[TigerLikesRooster]

Ping!

[org.whodat]

Madoff himself saying—"basically, a giant Ponzi scheme"

Giving the bogus business of AIG, "basically" another "Ponzi Scheme", one could apply this to all that do business there.

[Just mythoughts]

Anyone remember Hillary Clinton’s screech a few years back, to her CT investor class regarding the coming Bush/Hoover economy. What did she know and when did she know it?

[Edit35]

Short of outlawing hedge funds, there isn’t too much the govt. can do to stop this type of swindle.

The thing that attracts people (and capital) to America is the freedom to invest and to prosper.

The desire for big big returns on capital is the reason people just willingly hand over their money to a ‘famous’ hedge fund manager like Bernard Madoff.

Like with everything else, greed is a killer.

[q_an_a]

A story on the web quoted a big investor, on topics about this hedge fund, and the idea of “too consistent” of a return i.e. manipulation of the system - this investor stated, “I thought, and others I knew agreed, that he must have insider information not that he was running a ponzi.” So big money, as in the movie Wall Street, is happy to work with a crook, but don’t let anyone know he is a crook - like regualators and lose our big returns. Ethics are going farther down the toilet and people wonder why “the Average Joe” was happy to see a Sarah Palin - someone who stopped crooks.

[DuncanWaring]

How does this apply to GE in the Jack Welch era, when quarterly earnings, as I recall, clocked in regularly to-the-penny on the forecasts?

[glorgau]

Q: How Can You Spot A Wall Street Crook?

A: He's breathing.

[jimbo123]

