Talk of a bailout for these billionaires who got scammed????

Wait a lousy second. When 'We The People' get scammed by Big corporations and businesses, congress tells us "Caveat Emptor" - let the buyer beware (religious weaklings should be familiar with dumping their money into scams).

But along come a bunch of pussy billionaires who lost their nut through fraud and they come crawling to We The People's government for a bailout.

What ever happened to 'pull yourself up by the boot straps'?

So much for proud free-market republican fueled capitalism, huh?

NST - No Such Thing.

Catching this administration's "regulators" napping was about as difficult as catching a fish swimming.

Ponzi: Sicilian dance, Milan sports car or Neapolitan pasta dish? herm

Madoff must be as big an idiot as his investors to get caught. He could have left the country years ago with billions to a country with no extradition treaty and then get a pardon from Barry when he leaves office.

Where were the SEC? After several heads up you'd have thought they'd have been all over it.

This is what you get from the 'no regulation' GOP crowd.

Barney Frank....again asleep at the wheel.

ACLUSUX

Once again you prove how clueless you are.

Barney Frank has nothing to do with the Securities and Exchange Commission - who received several complaints about Madoff, yet did nothing.

A better name for you would be "ACLUSUXSUCKS"

A hundred bucks says he's a rethug!

Wanna bet me Fat Tom?

The United States House Committee on Financial Services (or House Banking Committee) oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission (SEC), and other financial services regulators.

It is chaired by Barney Frank (D-MA)

Americannutty.....YOUR WRONG!

Madoff's ponzi scheme is big but is a drop in the bucket compared to what FDR and the dems rigged up in the social security ponzi scheme. When it crashes we can dig up FDR's body and shoot it along with The Dancing Queen Frank and Chris Dodd.

Fact: even sophisticated people can be scammed. The reality about scams is that most of them can be discovered later.

But when it comes to spiritual scam, there is a lifetime to ponder it, but for some people, the discovery will be realized only after they passed on into the next world.

Though not intended as scam and peddled with good intention, because of her wide reach, Oprah has promoted some very dangerous spirituality and I hope people who are almost worshipping her or are swayed by everything she said will rethink their spirituality and come off Oprah's web of deceit --- in the area of spirituality. Other than that I too admire Oprah for all she is and has done to benefit the less privileged.

Wake up, folks! Your eternal destiny is at stake.

Remember when, just a few months ago, $3.6 billions sounded like a LOT of money?

Enron was $63 Billion. This scam was $50 Billion! This is huge!

Hopefully, they will fry him. However, liberal indoctrination is against punishment.

Have you hugged a banker today?

Interesting article linked below about the guy who pulled off this $50 billion ponzi scheme.

The article is from the British newspapers. His ponzi scheme is so wide-spread it's taking down the fortunes of banks, Senators, charities, movie stars, the richest elite of our society. Only the wealthiest were even allowed to invest with Madoff.

Well, you have 8 years of a Republican Administration who did everything they could to make sure there were no regulators keeping an eye on Wall Street -- the brokers, the hedgefunds, all were allowed to operate with no rules or regulations.

Bush kept federal regulators who were suppose to watch for red flags (and there were plenty of them around Madoff's ponzi sheme) to the barest minumum and the few regulators who were on the job knew they had to turn a blind eye to anything that might get in the way of corporate profit.

Well, the Republicans demanded "free trade" at all costs, even in the financial sector. No rules, no regulations, no regulators. Now it's come back to bite them in the ass. The problem now is the U.S. economy's reputation as being a safe place for investment has hit the dirt. People from other countries are pulling out their money because they don't trust our banking system nor our brokerage houses.

Here's the article about Madoff -- the guy who pulled this whole scheme off.

ACLUSUX

The body given the authority to oversee Madoff's business is the SEC. They didn't do their job, despite several complaints.

Period.

Barney Frank had nothing to do with it, but you're welcome to continue to look foolish. Free country and all.

If you learn nothing else from this ponzi scheme, it's to be sure and diversify your money.
Never put your investments all in one place. That's exactly how many of these billionaires lost their fortunes with Madoff and his ponzi scheme.

Too many eggs in one basket....

A hundred bucks says he's a rethug!

Wanna bet me Fat Tom?

#8 | Posted by Mista Kurtz at 2008-12-15 10:15 PM

If he contributed to both parties, but far more to the Democratic party, does that make him a rethug? If not, do I get a fat tom?

$86,300 for Democrats
$7,900 for Republicans

It doesn't matter what political party Madoff belonged to or where his donations went. He was a fancy thief who pulled off one of the biggest con games to fleece the rich and famous. He could have care less whether they were Rupublicans or Democrats, he only wanted their money.

