Breaking Now: $50 Billion Madoff Scandal One of the Biggest Frauds in History

[PopHistorian]

Only, if only, folks could realize that Blagojevich is really typical in his corruption, and Madoff is typical in his, we might get a few more people waking up. Here's a story that, depending, on how much it penetrates the mainstream media, could really get people wondering about the scale and depth of corruption. It's pretty clear that they don't understand the economic collapse because they can't find an individual to blame. But, when individuals are fingered like this, maybe, just maybe, they will get a glimpse into how there is simply no bottom to the depravation of psychopaths.

_http://www.reuters.com/article/topNews/idUSTRE4BA7IK20081212?feedType=RSS&feedName=topNews

Bernard Madoff arrested over alleged $50 billion fraud

NEW YORK (Reuters) - Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever.

The former chairman of the Nasdaq Stock Market is best known as the founder of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. But he also ran a hedge fund that U.S. prosecutors said racked up $50 billion of fraudulent losses.

Madoff told senior employees of his firm on Wednesday that "it's all just one big lie" and that it was "basically, a giant Ponzi scheme," with estimated investor losses of about $50 billion, according to the U.S. Attorney's criminal complaint against him.

A Ponzi scheme is a swindle offering unusually high returns, with early investors paid off with money from later investors.

On Thursday, two agents for the U.S. Federal Bureau of Investigation entered Madoff's New York apartment.

"There is no innocent explanation," Madoff said, according to the criminal complaint. He told the agents that it was all his fault, and that he "paid investors with money that wasn't there," according to the complaint.

The $50 billion allegedly lost would make the hedge fund one of the biggest frauds in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets.

[...]

Madoff Charged in $50 Billion Investment Advisory Fraud
_http://www.bloomberg.com/apps/news?pid=20601087&sid=a8EVy7KVpBaA&refer=home

The Madoff Story is Huge
_http://www.thestreet.com/story/10452852/1/kass-the-madoff-story-is-huge.html

The Madoff Scandal: This Could Really Hurt
_http://www.thestreet.com/story/10452856/1/madoff-scandal-this-could-really-hurt.html

 

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The Bernard L Madoff Crime Story

I usually am uninterested in crime stories, but Bernie Madoff is the King of the Grifters. I watched the linked video of his presentation to an audience with the same fascination I would have watched cats hunt or an osprey take a seagull above a Pacific beach. His marks live in Manhattan, Palm Beach, and Geneva and probably thought they were higher up the food chain. He stole from the rich and kept it. I would applaud, except the ones who will ultimately pay for these crimes are hard working normal human beings. We all pay, but the veil is lifted for a moment on our economic chains exposed by the chaos of financial collapse. The predators and more important, the system of legal predation is there for all to see.

http://www.sott.net/articles/show/171019-Bernie-Madoff-probable-sociopath-following-in-the-footsteps-of-Charles-Ponzi-definite-sociopath

I love that phrase, "no moral alarm sounded" - never does for sociopaths, must be quite an advantage over us.

He had this polished, magnetic approach that made folks want to invest their money with him. Everyone wanted in. From time to time, he would also reject potential investors. That just made other folks even more keen on getting into the Madoff fund.
What a con! Folksy, magnetic. Laid a trail of candy for his marks to follow.

I have often heard it remarked that these conmen are soft sell artists. I believe that is only superficially true. I think that they are actually using all their abilities and concentration. One way of looking at it is that they are running quintuple time mentally, so much so that they appear relaxed and nonchalant on the surface. I once knew a sociopathic Don Juan who was so talented that his targets thought they seduced him, but really he was that far ahead of them (all the while adjusting his personality to his reading of the mark's ideal and again laying a trail of bread crumbs/candy).

Top rank sociopaths are so good at what they do that their manipulations approach the realm of "weaving reality." I would predict that Madoff approached this level. When I was in management at E.F. Hutton I hired a couple of sociopaths. One had eyes that were just pools of trustworthiness - it was almost impossible not to trust him. In turned out that he was a fraud, he couldn't do half the things he had said he could do.

http://www.sott.net/articles/show/170908-Oy-vey-Jewish-leaders-fear-anti-Semitic-backlash

Mr Madoff was chairman of the business school and treasurer of the board of trustees at Yeshiva University, an orthodox Jewish institution in New York. He resigned his posts on Friday. The Madoffs were also significant contributors to the United Jewish Appeal-Federation of New York.

Comment: We didn't hear of any attacks on Jews due to Bernie's theft, so we are left to conclude that the Jewish leaders are grabbing the opportunity to air the "anti-Semitic" label once more. After all, Jews around the world have to constantly be reminded that they have been and will be prosecuted and victimized, or how else to enforce their nationalistic sentiments that lead them to back the Israeli leaders in their murders?

