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Madoff investors hope for bailout (More bailouts?????)
Google ^ | 12/18/2008 | JOE BEL BRUNO

Posted on 12/18/2008 6:45:21 PM PST by Red in Blue PA

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To: Red in Blue PA
Fraud isn’t really fraud when the writing is on the wall, as it was on this case.??

The SIPC was put in place to protect investors from "registered brokerages" that go bankrupt regardless of reason.

41 posted on 12/18/2008 7:40:30 PM PST by databoss
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To: Red in Blue PA

Stop the madness.


42 posted on 12/18/2008 8:00:30 PM PST by popdonnelly (Don't lose sight of your conservative principles.)
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To: Red in Blue PA

Just my opinion, but I think that a bunch of CEOs caught stealing and convicted of such should start get executed, publicly. It would clean things up in the financial business pretty quick.


43 posted on 12/18/2008 8:07:06 PM PST by formerliberal_nowconservative
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To: Red in Blue PA

You have to be kidding me! LOL!


44 posted on 12/18/2008 8:11:59 PM PST by divine_moment_of_facts
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To: Red in Blue PA
He was averaging over 12%. That means the investors with Madoff were doubling their money every 6 years. Some of those people make out very well.

Maybe the ones who were with him for 20 years should pay some of the people who didn't make any money. I wonder if he paid everyone 12% a year or if there were some he stole from more...

45 posted on 12/18/2008 8:13:06 PM PST by GOPJ (Gun Control-:- like trying to control stray dogs by neutering veterinarians.- G. Jonas)
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To: Red in Blue PA

My lunch was sub-par.

I need a bailout.


46 posted on 12/18/2008 8:23:41 PM PST by Uncle Miltie (Women were treated like livestock by Mohammad, so Allah must want women treated like cows forever.)
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To: Red in Blue PA

Do Nigerian email scam victims have Congressional hearings scheduled?


47 posted on 12/18/2008 8:26:27 PM PST by Trailerpark Badass (Happiness is a choice!)
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To: Red in Blue PA
You know I was just thinking - Sarah's govt. gives out dividend. Now there's proper management. Why can't any of the guys do that.
48 posted on 12/18/2008 8:37:17 PM PST by Lady Jag (DONATE NOW at https://secure.freerepublic.com/donate)
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To: Uncle Miltie
My lunch was sub-par.
I need a bailout.

Please, don't post a picture of that :-)

49 posted on 12/18/2008 8:39:47 PM PST by Mr_Moonlight
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To: 2banana

I’ve read rates as high as 22%.

Yeah. Sure. No risk here.

Special method. Secret. My arse. Like any, any, at all, method that could pull in 10, 16, plus percent, year in year out, would only be known to Bernie.

Oh, and it’s safe, too!


50 posted on 12/18/2008 8:41:46 PM PST by Leisler
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To: Leisler

Don’t brokers covered by SIPC pay and insurance premium? I don’t think hedge funds do. So no insurance premium..no insurance.
These people knew they were investing in a hedge fund, not a mutual fund or direct stock. Screw them. They took a big risk for a return and lost.


51 posted on 12/18/2008 10:05:31 PM PST by Oldexpat (Drill Here, Drill There..we must drill everywhere.)
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To: Red in Blue PA
People who go to the horse races and make bad decisions by betting on the wrong horse, shouldn't get bail out too?

Or how about those that pick the wrong numbers in the Lottery?

How are either of these different then putting money in a pyramid scheme?

It's called YOU PLAY-YOU PAY!

52 posted on 12/18/2008 10:18:53 PM PST by SweetCaroline (I would rather suffer than fail to please GOD!)
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To: abigail2

depending on how much he had actually lost (vs reported values) before the mkt crash, it is possible he was taken almost to zero by redemptions and losses during the crash.

I am not under the impression that the bulk of the vanished money was stolen in the sense that he sent it somewhere else, as that would be very easy to trace. I suspect he simply got further and further into the hole, after the initial fatal decision to fudge a quarter’s returns.


53 posted on 12/19/2008 12:56:30 AM PST by WoofDog123
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To: AmericanInTokyo

Socialism with an American face.

(now shut up and eat your ice cream. Er, sorry, we have no ice cream today. Maybe tomorrow.)


54 posted on 12/19/2008 4:55:53 AM PST by Leisler
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To: SweetCaroline

You nailed it. Sad that many here would argue that these people deserve a bailout.


55 posted on 12/19/2008 5:34:41 AM PST by Red in Blue PA (Guns don't kill people; abortion clinics do.)
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To: Onelifetogive
Wait a second. The fund was set up and funded for exactly this purpose. If the Madoff investments qualify, this is not a "bailout". The fund should pay the investors according to its rules.

All of the "funds" cash was invested with Madoff.

56 posted on 12/19/2008 6:46:49 AM PST by dearolddad
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To: org.whodat

“What’s the problem, Madoff’s family has money, one way are the other it came from him, so the people who lost the money need to find some MS13 types to collect their missing money.”

You may not know how correct you are.

Some crooked lawyer in Florida tried to get my father to invest into a ponzi scheme. When we “kids” heard about it, the lawyer was notified by us to expect a visit from 4 Colombians who didn’t know English.

The money was returned to my father with interest.

Other folks weren’t so lucky. They didn’t catch on and were robbed.

He is still in the slammer.


57 posted on 12/19/2008 7:29:26 AM PST by GatĂșn(CraigIsaMangoTreeLawyer)
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