourth Avenue and Park Avenue, for pedestrians, cyclists, Rollerbladers, and more, with yoga classes, music and dancing along the streets. The program was <a href="http://gothamist.com/2008/08/10/successful_summer_streets_saturday.php">mostly well-received</a> and the city says it will be <a href="http://gothamist.com/2008/09/24/carfree_summer_streets_will_return.php">brought back in 2009 in an expanded form</a>.
<b>The Hockey Mom from Alaska</b>, August 29: Stealing Barack Obama's post-DNC thunder, John McCain turned the presidential race on its ear by announcing his VP pick: <a href="http://gothamist.com/2008/08/29/sarah_palin_is_the_first_republican.php">Alaska Governor Sarah Palin</a>. Touting her <a href="http://gothamist.com/2008/09/01/giuliani_says_palin_is_more_qualifi.php">executive experience</a> and "realness" (a child with Down syndrome, a son in the Army, a <a href="http://gothamist.com/2008/09/01/vp_candidate_sarah_palin_says_daugh.php">pregnant teenage daughter</a>), the McCain campaign enjoyed a surge, especially with her <a href="http://gothamist.com/2008/09/04/mccain_officially_nominated_but_pal.php">charismatic speech</a> at the Republican National Convention. But after a series of <a href="http://gothamist.com/2008/09/12/palins_big_interview_not_great_not.php">awkward interviews</a> (giving Katie Couric <a href="http://gothamist.com/2008/10/01/time_to_cringe_palin_on_supreme_cou.php">some new respect</a>), Saturday Night Live unleashed its bespectacled brunetteâformer cast member/head writer Tina Fey, using a <a href="http://gothamist.com/2008/10/17/tina_fey_on_the_sarah_palins_crazy.php">crazy voice</a>âto <a href="http://gothamist.com/2008/09/14/snl_is_back.php">spoof</a> <a href="http://gothamist.com/2008/09/28/snl_4.php">the candidate</a> <a href="http://gothamist.com/2008/11/02/mccain_never_a_loser_when_it_comes.php">repeatedly</a> and putting the "I can see Russia from my house" line into the history books. But Palin got to laugh as well, by <a href="http://gothamist.com/2008/10/19/pregnant_poehler_poaches_palins_par.php">appearing as herself</a> on the show.
<b>Seven Years Later</b>, September 11: This year's remembrance of the World Trade Center attacks was a <a href="http://gothamist.com/2008/09/11/city_remembers_september_11.php">little more melancholy</a>, because it was the last year mourners could venture into the "pit" before construction takes place at Ground Zero. The two presidential candidates also <a href="http://gothamist.com/2008/09/11/mccain_and_obama_appear_together_fo.php">visited Ground Zero</a> together and paid their respects. Beyond the memories, development progressed, though Mayor Bloomberg thought it was <a href="http://gothamist.com/2008/09/10/bloomberg_wants_action_at_ground_ze.php">happening too slowly</a>. The Port Authority announced the WTC Memorial would be opened in time for the 10th anniversary... but then it would be <a href="http://gothamist.com/2008/10/07/wtc_memorial_may_open_for_91110_but.php">closed for more work</a>
<b>Lehman Brothers Files for Bankruptcy</b>, September 15: The economy started to falter well before September, as <a href="http://gothamist.com/2008/08/04/nyc_foreclosures_up_67.php">foreclosures increased</a> and venerable firms like Bear Stearns were <a href="http://gothamist.com/2008/03/16/jp_morgan_chase_2.php">being bought out</a> or, in Fannie Mae & Freddie Mac's case, being <a href="http://gothamist.com/2008/09/06/government_expected_to_take_over_fa.php">shored up by the feds</a>. But in mid-September, Lehman Brothers <a href="http://gothamist.com/2008/09/15/panic_on_wall_street_lehman_files_f.php">filed for bankruptcy</a> and the woes of the financial industry started to show through. The government threw together a <a href="http://gothamist.com/2008/10/04/bush_signs_bailout_bill_into_law.php">$700 billion bailout plan</a> and the <a href="http://gothamist.com/2008/11/20/dow_falls_444_points_sp_500_hits_lo.php">stock market</a> <a href="http://gothamist.com/2008/12/01/dow_falls_almost_700_points.php">fell on</a> <a href="http://gothamist.com/2008/12/12/world_markets_plummet_with_auto_bai.php">the almost constant panic</a>. Unemployment figures went up as lay-offs continued and concerns about the state's and city's revenue grew with Wall Street's demise. The credit crisis has also put an <a href="http://gothamist.com/2008/12/27/nycs_building_boom_is_over.php">end to the building boom</a> in NYC. For the year, the Dow closed down 33.8%, which the Wall Street Journal says is "its worst annual performance since 1931, when the Great Depression was in full swing."
<b>Thanks for the Memories</b>, September 22, September 29: The final games were played at <a href="http://gothamist.com/2008/09/22/yankees_pregame.php">Yankee Stadium</a> and <a href="http://gothamist.com/2008/09/29/beloved_mets_return_for_shea_stadiu.php">Shea Stadium</a>, as the teams got ready for new eras. However, the moves were not with controversyâthe Yankees for demanding <a href="http://gothamist.com/2008/12/14/making_the_call_the_mets_and_yankee.php">more tax-free bonds for the stadium's construction</a> as it shops for more high-priced talent and the Mets to allowing the new stadium <a href="http://gothamist.com/2008/11/26/si_pols_say_citfield_should_be_citi.php">to be named Citi Field</a> as the government bails out Citibank.