The anti-semitic shield is being deployed to protect the larger conspiracy of the psychopaths initiated by Judaism’s “choosen people” mythology dividing mankind into Jews and Gentiles with the psychopaths preying upon both communities. The mechanics of this millennia old crime are based on the special knowledge psychopaths have of human psychology. We have a great opportunity to examine these crimes against humanity by referencing Bernard Madoff’s crimes and their scientific and historical context with Andrew M. Lobaczewski’s work Political Ponerology and Douglas Scott Reed’s Controversy of Zion. Links at http://ponerology.blogspot.com/.

Elaine Meinel Supkis has knowledge of finance and the Jewish community by marriage. She has pulled together a great wealth of evidence and comment on her blog piece, All In The Family Fraud. She seems a woman of conscience and great energy. I will leave the links hot, for the moderators discretion

http://emsnews.wordpress.com/2008/12/19/all-in-the-family-iii/

A huge percentage of the US media is mostly owned, run and often written by members of the Jewish community. The Madoff affair has exposed this community to a lot of obvious scrutiny and it is equally obvious that the community wants to end this scrutiny. In Israel, where the Jewish community can chat with each other openly, they are worried that the world might notice the wealth accumulated in this story and how it was abused and are worried about anti-semitism growing.
So the selection of Ms. Schapiro, who is one of the ‘family’ is greeted with relief and joy in the Jewish financial community. She will not expose them to any more scrutiny and they collectively hope they can find some way to bury the mess they made with interlayered swindles and wretched, obvious schemes and scams.

The relationship between the psychopathic Bernard L. Madoff , the Jewish community, Zionism, Judaism, and the larger human community is exposed for close examination by this sordid story. We see a psychopath complicit in the pathologies of Zionist racism and its predation on the Jewish community and the larger human community. The romance of a persecuted people, thriving against great odds is unmasked at its financial core as a criminal conspiracy parasitizing humanity by interlocking rings of complicity and benefit. Madoff has spent his criminal career supporting Zionist interests in the USA and Israel with his ill gotten gains. Many investors believed he was a thief, a Robin Hood in the Jewish community. I saw a CNBC special on the so called Fraud of the Century tonight. Bernie was wearing a baseball cap and stylish black jacket in the style of John Gotti. Why is CNBC presenting him as the lone gunman? A criminal organization of this size has many participants. Many of the individuals and foundations have received stolen money for decades. The organizations that fed funds into his Ponzi fraud appear to be part of the criminal conspiracy. He is a classic con man, with connections and protection from the highest levels of the financial industry. Perhaps he is a sacrificial lamb to distract angry people from the Ponzi nature of the entire banking and financial industry. We might as well note the US Treasury and the Federal Reserve Bank run a similar scam with US Treasuries and US Bonds, so perhaps Bernie just thought it was business as usual.

Madoff served as the Chairman of the Board of Directors of the Sy Syms School of Business at Yeshiva University., as well as Treasurer of its Board of Directors. His website informs that Lazard Frères & Co. LLC, a prominent Jewish banking organization has been retained to sell BMIS. The records of this firm should be treated as a crime scene, before any evidence is erased or sold. This is a fascinating story of true crime. Madoff is a master con man and Elaine Meinel Supkis examines his body language and crimes with the skill of Sherlock Holmes and the wit of H.L. Menchen. Many realities of our world are exposed by her work. There a video of the conman making his pitch for those who want to hear the words and gestures of a smooth talking predator at the following link.

http://emsnews.wordpress.com/2008/12/17/psychoanalyzing-mr-madoff/

All apprentices betray their fears and anxiety. But full time wizards who are pulling a rabbit out of the hat all use the same thing: Openness and warmth— open-lipped smiling, open hands with palms visible, unbuttoning coat upon being seated’ is supposed to be signs of honesty. But this is also exactly how ALL psychopaths operate. They hone the skills of lying, deceit and manipulating people so they can rape, loot and murder with utter impunity. Note also that he has his coat unbuttoned and is pulling the ‘friendly uncle’ routine.

 

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Re: The Bernard L Madoff Crime Story

http://www.sott.net/articles/show/171286-The-Madoff-Double-Bluff

Rather than saying this hedge fund has gone bust, due to its choice of investment assets and investment methologies, a scenario which is highly probable in the current financial paradigm, since all the professionals are predicting that at least 30% of all hedge funds are about to fail, more than 700 of them, the CEO chooses to fess up to fraud. If the CEO admits the fund has gone bust, then all those wealthy members of the Jewish community get nothing, but if the CEO admits to fraud they get their money back as compensation from the US tax payer, just as they are also drawing money back from the tax payers with the other hand.
......

