‘World’s Biggest Swindle’: Ex-NASDAQ Head Arrested In $50B ‘Giant Ponzi Scheme’

Times Online: Some of America’s wealthiest socialites were facing ruin after the arrest of a Wall Street big hitter.

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December 12, 2008 at 7:05 pm - AP
Dateline: New York, NY
revhatchell   December 12th, 2008 - 7:44 pm

bwaaaahahahahaaaaaaaaa

rich on rich crime!

[...] original here:  Ex-NASDAQ Head Arrested In $50B ‘Giant Ponzi Scheme’ Filed Under: Latest News VideoTagged: pcu [...]

European-American   December 12th, 2008 - 9:35 pm

god bless america… where else could this occur?

Enzo   December 12th, 2008 - 11:32 pm

No jail time for this guy… KILL HIM!

Kenny C   December 12th, 2008 - 11:36 pm

Let’s see here….we can’t blame Bush…He’s leaving….Hey I got it…Let’s blame Barney….yes dear friends in the Hampton’s and you Blue Hairs down in Fla….It’s all because of Barney…Mr. Bush….you know…. that guy you bashed and claim was stupid….He told Barney the cards were falling 4 years ago…..Did Barney do anything….Nooooooo…..Now ole Madoff got pulled under….Making Ponzi wonzie look like a pauper….he he he….. You dumb azz people in the Northeast have been putting these lib clowns in office for so long if defies common sense….guess the ole saying a fool and his money are soon parted….the only thing left is to write George and tell him you’re sorry and then go call on Barney…Might have some of your money stashed away.

lazurm   December 12th, 2008 - 11:44 pm

Now you all know why they are called “Brokers”.
In some countries a crime of this magnitude and type would be a capital crime, another reason for (in this case) capital punishment. After all, it was about other people’s capital, eh?

Kenny C   December 13th, 2008 - 12:09 am

They used to call this the Ponzi Scheme after Charles Ponzi…..Ole Madoff ran rings around him.
So let’s be up to speed here and now proclaim it to be in honor of ole Madoff (he’s got to be down in the dumps)……The Madoff Scheme.he he he…I love it when Liberals take over….It’s going to be a fun filled four years.
My wife wastes her time watching that crap on TV….I keep telling her what she’s missing here in real life
How in the hell can writers write anything anymore with all this good sheit happening right here in front of us….well I’m going to go make some pop corn and get a drink and then come back here and watch life unfold..he he he

Dave, Tn   December 13th, 2008 - 12:33 am

Check out who the guy gave money to.

http://www.newsmeat.com/fec/bystate_detail.php?st=NY&last=Madoff&first=Bernard

Hopefully he was playing around with the money of other rich democrats.

Alex   December 13th, 2008 - 1:19 am

Oh well… I guess some of these arrogant high-brows will have to go back to work at a local McDonalds. That is, if they know how to work in the first place!

The lessons of unbridled greed are rarely learned by the well-to-do. They look down on many of us ordinary folks who actually have to accomplish something to feed our families.

One line from the movie Wall Street that is appropriate: “Having money and lost it, is much worse than never having it at all”.

Greed. Will they ever learn?

Bill   December 13th, 2008 - 5:21 am

Look, anybody with any brains that looked at this guys hedge fund performance for the last ten years knew something stunk. There were suggestions he was laundering money for drug bosses or something, because he was always delivering double-digit returns every year. He did this even in times when a 5% return looked good. This is a story not just of his greed, but that of his investors, including institutions that should have known better.

I guess the Democrats in Congress, some of whom have money invested with this guy, will be pressing for a bail-out by Monday to save their rich liberal contributors.

Jimbo   December 13th, 2008 - 7:09 am

Another right wing wacko neocon ripping off the Americans as usual. And this is news??

Bill   December 13th, 2008 - 7:51 am

Uh, wrong as usual Jimbo. He is a Left-Wing Democratic whacko.
Look at the bail-out of the UAW. They rip off America too.