The question here is WHERE were the regulators who worked for the SEC? Why were they not on the job? Why did Bush cut way back on the number of SEC regulators who were suppose to keep an eye on Wall Street, the hedge funds, and crooks like this guy Madoff.

No rules, no regulations, no regulators = criminals like Madoff run amok.

errata:

Madoff's donations were '92 - '08, not solely '08.

but, but, but

he's too big to fail. in fact,if he hadn't said something himself the scheme would still be going strong.

Write your Senator about this bailout. OH, they and their Washington buddies actually were investors. Then forget about writing them, this bailout is a shoe in.

And we wonder why our country is becoming broke and the average citizen is taxed 100 times over for the same thing. Its all legal, they pass laws to make it that way.

Never put your investments all in one place. That's exactly how many of these billionaires lost their fortunes with Madoff and his ponzi scheme.

Too many eggs in one basket....

#16 | Posted by CalifChris

There are some exceptions Chris. As you may remember a while ago I offered you a chance to invest in the alligator meat farm I'm gonna build out in the desert in NW Nevada, well the original stock offering sold out but lucky for you that after a detailed study of the market for gator meat I've decided to expand the operation if you want in contact me.

Bush's fault.

I offered you a chance to invest in the alligator meat farm

I say let the alligators forage for their meat like the crocodiles. Why should we cater to them? Next thing the lizards will be filing discrimination suits, and rattlesnakes will lobby for handicap status.

Marketing reptiles is a slippery slope. Smart to take a pass on this one CC.

And what about the American public? $8.5 trillion was just stolen from them, and they're sleeping like a baby.

RE: #24 | Posted by OzarkAggie

Hey watch it jerk I'm trying to get a con ...err business off the ground here.

Americannutty your statement is 100% incorrect. Lets review this stupidity one more time:

#15 | Posted by AMERICANUNITY

"The body given the authority to oversee Madoff's business is the SEC. They didn't do their job, despite several complaints. Period. Barney Frank had nothing to do with it, but you're welcome to continue to look foolish. Free country and all."

"No rules, no regulations, no regulators = criminals like Madoff run amok "

Too bad the people we want to regulate everything are screw ups too. We're doomed.

BTW: Fuck Oprah

Where where the SEC? Getting scammed by Madoof that's where. He ran a sister, ghost hedge fund. Hedge funds can be UNREGULATED and NOT REGISTERED with the sec, hence exempt from most laws as you know them, and sold to qualified investors. (However fraud is always illegal)

Get it dudes? I don't expect you to, your are not wise enough to market ways to know what that means. It's been that way for a long time, since way before GW's terms.

In other words the onus is on the investors to do due diligence on madoof and his firm.

au why didn't you respond to my simple question on the VW tax brake link???????????

Another failure for under regulation and the Kool Aid drinkers want to blame the liberals. I guess it beats facing the truth.
Fact: Madoff got CAUGHT on Barney Frank's watch.

Fact Barney Frank is has no idea how a hedge fund operates. I had more finance experience in my 20's than Barney Frank had had in his whole life

"Fact Barney Frank is has no idea how a hedge fund operates."

Ya gotta love the self-retorting retort.

And yet you can't remember what city you supposedly live in from one week to the next.

I'll say it again. Another failure for under regulation. This is what happens when you let the foxes run the hen house.

I fully expect us to go the way of the Roman Republic; though in our case, the cause for collapse will be not continuous military violence and disorder, but continuing economic disorder and final collapse. The present system cannot stand. Eventually a day of reckoning must come. When it does, there will be a Caesar or an Octavian in the wings ready to restore prosperity if only he be granted a sufficiency of power.

And the desperate and frightened common herd will grant it to him. Indeed, even the rich and powerful will yield to his blandishments. And if he is clever, like Octavian, he will so disguise his dictatorship that most people will believe--or at least allow themselves to believe--that they still live in a democracy and not a dictatorship.

The Roman Empire was dismantled by European barbarians. America does have some similarities with the Roman empire, but the main difference is that America has a vibrant (not religious Roman Catholic) Christianity to keep it good and humble and grateful --- and benefits the liberals and atheists, and people of other faiths.

So long as applied Christianity is vibrant (coming from protestant denominations of all hues, including reformed Catholics) America will remain good and strong and kind. But when Christianity is watered down and wanes (coinciding with the rise of liberalsm, atheists, and exotic spirituality, etc) consider it a significant sign of the decline of America.

Liberals, ACLU, Planned parenthood, etc, will play in the decline of this great nation --- and one sad day, the 666 system will eventually come into play.

yeah right, Christianity applied with shock and awe: claymore mines; spent uranium; napalm, ether, cluster and rock penetrating bombs; Hydrogen Bombs; torture chambers; and Israel's favorite weapon, the Caterpillar Tractor.