Would that I could believe that Madoff were a good guy who slipped and then became repentant. But given the facts, this simply cannot be the case.

Are Bernie Madoff's and his investors preparing to steal funds from the taxpayers to replace the funds they stole in the first place? That is the inescapable conclusion of the above story. It looks like stealing is normal business for the hedge fund crowd.

edit.........

http://www.sott.net/articles/show/171351-The-Slow-Slide-Continues-and-the-Strange-Affair-of-Bernie-Madoff

Madoff is a committed Zionist and can therefore be safely assumed, given his wealth and influence, to be part of the inner circle of American Zionists that call the shots in New York and Washington. He is therefore not a man working alone; his business was made on electronic trading and advanced computerization, an area where Israel is a world leader; his business is a perfect money laundry, a service that Mossad has great demand for, as do the Bush family and their criminal associates as a result of their narcotics income; he seems to have spirited away a vast sum of money that must have gone somewhere and could have been used to pay for all manner of nefarious activities including whole mercenary armies and weapons systems, not to mention the funding of innumerable politicians; and last but certainly not least he made no attempt to run but confessed just six weeks before the new President takes office. The idea that this is another loose end being tidied up and tied off before the new administration takes office, an administration that will be just as infiltrated as the last but from different sources and by different agents, certainly seems to fit the facts as we see them today.

Sott's economics team takes an inside look at the Madoff Affair. Their analysis looks at the larger context of the criminal organization which has taken over finance, politics, academia, and media in the USA. This on going usurpation of the Constitution of the United States and the enslavement of humanity has occurred in public with periodic announcements by the principals of the crime family. The following quote is an example of the bold agenda of the conspirators.

"We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.” – James Paul Warburg, whose family co-founded the Federal Reserve - while speaking before the United States Senate, February 17, 1950

James Paul Warburg
(1896-1969) son of Paul Moritz Warburg, nephew of Felix Warburg and of Jacob Schiff, both of Kuhn, Loeb & Co. which poured millions into the Russian Revolution through James' brother Max, banker to the German government, Chairman of the CFR
Source: while speaking before the United States Senate, February 17, 1950

edit......

The insinuation of family crime networks into government regulatory bodies seems prepared to continue unobstructed into the Obama administration. Perhaps the hubris of these criminals will eventually be their undoing.

http://www.counterpunch.org/martens12222008.html

Marc Mukasey, the son of the U.S. Attorney General, Michael Mukasey, is representing Frank DiPascali, a key Madoff employee. This has resulted in the highest law enforcement officer in the nation recusing himself from the investigation of the largest Ponzi scheme in history.

Naturally, the Madoff money trail of special favors and exceptions leads straight to Washington. From 1998 through 2008, Bernard L. Madoff Investment Securities paid $590,000 lobbying Congress and the SEC, according to the Center for Responsive Politics. His lobby firm for most of those years was Lent, Scrivner & Roth, with Norman F. Lent III signing the disclosure documents in the House and Senate. One of Madoff’s hot button issues during those years according to the disclosure documents was getting a single regulator. That meant, for starters, merging those prying eyes over at the New York Stock Exchange into the clubby pool of self-regulators at the National Association of Securities Dealers where the Madoff family held numerous seats of power. That wish came true when NASD Regulation merged with the enforcement and arbitration units of the New York Stock Exchange in July 2007 to create the Financial Industry Regulatory Authority (FINRA). CEO of the consolidated body is Mary Schapiro, who formerly headed up NASD Regulation, one of the most conflicted bodies in the history of finance. Ms. Schapiro has just been nominated by President-Elect Barack Obama to be the new SEC Chair. Expect to hear more about killing off the SEC (instead of giving it some teeth) and giving Madoff and his fellow miscreants their ultimate dream of just one compromised regulator instead of three.

edit.....Christmas Eve Day

The Department of Justice and The US Treasury decline to enforce money laundering laws against the criminal Zionist gangsters who apparently rule the USA. The USA seems to be a country defeated and occupied by an alien and criminal force operating in secret, with complete immunity from the laws of the United States and human decency. The tentacles of this criminal organization continue utilize the resources of humanity on behalf of a few predators. The wolves continue to skin and eat the sheep, who hypnotized to believe they are free, cannot see the mounting evidence or hear the cries of the victims.

http://www.sott.net/articles/show/171464-DOJ-and-Treasury-Rebuff-Calls-to-Investigate-Alleged-60-Billion-Israel-Money-Laundering-Ring

