I keep wondering why republicans are impressed with wealthy people stealing from other. Why they think it is good to give money to bankers & bad to give money to regular people.

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Ok so you might find the next few links interesting. These are from around the web, just random snippets that I’ve picked up in my reading, but I found some very cool information in them. You might too. Here goes…

Bernard Madoff’s jacket, watch auctioned in NYC – Business …

Two pairs of Ruth Madoff's diamond dangle earrings sold for $70000 each, against a pre-sale estimate of no more than $9800 and $21400. But the most highly prized item in the sale, one of Bernard Madoff's 17 Rolex watches, fetched only $65000 … against an estimate of $100 to $150. There was little of great artistic value in the Madoff homes, Mason said. "They weren't interested in great art," he said. The auction house charged no premiums but was paid an undisclosed fee . …

Bernard Madoff’s jacket, watch auctioned in NYC – GloucesterTimes …

Two pairs of Ruth Madoff's diamond dangle earrings sold for $70000 each, against a pre-sale estimate of no more than $9800 and $21400. But the most highly prized item in the sale, Bernard Madoff's Rolex watch, fetched only $65000, … There was little of great artistic value in the Madoff homes, Mason said. "They weren't interested in great art," he said. The auction house charged no premiums. Buyers, some of whom bid by phone from all over the world, were not identified. …

Bernard Madoff’s jacket, watch auctioned in NYC (AP) | Investor …

Bernard and Ruth Madoff's belongings fetched several times their estimated values at auction Saturday for a total of about $1 million, twice as much as the auctioneers had hoped for. … There was little of great artistic value in the Madoff homes, Mason said. “They weren't interested in great art,” he said. The auction house charged no premiums but was paid an undisclosed fee. Buyers, some of whom bid by phone from all over the world, were not identified. …

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Here is Madoff’s strategy:
1. He enticed charities, which are organizations, who would be less hostile if he were exposed, unlike individual investors who lost their all in all, who would be outraged to violence. To fortify his concealed fraud and theft, he got into the directorate of the particular charity, or one of his family did, so that if anything was brought up, he'd get ear of it and either silence it or cover it up specially.
2. He screened CAREFULLY every individual investor-to-be, for several purposes: (when I mean “SCREENING CAREFULLY” for these purpose he did extensive, and in depth checks of credit, family members and family backgrounds, court litigation records and even surveillances of activities of persons who wanted to invest with him, before accepting or rejecting their requests to invest. The purpose:
a. To create the appearance of exclusivity and class, so that whatever invester was accepted, would be grateful and less likely to look deep down and question what was going on.
b. To investigate the specific investor –
b. The reason he hired investigators to go into every detail of the potential investor's business activity, credit background, marital involvements etc and if there were indications of tax fraud or divorce fraud, he'd take them in as investors to see if his financial activities were such that the money he was giving to Madoff was concealed tax fraud, or illegally obtained unreported income that plenty of monied people have, and who seek places where the monies can remain concealed in a larger fund composed of many investors. In applications to invest, Madoff asked where the funds the potential investor wanted to turn over to Madoff were situated at the time of the request, Madoff knew that if the fraud ever was found out, these investors with shady assets that the IRS would immediately check into if their names were brought up in any claims against Madoff, that these people would just go away and take their loss rather than face criminal or civil charges by the IRS or federal prosecutors. So Madoff rejected investors who had clean backgrounds but for those with questionable sources or sites of present wealth, he had a ready made gag over the mouths of many, many individual investors who he ripped off, knowing they would never open their mouths to regulators if his schemes were exposed.
crooks never get away with it. sooner or later their guise cracks, usually from a disgruntled insider who blows a whistle. Madoff knew the scheme was about to fall apart so he had his sons pretend to be whistle blowers so they wouldnt be charged with crimes and go down with him (fatherly love)
1 day ago

the support will show when the lists of claims doesnt match the amount missing. Then regulators will have to go into the day by day activity that can unearth to provide you with your demand for proof. Just be patient,. Only the tip of the iceberg is seen now

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Do you think Bernie Madoff will serve his 150 year sentence in a Country Club Prison?

http://www.blackvoices.com/workandmoneya…

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He ran a Ponzi(or Pyramid)Scheme.

In other words,the earlier you became a client of his,the beet,because,as each new investor signed on,and invested money with him,he would distibute that money to the investors who had already signed on,until,eventually,he ran out of new investors,and therefore,money,to keep funneling up the pipeline.

He never invested any money buying actual stock.It all went into the scheme.

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Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…

Madoff trustee and law firm submit US$22.1M bill

Bernard Madoff's bankruptcy trustee and the law firm employing him have asked a US judge to be awarded. … Updated 1:50 PM ET. Amazon Kindle. On financialpost.com. Buy and Sell · FP HR · Smart Shift · Breakingviews · Entrepreneur …

Madoff’s Debts Still Snowballing – Enter the Legal Fees

According to Reuters, today, "Bernard Madoff's bankruptcy trustee and the law firm employing him submitted a $22.1 million legal bill covering five months of work." Baker & Hostetler LLP wants $21.28 million, and court-appointed trustee …

Tzvee’s Talmudic Blog: Merkin, Madoff and Dwek make Forward Top 50 …

Investors in his funds claimed to have had no idea that Merkin, 55, had entrusted $2.4 billion of their money to Bernard Madoff. This year, New York Attorney General Andrew Cuomo, New York University and New York Law School are among …

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

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Hello,

Better than most of us as well as he husband's victims. They are leaving her a few million but were I the jude she'd be living in an old basement apartment eating cold dog food now.