The Final Solution   December 13th, 2008 - 8:28 am

He is a jew doing what they do best!!!

The Final Solution   December 13th, 2008 - 8:38 am

The administrators, whom we shall choose from among the public, with strict regard to their capacities for servile obedience, will not be persons trained in the arts of government, and will therefore easily become pawns in our game in the hands of men of learning and genius who will be their advisers, specialists bred and reared from early childhood to rule the affairs of the whole world. As is well known to you, these specialists of ours have been drawing to fit them for rule the information they need from our political plans from the lessons of history, from observations made of the events of every moment as it passes. The GOYIM are not guided by practical use of unprejudiced historical observation, but by theoretical routine without any critical regard for consequent results. We need not, therefore, take any account of them – let them amuse themselves until the hour strikes, or live on hopes of new forms of enterprising pastime, or on the memories of all they have enjoyed. For them let that play the principal part which we have persuaded them to accept as the dictates of science (theory). It is with this object in view that we are constantly, by means of our press, arousing a blind confidence in these theories. The intellectuals of the GOYIM will puff themselves up with their knowledge and without any logical verification of them will put into effect all the information available from science, which our AGENTUR specialists have cunningly pieced together for the purpose of educating their minds in the direction we want.

DESTRUCTIVE EDUCATION

3. Do not suppose for a moment that these statements are empty words: think carefully of the successes we arranged for Darwinism, Marxism, Nietzsche-ism. To us Jews, at any rate, it should be plain to see what a disintegrating importance these directives have had upon the minds of the GOYIM.

4. It is indispensable for us to take account of the thoughts, characters, tendencies of the nations in order to avoid making slips in the political and in the direction of administrative affairs. The triumph of our system of which the component parts of the machinery may be variously disposed according to the temperament of the peoples met on our way, will fail of success if the practical application of it be not based upon a summing up of the lessons of the past in the light of the present.

5. In the hands of the States of to-day there is a great force that creates the movement of thought in the people, and that is the Press. The part played by the Press is to keep pointing our requirements supposed to be indispensable, to give voice to the complaints of the people, to express and to create discontent. It is in the Press that the triumph of freedom of speech finds its incarnation. But the GOYIM States have not known how to make use of this force; and it has fallen into our hands. Through the Press we have gained the power to influence while remaining ourselves in the shade; thanks to the Press we have got the GOLD in our hands, notwithstanding that we have had to gather it out of the oceans of blood and tears. But it has paid us, though we have sacrificed many of our people. Each victim on our side is worth in the sight of God a thousand GOYIM.

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To LAZARUM   December 13th, 2008 - 3:12 pm

Lazarum said, “Now you all know why they are called “Brokers”.
In some countries a crime of this magnitude and type would be a capital crime, another reason for (in this case) capital punishment. After all, it was about other people’s capital, eh?”

HAHAHAHA.
LOL! YOU ARE GOOD! TEE-HEEEEEE.
:-)

But seriously, WHAT THE HELL IS GOING ON IN THIS COUNTRY, ANYWAY????????????

WHERE IS ALL THE MONEY *GOING*????

Kenny C   December 13th, 2008 - 3:17 pm

To LAZARUM…good question…..here’s another…where’s the money coming from…2 new cars in the driveway….every kid on a cell phone…restaurants full(I swear women don’t cook anymore)…malls packed…are they printing it?

To THE FINAL SOLUTION   December 13th, 2008 - 3:25 pm

Final Solution wrote (quoted): “The part played by the Press is to keep pointing our requirements supposed to be indispensable, to give voice to the complaints of the people, to express and to create discontent. It is in the Press that the triumph of freedom of speech finds its incarnation. But the GOYIM States have not known how to make use of this force; and it has fallen into our hands. Through the Press we have gained the power to influence while remaining ourselves in the shade; thanks to the Press we have got the GOLD in our hands, notwithstanding that we have had to gather it out of the oceans of blood and tears. But it has paid us, though we have sacrificed many of our people. Each victim on our side is worth in the sight of God a thousand GOYIM.”

