GETTING SERIOUS; AG WEIGHS INVESTIGATION OF MERKIN (hedger cum GMAC chair slobbed $6B tax dollars)

NY POST ^ | 1/11/09 | JAMES DORAN

[Liz]

Ezra Merkin may have jumped from the frying pan right into the fire.....the hedge-fund billionaire who lost as much as $3 billion in investor funds with Bernie Madoff has the NYAG looking over various pieces of evidence ahead of a possible full-fledged probe........Merkin was feeding hedge funds into Madoff's operation while serving as GMAC Chair (an auto-and home-financing company).......many felt Merkin should not be trusted with $6B federal rescue money GMAC received. Merkin resigned as GMAC chair Friday.....he pocketed hundreds of millions of dollars in investment fees over the years. Merkin lives in a posh duplex at 740 Park Ave, Manhattan, known as the richest address in NYC. Merkin is the son of the late Hermann Merkin, a lion of Jewish philanthropy who gave millions to help build Yeshiva University, the Fifth Avenue Synagogue and NYC's Merkin Concert Hall.

[Liz]

Bernanke, Paulson, Merkin---salivating to divvy up the taxpayers' billions. Americans have not yet learned the full extent of official corruption, thievery, schemes and scams involving $BILLIONS of tax dollars aided and abetted by the dupes on Capitol Hill.

News organs report that J. Ezra Merkin, GMAC chair, Fifth Avenue Synagogue president, and chair of Yeshiva University's Investment Committee invested some $1.8 billion w/ Madoff (through Merkin‘s Ariel and Ascot Partners hedge funds). Madoff was reportedly choosy about his investors---many were told they were "favored" if Madoff allowed them to "invest" with Madoff's "sure thing." Merkin was a "feeder;" he introduced wealthy people to Madoff and gave Madoff access to prominent tax-exempt Jewish religious charities and universities. Members of the Fifth Avenue Synagogue, located on the wealthy Upper East Side of Manhattan, are estimated to have invested $2 billion with Madoff. Former congregants included infamous tax dodger and Clinton pardonee Mark Rich who renounced his American citizenship to evade prosecution. Rich's fellow congregants later sprang to his defense and used their stature and power get the CLinton pardon.

Merkin (is) was also Chairman of the Yeshiva University Investment Committee.

REFERENCE Yeshiva University is a huge complex and Orthodox stronghold---it maintains four campuses in New York City and a campus in Israel: along with dormitories, a library, a hospital and other medical facilities; several Graduate and Professional Schools, rabbinical schools, a museum, academic centers and institutes for high school level students, and centers for Israeli studies in New York, and in Israel, etc, etc, etc.

Ira Rennert, Fifth Avenue Synagogue board chair, and Chairman of Yeshiva University Investment Committee, invested some $200 million w/ Madoff.

Hamptonites complain this astoundingly palatial mega-mansion in the posh Hamptons is actually a "synagogue-residence-yeshiva" for Orthodox Judaism students. The complex---which rivals Versailles and Buckingham Palace----was built by Fifth Avenue Synagogue board chair Ira Rennert.

Is this astoundingly palatial oceanfront Hamptons mega-mansion
a "synagogue-residence-yeshiva" for Orthodox Judaism students?

========================================

POINTS TO PONDER It is particularly relevant that Madoff’s investors were affiliated exclusively w/ Orthodox Judaism----no other institutions connected with Reform, Conservative or Reconstructionist branches of Judaism invested with Madoff.....

The average "hate-filled anti-Semite" might ask: How can Orthodox relihionists be designated "disadvantaged minorities" when they are investing hundreds of millions of dollars w/ Madoff?

BGRND Orthodox Judaism was designated a "disadvantaged minority" under Lyndon Johnson's "Great Society." This meant that Orthodox became beneficiaries of millions upon millions of tax dollars----federal community development funds. Federal and city assistance received over the years include CETA (Comprehensive Employment Training Act) monies, Section 8 housing assistance, school meal funds, Headstart, HUD grants, and low interest loans. In 1984, federal aid was expanded when the federal government included Orthodox in a priority group of six disadvantaged minorities recognized by all federal agencies.

SOURCE Read more about this subject on the PBS web site which aired a three-part series on the activities of Orthodox in America.

[Venturer]

Theiving SOB’s .

[Liz]

Excellent summation.

[taxcontrol]

Slobbed? slobbed? What is this “slobbed”? Is this one of those quaint British terms that has some meaning other than the most natural extension of the language? Slobbed meaning past tense of slobbering ... or salivating?

Please explain.

[NativeNewYorker]

Madoff’s investors were affiliated exclusively w/ Orthodox Judaism

Uh, that's not true. I know many MANY non-observant Jews whe were scammed by Madoff.

It's fair to say he hit the Orthodox disproportionately hard, but it's NOT fair to say they were the sole focus among Jews.

[Liz]

From the cascading news stories about his activities, it appears Madoff was close to, and was introduced to, Orthodox individuals and institutions for investment purposes.............

Later when the Ponzi scheme escalated, when he needed new money to payoff his original investors, he did let other people into his "sure thing" .......but only with personal recommendations, and only as a personal "favor."

BTW, be careful of drinking that Kool-Aid---it's lethal.

[knarf]

Hmmpphhh ... you targeted only 'slobbed' because you were afraid to connect cum with slobbed?

Liz, dahlin' ... is that your parenthetical?

Look what you've done to poor taxcontrol!

/8^)

[Elle Bee]

MERKIN

A merkin (first use, according to the OED, 1617) is a pubic wig, originally worn by prostitutes after shaving their genitalia to eliminate lice or disguise the marks of syphilis.Also many women used them so they didn't have to hide the fact that they had shave their genitalia There are many different ways of wearing a merkin, although most involve placing the merkin on the vulva or the scrotum.[citation needed]

.

[Elle Bee]

MERKIN

A merkin (first use, according to the OED, 1617) is a pubic wig, originally worn by prostitutes after shaving their genitalia to eliminate lice or disguise the marks of syphilis.Also many women used them so they didn't have to hide the fact that they had shave their genitalia There are many different ways of wearing a merkin, although most involve placing the merkin on the vulva or the scrotum.[citation needed]

.

[knarf]

Hokey smokes, Elle .. you just compounded my #7 !

[Liz]

LOL.....knarf, sweetiepie——don’t worry about it, honeykins.

To play with the Big Guys on FR, they gotta be able to figure these things out, without making complete a**es of themselves.

[JaguarXKE]

This seems fitting, somehow:

mer⋅kin   /ˈmɜrkən/
[mur-kuhn]

–noun false hair for the female pudenda.

------------------------------------------------------

Origin:
1610–20; orig. uncert.

From www.Dictionary.com

[Liz]

MAP OF MADOFF'S FAMILY-SOCIAL LABYRINTH USED
TO RAKE IN BILLIONS---INTERACTIVE AT WEB SITE

WEB SITE http://news.muckety.com/2008/12/28/madoff-used-social-family-networks-to-rake-in-billions/9031

That doe-eyed, winsome smirk hides an unspeakable evil.

"I'm Bernie. Trust me."