MADOFF, BERNARD
NEW YORK,NY 10022 SELF EMPLOYED/INVESTOR 4/24/08 $2,300 Merkley, Jeff (D)
MADOFF, BERNARD
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENTS 3/25/03 $2,000 Wyden, Ron (D)
MADOFF, BERNARD
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENTS 3/25/03 $2,000 Wyden, Ron (D)
MADOFF, BERNARD
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 12/20/99 $2,000 Securities Industry Assn
MADOFF, BERNARD
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 12/20/99 $2,000 Securities Industry Assn
MADOFF, BERNARD
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 11/3/00 $2,000 Securities Industry Assn
MADOFF, BERNARD
NEW YORK,NY 10021 MADOFF SECURITIES 8/24/99 $1,000 Corzine, Jon S (D)
MADOFF, BERNARD
NEW YORK,NY 10022 CHAIRMAN 1/13/00 $1,000 Clinton, Hillary Rodham (D)
MADOFF, BERNARD
NEW YORK,NY 10021 BERNARD MADOFF INC 11/28/95 $1,000 Wyden, Ron (D)
MADOFF, BERNARD
NEW YORK,NY 10022 HOUSEWIFE 6/16/94 $1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD
NEW YORK,NY 10021 5/21/96 $1,000 Ackerman, Gary L (D)
MADOFF, BERNARD
NEW YORK,NY 10022 HOUSEWIFE 6/22/94 $1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD
NEW YORK,NY 10022 MADOFF INVESTMENT 6/22/94 $1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENTS 2/18/04 $1,000 Lautenberg, Frank R (D)
MADOFF, BERNARD
NEW YORK,NY 10021 12/4/95 $500 Dodd, Christopher J (D)
MADOFF, BERNARD
NY,NY 10021 BERNARD MADOFF INVEST SECUR 1/17/96 $500 Oxley, Michael G (R)
MADOFF, BERNARD
NEW YORK,NY 10022 BOND BROKER 8/4/98 $500 Crowley, Joseph (D)
MADOFF, BERNARD
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 3/31/98 $300 Schumer, Charles E (D)
MADOFF, BERNARD
NEW YORK,NY 10021 SELF-EMPLOYED/BANKER 10/15/04 $250 Hooley, Darlene (D)
MADOFF, BERNARD
NEW YORK,NY 10021 MADOFF INVESTMENTS/CHAIRMAN 10/18/04 $250 Matheson, Jim (D)
MADOFF, BERNARD
NEW YORK,NY 10022 8/26/98 $-500 Crowley, Joseph (D)
MADOFF, BERNARD
NEW YORK,NY 10022 6/20/94 $-1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVEST SEC 5/9/05 $25,000 Democratic Senatorial Campaign Cmte (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L. MADOFF INVEST. SEC./CHAI 9/30/06 $25,000 Democratic Senatorial Campaign Cmte (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L. MADOFF INVEST.-SEC./CHAI 5/4/07 $25,000 Democratic Senatorial Campaign Cmte (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L. MADOFF INVEST.-SEC./CHAI 9/12/08 $25,000 Democratic Senatorial Campaign Cmte (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMT SECURITIE 4/11/94 $5,000 Securities Industry Assn
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENT 7/20/07 $2,300 Lautenberg, Frank R (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L. MADOFF INVESTMENT/CHAIRM 7/10/07 $2,300 Saul, Andrew Marshall (R)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF/CHAIRMAN 9/23/03 $2,000 Gephardt, Richard A (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 MADOFF INVESTMENTS/CHAIRMAN 6/17/04 $2,000 Markey, Edward J (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 MADOFF INVESTMENTS/CHAIRMAN 6/17/04 $2,000 Markey, Edward J (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 SECURITIES 6/16/94 $2,000 Fields, Jack M Jr (R)
MADOFF, BERNARD L
WASHINGTON,DC 20005 SECURITIES 12/17/93 $1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD L
NEW YORK,NY 10022 SECURITIES 4/28/95 $1,000 Fields, Jack M Jr (R)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF PC 10/23/98 $1,000 Rangel, Charles B (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD MADOFF INC 3/10/00 $1,000 Obey, David R (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENT SEC 4/20/00 $1,000 Fossella, Vito (R)
MADOFF, BERNARD L
NEW YORK,NY 10021 SELF-EMPLOYED 9/21/98 $1,000 D’Amato, Alfonse M (R)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 5/22/98 $1,000 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 MADOFF INVESTMENTS 5/15/98 $1,000 Markey, Edward J (D)
MADOFF, BERNARD L
NEW YORK,NY 10023 MADOFF SECURITIES 6/29/94 $1,000 Markey, Edward J (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 MADOFF SECURITIES 8/4/96 $1,000 Markey, Edward J (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF CO 9/17/96 $1,000 Frisa, Daniel (R)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF INVEST SECURITIES 11/8/93 $1,000 Dingell, John D (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT 5/5/98 $1,000 Tauzin, W J “Billy” (R)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVESTMENT SECURIT 10/30/98 $1,000 Victory in New York
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVESTMENTS 8/18/04 $1,000 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVESTMENTS 8/18/04 $1,000 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVESTMENTS 4/8/02 $1,000 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD L MADOFF INVESTMENTS 4/8/02 $1,000 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L. MADOFF P.C./CHAIRMAN 8/30/01 $1,000 Rangel, Charles B (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 BERNARD L MADOFF INVESTMENT SECURIT 5/22/98 $700 Schumer, Charles E (D)
MADOFF, BERNARD L
NEW YORK,NY 10022 SECURITIES INVESTMENTS 5/18/93 $400 Gillmor, Paul E (R)
MADOFF, BERNARD L
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENT 7/20/07 $300 Lautenberg, Frank R (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 10/15/04 $250 Frost, Martin (D)
MADOFF, BERNARD L
NEW YORK,NY 10/13/94 $200 Ackerman, Gary (D)
MADOFF, BERNARD L
NEW YORK,NY 10021 12/5/07 $-2,300 Saul, Andrew Marshall (R)
MADOFF, BERNARD L MR
NEW YORK,NY 10021 BERNARD L. MADOFF INVESTMENT SECURI 5/24/07 $5,000 Securities Industry & Financial Mkt Assn
MADOFF, BERNARD L MR
NEW YORK,NY 10021 BERNARD L. MADOFF INVESTMENT SECURI 8/20/08 $5,000 Securities Industry & Financial Mkt Assn
MADOFF, BERNARD L MR
NEW YORK,NY 10021 MADOFF (BERNARD L.) INVESTMENT SECU 7/8/04 $5,000 Securities Industry Assn
MADOFF, BERNARD L MR
NEW YORK,NY 10021 BERNARD L. MADOFF INVESTMENT SECURI 10/17/06 $5,000 Securities Industry Assn
MADOFF, BERNARD L MR
NEW YORK,NY 10021 BERNARD L. MADOFF INVESTMENT SECURI 9/22/05 $5,000 Securities Industry Assn
MADOFF, BERNARD MR
NEW YORK,NY 10021 BERNARD MADOFF INVESTMENT SECURITIE 4/26/99 $1,000 Bradley, Bill (D)

[GovernmentShrinker]

The surprises will trickle out, as we hear which HNW individuals, endowments, and hedge funds are directly and INdirectly wiped out by this. I don’t think it’s a coincidence that Citadel froze redemptions the day after the Madoff fraud was revealed. A lot of hedge funds, capital call funds (and there’s at least a bit of overlap between those two categories these days), counterparty lenders, private banks, etc. are only just beginning to figure out how big their indirect hits are. There’s going to be an extensive and very branched domino run emanating from Madoff.

The only good news here is that a sizeable collection of useless “socialites” and “jetsetters” are going to be taken off the map — the ones who were so busy spending money amusing themselves that they never bothered to ask the family office where all the investment income was coming from, and are now learning it was virtually all from the Madoff scheme. And same for a sizeable collection of scumbags who invested with Madoff because they were sure he was getting his steady, strong returns by cheating (by front-running his market-making business).

[GOPJ]

The question that everybody with big chunks of money parked with exclusive fund managers on Wall Street will be asking today is whether there are other possible Bernard Madoffs out there: high-profile managers who've been lying about their returns for years. The answer to this is going to be "yes,"

LOL - lots of people in Palm Beach will be crying to their butlers tonight...