Could you please include a citation or reference so we can know what you are quoting from? Thank you.

The Final Solutiont   December 13th, 2008 - 4:12 pm

Revelations

“The Jewish people as a whole will be its own Messiah. It will attain world domination by the dissolution of other races…and by the establishment of a world republic in which everywhere the Jews will exercise the privilege of citizenship. In this New World Order the Children of Israel…will furnish all the leaders without encountering opposition…” (Karl Marx in a letter to Baruch Levy, quoted in Review de Paris, June 1, 1928, p. 574)

The Final Solution   December 13th, 2008 - 4:29 pm

politicians who, in case of disobedience to our instructions, must face criminal charges or disappear. We shall arrange elections in favor of candidates with some dark, undiscovered stain in their past. They will be our trustworthy agents out of fear of revelations”

The shift from Stage One (liberalism and freedom) to Stage Two (tyranny) took place in our lifetime. If in 1968 the NY Times promoted the Freedom Riders, in 2002 it supports Patriot Act. An important American lawyer, Alan Dershovitz of Harvard made a U-turn from Human rights to Right to torture.

“The aristocracy enjoyed the labour of the workers, and it was interested in seeing that the workers were well fed, healthy, and strong. The people have annihilated the aristocracy, and have fallen into the grips of merciless money-grinding scoundrels”.
In less emotional terms, the new bourgeoisie removed the old elites with support of people, while promising freedom and objecting to their privilege. After its victory, it took the privilege to itself, and turned out to be as bad (or worse) as the feudal lord. Marx referred to this complaint of aristocracy in one of the numerous additions to the Communist Manifesto, and considered it futile if partly justified. However, he did not live to witness a similar process which took place in the last days of the Soviet Union. The rising new bourgeoisie took control over the discourse, convinced people to fight the privilege of Nomenclature for the sake of equality and freedom, and after their victory, it assumed and multiplied the privilege, and rejected equality and freedom.

The Final Solution   December 13th, 2008 - 4:38 pm

David Ben Gurion, the first ruler of the Jewish state, coined an equally arrogant maxim: “Who cares what Goyim say? What matters is what the Jews do!”

The Final Solution   December 13th, 2008 - 4:39 pm

“Each Jewish victim is worth in the sight of God a thousand goyim”.
This line, a pinnacle of arrogance, is not a vain invention of an anti-Semite. Two ministers of Sharon’s government, Uri Landau and Ivet Lieberman demanded to kill one thousand Palestinian goyim for each Jewish victim. A Jewish extremist at a demo for the Jewish Temple Mount (18.11.02) called each Jew to kill one thousand Palestinian goyim

Rodney Rooster   December 13th, 2008 - 5:20 pm

WHY can’t we all get along??!?

GlobalObserver   December 13th, 2008 - 8:58 pm

This poor guy has suffered enough knowing he has ruined hundreds of lives.

He is 70, so let him live the rest of his life in peace.

Forgiveness please!

The Final Solution   December 14th, 2008 - 8:38 am

During golf-course and cocktail-party banter, Mr. Madoff’s name frequently surfaced as a money manager who could consistently deliver high returns. Older, Jewish investors called Mr. Madoff ” ‘the Jewish bond,’ ” says Ken Phillips, head of a Boulder, Colo., investment firm. “It paid 8% to 12%, every year, no matter what.”

Harry   December 14th, 2008 - 4:11 pm

There’s an old saying…

“If it’s too good to be true, it probably is.”

Duncan   December 14th, 2008 - 5:46 pm

Amazing how many rich investors got swindled, They made a bad business choice. NO bailout for them.
You got taken deal with it!
Another EXPOIT OY VEY!
YOU ARE YOUR OWN WORST ENEMY

SANTANDER   December 14th, 2008 - 6:26 pm

Santander is going donw with over $3B.

go down Santander and go to hell.

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