Posted on 12/25/2008 5:29:22 AM PST by jimbo123
New York University slapped tarnished financier J. Ezra Merkin with a lawsuit yesterday stemming from his ties with alleged con artist Bernard Madoff.
NYU, one of the largest private universities in the US, says it may have lost more than $24 million due to Merkin's investments with Madoff "in the face of an extraordinary number of 'red flags.' "
(Excerpt) Read more at nypost.com ...
Which hedge fund does Chelsea Clinton work for?
But how do you get money from a turnip?....
.. unless you can go after the millions, billions he has snuckered away in some secret vault in Switzerland, for his family.
But then it could have been named brought to you by newt.
This is why Madoff's bail should be revoked immediately, and the screws put to him bigtime. Suicide watch, of course.
I think that is most unlikely.
All the money went to investors who have been making withdrawals of their huge gains, that never in fact existed. If you’ve been getting 12% a year for 20 years, it really adds up.
Right, the vast majority of the money probably went to other “investors” but it would be inconceivable that Madoff didn’t squirrel away (at least) several millions. Right now, someone other than he knows where the money is.
She was in up to her eyeballs with the Obama Depression even before he announced he was going to start it up.
It bears repeating. Many of these folks who steered ‘investors’ toward Madoff received kickbacks from Madoff.
1) Crooked Madoff with fake fund.
2) Greedy investors seeking profits from a fund they thought was inside trading or committing tax fraud.
3) Rain makers who channeled investors to Madoff for a kickback.
4) SEC who refused for years to investigate Madoff due to family relations with the Mench.
Quid pro Quo?
You'd think investment bankers would be smarter than that. Of course all of 'em were depending more and more on computers so they could take on quite a few supernumeraries to peddle annuities to the elderly or something.
One of the nations most left wing universities gets hosed! GOOD!
And Connecticut’s Attorney General is going after “accountants, investment advisers or other investors who withdrew their money early from the scheme.”
http://www.courant.com/news/local/statewire/hc-ap-ct-madoff-blumenthaldec23,0,421232.story
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