On March 18, 2005, the Jewish Daily Forward reported that US nonprofit organizations such as Hadassah and B'nai B'rith controlled corporations implicated in the criminal activity.

edit--December 28. 2008

The Israeli forces supported by Bernard Madoff's stolen money are murdering innocents in the Gaza Strip today. In my opinion, many of Madoff's clients are not victims, but co-conspirators in genocide perpetrated by the racist outlaw state called Israel in occupied Palestine.

http://www.dissidentvoice.org/2008/12/the-madoff-victims-they-richly-deserved-it/

Other victims of Madoff’s deception, like the Shapiro Family Foundation and the Chais Family Foundation, are undoubtedly genuinely philanthropic and well-meaning. But insofar as their gifts support Jews-only education, medicine, and social programs in Israel, they deserve the derision that would be accorded to Aryan philanthropists or others who support a racist state, one whose very laws favor one chosen group over all the rest.

 

[go2]

Re: The Bernard L Madoff Crime Story

http://en.wikipedia.org/wiki/Chutzpah

In Hebrew, chutzpah is used indignantly, to describe someone who has over-stepped the boundaries of accepted behavior with no shame. But in Yiddish and English, chutzpah has developed ambivalent and even positive connotations. Chutzpah can be used to express admiration for non-conformist but gutsy audacity. Leo Rosten in The Joys of Yiddish defines chutzpah as "gall, brazen nerve, effrontery, incredible 'guts,' presumption plus arrogance such as no other word and no other language can do justice to." In this sense, chutzpah expresses both strong disapproval and a grudging admiration.

The Hebrew word chutzpah certainly describes a Bernard Madoff insanity defense for stealing fifty billion dollars in a twenty year scheme involving highly sophisticated financial transactions. Of course, Madoff's psychopathic behavior may indeed be the result of a lack of conscience. It is interesting the Hebrew community has a special word defined by psychopathic behavior in its bold and self-centered glory. The elevation of smooth talking grifters (psychopaths) to positions of trust and veneration leads to the unraveling of society, as these deviants become the standard for behavior. The abuse of legal accountability leaves humanity at the mercy of psychopaths, by sanctioning lying and stealing for the select few with chutzpah.

http://www.sott.net/articles/show/171893-Madoff-may-claim-insanity-argue-his-psychopathy-made-him-do-it

"Bernie's family and his attorneys may argue that, somewhere along the line, he had a mental break," says a Madoff acquaintance. "They may even say he has a multiple personality disorder."

 

[Ca.]

Only, if only, folks could realize that Blagojevich is really typical in his corruption, and Madoff is typical in his, we might get a few more people waking up. Here's a story that, depending, on how much it penetrates the mainstream media, could really get people wondering about the scale and depth of corruption. It's pretty clear that they don't understand the economic collapse because they can't find an individual to blame. But, when individuals are fingered like this, maybe, just maybe, they will get a glimpse into how there is simply no bottom to the depravation of psychopaths.
_http://www.reuters.com/article/topNews/idUSTRE4BA7IK20081212?feedType=RSS&feedName=topNews Bernard Madoff arrested over alleged $50 billion fraud

This is an update of Wall Street complicity using Bernard Madoff as the fall guy (aka the Oswald). The research and inside information destroys financial lone wolf theory. The real monetary numbers (in dollars), is staggering. (plus related and current finance info)

Published on Aug 12, 2016

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"V" Interviews Helen Chaitman - Author of the book JP Madoff

Bernard Madoff
https://en.wikipedia.org/wiki/Bernard_Madoff
Incarceration : (necessary intimidation by the financial oligarchs)
https://en.wikipedia.org/wiki/Bernard_Madoff#Incarceration

On December 18, 2009, Madoff was moved to Duke University Medical Center in Durham, North Carolina, and was treated for several facial injuries. A former inmate later claimed that the injuries were received during an alleged altercation with another inmate.[125]

Other news reports described Madoff's injuries as more serious and including "facial fractures, broken ribs, and a collapsed lung".[124][126] The Federal Bureau of Prisons said Madoff signed an affidavit on December 24, 2009, which indicated that he had not been assaulted and that he had been admitted to the hospital for hypertension.[127]

In his letter to his daughter-in-law, Madoff said that he was being treated in prison like a "Mafia don".

They call me either Uncle Bernie or Mr. Madoff. I can't walk anywhere without someone shouting their greetings and encouragement, to keep my spirit up. It's really quite sweet, how concerned everyone is about my well being, including the staff ... It's much safer here than walking the streets of New York.[128]

Helen Chaitman C-Span
http://www.chaitmanllp.com/helen-davis-chaitman/

https://www.c-span.org/person/?helenchaitman