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Jew
Madoff Arrested - 50 billion rip off

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Shelly

Joined: 26 Sep 2008
Posts:
258
Location: Santa Fe

Posted: Fri Dec
12, 2008 10:04 am
Post subject: Jew Madoff Arrested - 50 billion rip
off

the Jew --

http://www.zimbio.com/Bernard+Madoff/about

and the story....

http://www.nytimes.com/2008/12/12/business/12scheme.html?_r=2&partner=rss&emc=rss

On Wall Street, his name is legendary. With money he
had made as a lifeguard on the beaches of Long Island, he
built a trading powerhouse that had prospered for more than
four decades. At age 70, he had become an influential
spokesman for the traders who are the hidden gears of the
marketplace.

But on Thursday morning, this consummate
trader, Bernard L. Madoff, was arrested at his Manhattan home
by federal agents who accused him of running a
multibillion-dollar fraud scheme — perhaps the largest in Wall
Street’s history.

Regulators have not yet verified the
scale of the fraud. But the criminal complaint filed against
Mr. Madoff on Thursday in federal court in Manhattan reports
that he estimated the losses at $50 billion. “We are alleging
a massive fraud — both in terms of scope and duration,” said
Linda Chatman Thomsen, director of the enforcement division at
the Securities and Exchange Commission. “We are moving quickly
and decisively to stop the fraud and protect remaining assets
for investors.”

Andrew M. Calamari, an associate
director for enforcement in the S.E.C.’s regional office in
New York, said the case involved “a stunning fraud that
appears to be of epic proportions.”

According to his
lawyers, Mr. Madoff was released on a $10 million bond.
“Bernie Madoff is a longstanding leader in the financial
services industry,” said Daniel Horwitz, one of his lawyers.
“He will fight to get through this unfortunate set of events.”

Mr. Madoff’s brother and business colleague, Peter
Madoff, declined to comment on the case or discuss its
implications for the Madoff firm, which at one point was the
largest market maker on the electronic Nasdaq market,
regularly operating as both a buyer and seller of a host of
widely traded securities. The firm employed hundreds of
traders.

There was some worry on Wall Street that Mr.
Madoff’s fall would shake more foundations than his own.

According to the most recent federal filings, Bernard
L. Madoff Investment Securities, the firm he founded in 1960,
operated more than two dozen funds overseeing $17 billion.

These funds have been widely marketed to wealthy
investors, hedge funds and other institutional customers for
more than a decade, although an S.E.C. filing in the case said
the firm reported having 11 to 23 clients at the beginning of
this year.

At the request of the Securities and
Exchange Commission, a federal judge appointed a receiver on
Thursday evening to secure the Madoff firm’s overseas accounts
and warned the firm not to move any assets until he had ruled
on whether to freeze the assets.

A hearing on that
request is scheduled for Friday.

Regulators said they
hoped to have a clearer picture of the losses facing investors
by that court hearing.

“We have 16 examiners on site
all day and through the night poring over the records,” said
Mr. Calamari of the S.E.C.

The Madoff funds attracted
investors with the promise of high returns and low fees. One
of Mr. Madoff’s more prominent funds, the Fairfield Sentry
fund, reported having $7.3 billion in assets in October and
claimed to have paid more than 11 percent interest each year
through its 15-year track record.

Competing hedge fund
managers have wondered privately for years how Mr. Madoff
generated such high returns, in bull markets and bear, given
the generally low-yielding investment strategies he described
to his clients.

“The numbers were too good to be true,
for too long,” said Girish Reddy, a managing director at
Prisma Partners, an investment firm that invests in hedge
funds. “And the supporting infrastructure was weak.” Mr. Reddy
said his firm had looked at the Madoff funds but decided
against investing in them because their performance was too
consistently positive, even in times when the market was
incredibly volatile.

But the essential drama is a
personal one — one laid out in the dry language of a criminal
complaint by Lev L. Dassin, the acting United States attorney
in Manhattan, and a regulatory lawsuit filed by the S.E.C.
According to those documents, the first alarm bells rang at
the firm on Tuesday, when Mr. Madoff told a senior executive
he wanted to pay his employees their annual bonuses in
December, two months early.

____________________________________________

WHEN are we going to start measuring these Jews like
their names were Mohammed???? -- if this guy was an Arab...
the newsies would be all over the 'conspiracy' of our dreaded
enemy --

but NOBODY is connecting the dots on these
filthy JEWS

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richiedoc

Joined: 17 Aug 2006
Posts:
5572
Location: Liberalville, California

Posted: Fri Dec
12, 2008 11:05 am
Post subject:

This guy will probably get
life or perhaps even the chair.

The SEC is useless. It
appears this guy never made a trade. he just shuffled money in
and out of bank accounts. Any idiot could have looked and seen
that these accounts were not trading any stocks.

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fu3006

Joined: 08 May 2006
Posts:
1177

Posted: Fri Dec
12, 2008 11:09 am
Post subject:

richiedoc
wrote:

This guy will probably get life or
perhaps even the chair.

Or both. Life in the electric
chair.

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Pachuco

Joined: 09 Dec 2008
Posts:
94
Location: Poontang, Mexico

Posted: Fri Dec
12, 2008 11:14 am
Post subject:

fu3006 wrote:

richiedoc
wrote:

This guy will probably get life or
perhaps even the chair.

Or both. Life in the electric
chair.

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Jessica6

Joined: 12 Dec 2008
Posts:
1

Posted: Fri Dec
12, 2008 12:16 pm
Post subject: enough already with this OMG the
JOOS

Shelly, I registered a
profile just for you. Don't you feel proud now.

WTF is
so wrong with your life that you have this weird obsession.
Lay off the meth pipe and get some mental help!

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richiedoc

Joined: 17 Aug 2006
Posts:
5572
Location: Liberalville, California

Posted: Fri Dec
12, 2008 12:20 pm
Post subject:

Shelly is the newest
incarnation of Telluride, the Colorado ski town wedding
apparel retailer who has apparently opened up a new store in
Taos in time for this ski season.

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Klepht

Joined: 14 Jan 2008
Posts:
2172
Location: Placing the crosshairs on you

Posted: Fri Dec
12, 2008 4:45 pm    Post
subject:

The jews had their fun back
in 1900-1930 in Germany. Today, they're doing the same thing
but globally.

The result will be the
same.

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Lindyrig

Joined: 11 Aug 2006
Posts:
839
Location: Land of Fargo speak

Posted: Fri Dec
12, 2008 4:51 pm    Post
subject:

I read an article about his
company and other investors wondered about his company but
never could pin it down to fraud. Another firm that deals in
due dilligence studied them extensively and advised not to
invest with them but didn't uncover his scheme. Most of these
investors were wealthy and some hedge funds got taken for a
ride. The guy is 74 and will probably do a Enron Lay type of
cop out.

Lindy

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menutzich

Joined: 13 Jun 2005
Posts:
4753

Posted: Fri Dec
12, 2008 4:52 pm    Post
subject:

Religion knows not
greed!

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BuckWheat

Joined: 04 Jun 2008
Posts:
837

Posted: Fri Dec
12, 2008 5:14 pm    Post
subject: Re: enough already with this OMG the JOOS

Jessica6
wrote:

Shelly, I registered a profile just for
you. Don't you feel proud now.

WTF is so wrong
with your life that you have this weird obsession. Lay
off the meth pipe and get some mental
help!

If
you went to all that trouble, couldn't you have posted
something worthwhile?

The drug innuendoes and "mental
help" exhortations were all the rage 15 years ago, but have
largely lost their allure in modern times.

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