Wasn't Christianity the state religion of the Roman Empire at the time of its fall? Hmmmmm. Seems they were much better off as Pagans.

... though 666 and the beast refers to Nero -- not some mythic end of the world scenario where a dead pacifist guru is going to judge whether you were naughty or nice...

You see folks, rich jews get taken by a jew in a money scam and we have to give them their money back. If you get taken by a scam by a jew banker in the form of a home loan you are on your own.

See who has the financial power in this country. Could it be because the Fed is also run by jews for the benefit of jews (Israel)?

They certainly don't work for us Americans.

Look at the bailouts - Wall Street jewish organizations 7 hundred billion dollars no question asked.

US auto workers - tough, break up the unions and file for bankruptcy.

We are wage slaves to the jews and their is nothing you can do short of a revolution.

Is it time for a revolution?

Do you want your country back?

Many suspicions were voiced to the SEC about Madoff over the last few years.

GOP: Party of 'No Regulation'.

How's that working out?

Hey dude, his hedge fund was unregistered and no complaints were sent regarding such, WHICH MEANS IT WASN'T SUBJECT TO INSPECTION. His investment advisory biz was registered, and had been inspected.

Basically he was a deep pocket democrat who hid behind huge coattails!! But of course you still "blame" republicans.

Same lame-like response to your UAW-VW retort where you blame repub's for throwing middle class under the bus. But when your senior dem senator voted against the same bill, you say that's AOK. Just like obama voting present cause the bills not perfect.

Don't you ever get confused by your pretzel logic?

DAVE DAVE DAVE (tsk tsk)

SEC Didn't Act on Madoff Tips

Don't try to scold me you are clueless! I know you don't understand the difference inbetween a registered IA firm, and an unregistered hedge fund do you, dude?

Of course you don't. The hedge fund only accepts accredited investors, and are NOT subject to regulation.!Nor have they been for decades. It's upto the investors to do their own due diligence!!

Here's a quote from a burned investor

""There's only so much due diligence you can do, and in hindsight you always wish you could have done it differently," Busson said in a telephone interview. "Catching a fraud like this is practically impossible. He seemed like a very experienced, knowledgeable and trustworthy man, like the best con artists always are."

AND he was a democrat!!!!!!!!!!!!!!!

Dave,
He was a democrat in name only. It was part of his ruse. You cannot say you are a repub to those old country club jews and expect them to give you their money. They like to think they are progressive.

Lets face it this guy is a money changer period.

"Have you hugged a banker today?

Posted by aclusux"

Yes. And I lifted his wallet.

Napping? Probably just part of payoff along with judges and top officials.

LOL!

As per usual northgay3 has his head jammed so fucking far up his own ass, he can't make sense out of what is going on, listen you stupid twit, you fucking liberals caused this melt down, and it was brought on because you worthless fucks know your totally fucked socialist suckurity has a major bill due when a zillion baby boomers start bitching about where their socialist suckurity checks are, and your brain fucked leadership won't be able to just say, well we bought illegal alien votes by giving them your socialist suckurity money, so we could get back in power to destroy the greatest nation ever in existence, stupid fucks, the whole bunch of you, you deserve everything little corrupt, clueless black boy brings down on you. THE obamination, banana republic.

We're moving in the White House, and back into Congress with bigger majorities than before.

Seems the majority of America thing YOU are (in your own words) a 'stupid twit'.

President Barack Hussein Obama
Democrat controlled Congress

Blame yourself. You had your shot and blew it huge.

We can't afford any more Republicans anywhere near the till. You increased the national debt 100%, and the size of government 50%.

Thanks, but no thanks.

Need some Windex to clean off that computer monitor?

Here, right wing idiots (that includes you DAVETHEWAVE and ACLUSUX - who insists Barney Franks is in charge of the SEC):

Director of SEC says they failed in Madoff case
Many times agency didn't investigate; alleged scam snared tens of billions

WASHINGTON - Staff at the Securities and Exchange Commission failed many times over a decade to fully investigate credible allegations of wrongdoing by money manager Bernard Madoff, the head of the SEC says, calling it a serious agency breakdown.

SEC Chairman Christopher Cox said he is "gravely concerned by the apparent multiple failures" by staff to look into claims about Madoff's business and to seek formal authority to investigate.

You are an asshole and don't even understand what the fuck I wrote. The you spout some shit about me thinking barney frank was in charge. How clueless pity and stupid can you get.

Of course the sec has blown it. Where did I say they hadn't. You are ignorant and not even worth responding to anymore. When you are wrong you either use selective reading and don't answer or you partial answer and deflect.

FOR INSTANCE where is your answer regarding Max Bacaus's vote against the Big3 bailout, you know democratic chairman of the finance committee.

Either answer the question or admit your are a worthless troll turd