<b>Four More Years</b>, October 2: While rumors about a possible third term run started as <a href="http://gothamist.com/2008/04/14/rumors_of_a_thi.php">early as April</a>, it wasn't until October 2 that Mayor Bloomberg <a href="http://gothamist.com/2008/10/02/mayor_bloomberg_makes_his_third_ter.php">announced his desire</a> to govern the city of New York for a third term. The only problem? Term limits. With the endorsement of another billionaire, the effort <a href="http://gothamist.com/2008/10/09/billionaires_waltz_around_term_limi.php">gained momentum</a> when Bloomberg ally City Council Speaker Christine Quinn helped rally support and managed to <a href="http://gothamist.com/2008/10/23/city_council_votes_to.php">overturn term limits through the Council</a>, pleasing the Mayor and frustrating those who think the matter should have been settled by voters, since term limits were voter referendums in the 1990s. But to the critics, the Mayor essentially says, "Then don't vote for me."
<b>Change Has Come to America</b>, November 4: The eagerly anticipated 2008 electionâcomplete with <a href="http://gothamist.com/2008/11/04/finally_election_day_2008_today.php">long lines at voting districts</a>â brought a historic win, with the first African-American <a href='http://gothamist.com/2008/11/04/waiting_for_our_44th_president.php"'>elected as the 44th president</a>. Celebrations <a href="http://gothamist.com/2008/11/05/celebrating_obamas_win_all_over_the.php">occurred all over the city</a> and there was even a <a href="http://gothamist.com/2008/11/05/barack_obamas_presidential_win_cove.php">run on newspapers</a>.
<b>Fare Fear</b>, November 20: With record ridership and a growing budget deficit, the MTA announced that its 2009 budget would include <a href="http://gothamist.com/2008/11/20/transit_cuts_are_as_severe_as_expec.php">severe service cuts and fare hikes</a>. A state panel suggested tolls and taxes <a href="http://gothamist.com/2008/12/05/ravitch_commission_report.php">to help shore up MTA finances</a> as talks of a $3 subway/bus fare and <a href="http://gothamist.com/2008/12/10/fear_of_the_100_metrocard.php">$100 monthly Metrocard grew</a>. Outrage over the budget <a href="http://gothamist.com/2008/12/18/mta_passes_doomsday_budget_almost_g.php">provoked a near shoe-ing</a>. Expect worries and tensions and anger to be part of the <a href="http://gothamist.com/2008/12/22/hello_3_subway_ride.php">public meetings about the fare hikes and service cuts</a> next year.
<b>The Shot Heard Around NYC</b>, November 29: Fame, fortune, and a Super Bowl ring apparently meant that Giants star wide receiver Plaxico Burress needed to carry a gun. Unfortunately, it also meant he <a href="http://gothamist.com/2008/11/29/reports_plaxico_burress_shot_himsel.php">shot himself</a> in the thigh while fumbling with the gunâwhich had <a href="http://gothamist.com/2008/11/30/everyone_agrees_plax_is_in_an_idiot.php">slipped down his track pants</a>âwhile at a Manhattan nightclub. He turned himself into the NYPD, since his <a href="http://gothamist.com/2008/12/01/plaxico_burress_turns_himself_in.php">gun was unlicensed</a>. Mayor Bloomberg <a href="http://gothamist.com/2008/12/01/mayor_bloomberg_not_a_fan_of_plaxic.php">criticized Burress</a>, the Giants and the hospital that treated him (the hospital didn't contact the police as it should have). Burress was suspended from the Giants and could face mandatory prison time of 3+ years if convicted.
<b>The $50 Billion Con Man</b>, December 11: The investing community, already reeling from the economic downturn, was rocked when respected investor Bernard Madoff, a former chairman of Nasdaq, admitted that his investment firm was a sham and that he had actually been running, in his estimation, a <a href="http://gothamist.com/2008/12/12/financial_advisors_50_billion_ponzi.php">$50 billion Ponzi scheme</a>. Hedge funds with investments of billions to moms and pops who had hundreds of thousands in Madoff's firm <a href="http://gothamist.com/2008/12/13/madoffs_billions_in_fraud_casts_a_w.php">were hit</a>, as were notable charities, educational institutions, and celebrities. The <a href="http://gothamist.com/2008/12/14/madoffs_victims_range_from_big_firm.php">victims' list</a> keeps growing; one investor, who had $1.4 billion of clients' money invested, <a href="http://gothamist.com/2008/12/23/report_big_madoff_investor_commits.php">killed himself</a>. Madoff, <a href='http://gothamist.com/2008/12/17/anklemonitoring_bracelet_for_madoff.php"'>under house arrest</a>, <a href="http://gothamist.com/2008/12/27/madoff_must_disclose_assets.php">must disclose his assets</a>. Other fallout: The SEC, which was warned about Madoff, faces criticism as do hedge funds that apparently don't do any due diligence yet collect hefty fees. It was a year-end scandal that seemed to capture all insanity of the market bubble.
<p>We hope you have a Happy New Year.</p>