Posted on 11/03/2011 3:42:09 PM PDT by tobyhill
” L/E should start there.......and then go to Corzine’s “foundation”——where there’s zillioins of ways to launder money. “
Excellent idea, Liz. Methinks Corzines “foundation” may be cracked : )
Newt’s remarks about Lord Ohha are classic and on target:
Newt Gingrich: “Obama Is About As Candid As Bernie Madoff” (Video)
http://www.hapblog.com/2011/11/newt-gingrich-obama-is-about-as-candid.html
Perfect
Newt’s comments comparing Lord Ohha to Madoff are accurate and on target.
They are both criminals,but Obama is still avoiding prosecution.
Now all that’s needed is irrefutable e evidence the Obama administration leaned on Corazine for funds and the circle will be complete.
Heh-—”Ohaha’s as candid as Madoff”-—beautiful. Newt.
Thanks for the link.
Oh, that's a "money" shot :~) And, I would add, Obama is about as "transparent" as Madoff.
Speaking of Madoff... Season 3 of TV series Damages (2007-) (with Glenn Close and Rose Byrne, available on DVD 3-disk set, 13 episodes, about 13 hours, to rent or to buy) is about dealings and a family of "fictional" Ponzi scheme meister 'Louis Tobin' who has swindled about $70B over a long period of time, and his ties to Eastern European / Russian underworld, money laundering, and Latin America / Caribbean financial havens. Politics in the DA's office, doublecrossing and the corruption of some in the law enforcement go without saying.
A Direct-to-Video movie Across the Line: The Exodus of Charlie Wright (2010) (with Aidan Quinn, Andy Garcia, Mario Van Peebles, Luke Goss, Gina Gershon and Bokeem Woodbine) is about a Ponzi scheme billionaire on the run from the law and the Russian and Latin American mafias.
There are still a few who keep prospering on Madoff :
From Picard awards now $225.1M - NYP, 2011 October 21
In an order made public yesterday, US Bankruptcy Judge Burton Lifland in Manhattan awarded Baker & Hostetler $44.7 million and Picard $599,301 for their work in the four months ended May 31, a court filing shows. They will be paid a respective $40.25 million and $539,371, for a total of $40.8 million, for the period, reflecting a 10 percent discount from their normal hourly rates. ..... < snip > Irving Picard, the trustee seeking money for victims of Bernard Madoff's fraud, and his law firm were awarded another $45.3 million of fees by the judge overseeing the liquidation of the imprisoned Ponzi schemer's investment advisory firm.
From Mets Ruling Would Give Madoff Family $82 Million, Trustee Says - BL, by Linda Sandler, 2011 October 28
The confidence man's family took out $141 million in the six years before Madoff's firm went bankrupt in 2008, of which less than $59 million was taken in the two years before the bankruptcy, trustee Irving Picard said in a filing. Many other investors are trying to hang onto stolen" money from fictitious trading that belongs to customers who took losses in the fraud, he said. ..... < snip > Rakoff, in his order to Picard, said, These arguments implicate the questions about how to integrate the securities and bankruptcy laws." Under securities law, some withdrawals from a brokerage may be protected from clawbacks, he has said. ..... < snip > Bernard L. Madoff's family would keep about $82 million of other investors' money" under a ruling that limited a bankruptcy trustee to claiming from the owners of the New York Mets only two years of withdrawals from the Ponzi scheme, according to a court filing.
From Madoff Trustee: Sum to Be Recovered Unclear - BL, by Karen Gullo, 2011 November 05
Irving Picard has filed 247 actions and reached settlements with the estate of Madoff investor Jeffry Picower and hedge fund firm Tremont Group Holdings Inc. to recover money from Madoff's Ponzi scheme. The majority of the $8.7 billion gathered by the trustee for distribution to investors who lost money with the con man remains tied up in court. We have a $5 billion settlement and a $1 billion settlement," Picard said in an interview yesterday in San Francisco. It's all being appealed." ..... < snip > ..... This week, JPMorgan Chase & Co. (JPM) won dismissal of $19 billion in claims in a lawsuit brought by Picard. He alleged the biggest U.S. bank aided the fraud. A federal judge said Picard lacked standing to demand common-law damages on behalf of customers of Bernard L. Madoff Investment Securities LLC. "Some of my authority to bring those actions has been called into question," Picard said. We will be appealing those decision. In my view, unless we are imaginative, creative and go after some of these things, the victims don't have a chance of becoming whole." ..... < snip > The trustee liquidating Bernard Madoff's former firm said it's unclear how much his lawsuits will recover for the con man's victims because billion-dollar settlements and cases are being challenged in court.
Translation: he didn't have the said "authority" to begin with, but he'll keep charging "billable hours" by filing "imaginative and creative" frivolous "big pockets" lawsuits and punitive claims, which he has no authority or "standing" to file under clawback rules, until he sucks as much money out of the system as he can, at the expense of his "class" of Madoff [willing and unwilling, crooked and innocent] victims, while he is damaging their "class" cases in bankruptcy and appeals courts.
Fat chance. Obama will just ignore them like he always does and the media will be silent. End of story.
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