Posted on 12/01/2016 12:54:44 AM PST by Freedom of Speech Wins
It reads like a who's who of liberal Democrats: Clinton, Corzine, Dodd, Schumer, Kerry, Markey, Rangel, Bradley, Lautenberg ... and yes, even Obama.
And what they all have in common is Bernard Madoff and his company of lies.
In fact, the disgraced one-time Nasdaq boss and founder of an investment firm that authorities say brokered one of the biggest Ponzi schemes in Wall Street history also liberally sprinkled a portion of his allegedly ill-gotten billions to help further the political fortunes of his favorite candidates and their campaigns -- it appears to the tune of more than $400,000.
And, a review of campaign contributions at OpenSecrets.org shows that from 2005-2008, Madoff pumped well over $100,000 into the Democratic Senatorial Campaign Committee, a political action committee guided by Senate Majority Leader Harry Reid and Sens. Chuck Schumer of New York, Bob Menendez of New Jersey and Amy Klobuchar of Minnesota.
(Excerpt) Read more at foxnews.com ...
Looks like Clinton/ Bernard Schwartz and Loral model. Finance Democrat politicians while you bankrupt your whole company.
Here they robbed investors though as a business. The model got even more corrupt.
One of the hundreds of #TrudeauEulogies I saw posted the other day, where Canadians were mercilessly mocking their clueless Prime Minister with satirical 1-or-2-line eulogies "inspired" by his fulsome eulogy of Castro, was this one:
"Our sympathies on the passing of Bernie Madoff, he saw opportunity on the faces of every person he met."
LOL!
What I want to know is how the swindled investors got almost every cent back.
It’s usually pennies on the dollar.
Read somewhere they got back 65c on the dollar years later, and were also out the fictitious profits. Great question you ask, How did they get that back and where did that money come from?
was it because they were all very wealthy people to begin with? Because if it was you and me brother we’d be screwed and we get $0.02 on the dollar if we were lucky
“What I want to know is how the swindled investors got almost every cent back.
It’s usually pennies on the dollar.”
Madoff’s accounts were in the tens of Billions. He only needed to steal a tiny percentage to live large. And most of his assets were sold after the trial.
Most of his clients had far more than they could spend. They only cared about seeing the money on paper and rarely pulled it out.
The only reason it was revealed was the panic of 2008. Many people outright pulled out from the stock market nomatter what he showed them on paper. He couldn’t cover it and made it look like his sons turned him in
Was the money making anything?
Also they mostly lost out on a YUGE market rise in the 2000s. That sucks.
But they weren’t involved in the crash since they weren’t invested in the market I assume.
Crazy.
Around 1990 he stopped making any money investing and just pocketed it. Then setup a system of fake back-dated trades and statements. Making up trades to create the illusion of a constant 10%+ return.
They estimated he banked around $500 Million in interest. From checking accounts...
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