Cheers,

Michael Kelly

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What's worse for the Jews, Madoff or Tay-Sachs disease?

Madoff's greed-infested mind has infested the entire Jewish world, causing anti-semetism to proliferate more than the flu virus. Only there is no vaccination remedy for that greed. Us Jews must live with it and its sequelae. God have mercy. Today is yom kippur.

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Ok so you might find the next few links interesting. These are from around the web, just random snippets that I’ve picked up in my reading, but I found some very cool information in them. You might too. Here goes…

Madoff trustee and law firm submit US$22.1M bill

Bernard Madoff's bankruptcy trustee and the law firm employing him have asked a US judge to be awarded. … 15, 2008 to April 30, 2009 period, comprising more than 38270 hours of work. Mr. Picard is separately seeking US$835605 of fees for the May 1 to Sept. 30 period for acting as trustee for the Securities Investor Protection Corp, the federally chartered agency that supervises brokerage liquidations. He was previously awarded US$759229 for the 4-1/2 months ended April …

Madoff Fee Watch – Bankruptcy Beat – WSJ

Irving Picard, the lawyer winding down Bernard Madoff's investment firm, has charged the firm's bankruptcy estate about $1.6 billion since he took the job. … Bankruptcy Beat. An inside look at companies in trouble from Daily Bankruptcy Review. The Daily Docket: Reliance Offers To Buy Lyondell. November 23, 2009, 1:34 PM ET …

N.J. computer programmer who worked for Bernard Madoff is arrested …

NJ computer programmer who worked for Bernard Madoff is arrested by FBI Evans Java blogging site. I use this site to write about Evans, Java and other technology related issues. If you name is Evans and would like to post here, let us know. … two former computer programmers for Bernard Madoff's investment firm on charges they helped cover up his massive fraud for more than 15 years. Thanks for information. Posted by flash speicher on November 14, 2009 at 06:26 AM GMT # …

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

Have a great day!

Arthur Levitt, Jr. was the longest serving head of the SEC. Do a Google search on him, see what pops up.

He was appointed by Clinton in 1993 and again in 1998. He left in 2001, so he covered the entire Clinton administration.

Levitt gave Madoff a free pass because they were both members of the Harmonie Club, a social club for the ultra wealthy in NYC.

Madoff was first reported to the SEC in 1992:
http://www.guardian.co.uk/business/2009/…
Report: Regulator was tipped off about Madoff fraud as early as 1992
“a suspicion of trouble at Madoff Investment Securities arose as early as 1992 when customers of Avellino & Bienes, a fund that invested all its money with Madoff, complained about documents making a seemingly impossible promise of “100%” safe investments. Although the SEC shut down Avellino & Bienes, the agency only made a “brief and very limited” examination of Madoff.”

Avellino & Bienes was shut down by the SEC in 1993, the year Levitt took charge.

Levitt also gave a special exemption to Enron, exempting it from accounting rules. This special exemption led directly to the Enron scam and the subsequent meltdown of the company, which took down a major chunk of the economy with it. It also led to the discovery of similar fraud at many other companies, fraud that got its start in the Clinton years.

BTW, this fraud was busted on Bush's watch. So if Bush was buddies with Kenny Boy, he wasn't a very good friend. Not as good as Levitt and Madoff.

If I was going to pick one individual who was most responsible for the rampant fraud of the Clinton years, it would have to be Art Levitt.

BTW, did I mention that Clinton appointed him TWICE? That's unprecedented. Most SEC chairs had a tenure of two or three years. The second longest was five years for Manuel Cohen under JFK.

Levitt stayed as the chair for Clinton's ENTIRE EIGHT YEARS.

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What exactly did Madoff do, which put him in jail?

He swindled people out of billions of dollars. He convinced them that they could get a 15% return on their investment from the stock market but all he really did was run a Ponzi Scheme.

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People are spending millions on nothing, who is the money going too?

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As Bernard Madoff today, do you think that ancient Jewish religious think tank put the believers to any good?

I mean with the Scriptures, sacrifices, promises and other stuffs, wherever they where.

It seems to be true that sometimes the worse enemy of the Jews, is, was a Jew.

Just as with Madoff they should refrain from believing myths and magical numbers.

2 Programmers Are Charged With Aiding Madoff – DealBook Blog …

Authorities on Friday accused two computer programmers for their role in helping the convicted money manager Bernard L. Madoff cover up the Ponzi scheme at Bernard L. Madoff Investment Securities for more than 15 years. … Documents filed by prosecutors and regulators on Friday suggested that the two men reached some sort of turning point in their role in the Madoff operation in April 2006, when they attempted to delete almost all the special programs they had created …

Pair of computer programmers charged with helping Bernard Madoff …

NEW YORK — Two former employees for Bernard Madoff programmed an old IBM computer to generate false records that concealed the crooked financier's massive Ponzi scheme and were given hush money when they threatened to stop lying, … In what the SEC called "a crisis of conscience" in 2006, O'Hara and Perez deleted 218 of the 225 special programs from the House 17 computer, and withdrew thousands of dollars from their own accounts with the firm, authorities said. …

Jerome O’Hara and George Perez: Madoff Computer Programmers …

Jerome O'Hara and George Perez, former employees of Bernard Madoff have been accused by the federal government of aiding Madoff in scamming thousands out of billions of dollars. The former Madoff computer programmers, charged with … When the pair went to Madoff in 2006 and threatened to go to the authorities with details of the scam they were both paid $60000 and given 25% raises in exchange for their continued silence. The video below explains the fraud and how Madoff …

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

Have a great day!

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