[HiTech RedNeck]

Bernie would have come down a lot quicker had everyone understood the SEC was asleep at the wheel. But now we know that, why we don’t see a shower of more tumbling Bernies is a puzzle.

[july4thfreedomfoundation]

Social Security is the biggest ponzi scheme of all time.

[arthurus]

“Major scandals” may be about to be revealed but only if they did not contribute to the present administration’s election campaign and continuing operations. Madoff’s undoing came because he did not contribute to the Chicago machine and now the chicago machine runs the country.

[detective]

All the financial scandals that have recently come to light started in the 1990's and were by people who were politically connected. Enron employed Laura Tyson, Mac McClarty and many other Clinton administration officials. Madoff was close to Schumer and other Democrats. The Sandlers at Golden West were close to Soros and many top Democrats. The head of Countrywide was also close to many top Democrats. All the top people at Fannie Mae and Freddie Mac were high level Democrats. Stanford was politically connected. There is a new scandal at Ginnie Mae that is being covered up by the MSM.

http://online.wsj.com/article/SB40001424052970204908604574334662183078806.html

[wolfcreek]

How is this different from the gambling....I mean derivatives market?

The same but, in reverse?

[Ozone34]

The money quote:

“To put it in simple terms, it is like buying fire insurance policies from five different insurance companies on your neighbor’s house and then burning down the house,” he said.

[Condor51]

Liz ((((((ping ))))).

Think you should see this.