Financial Fraud. How It Works. The Truth behind the Madoff Investment Scandal

How is it that Chase Manhattan and JP Morgan did not know?” he wondered. “Chase and then JP Morgan Chase held Madoff’s account there, and he put all of the money into a single account. There was up to $17- to $20 billion in that account. They made a fortune off of him. Somehow or other, they never took into account that he wasn’t receiving or sending any money to brokers. Somehow, Chase and Morgan never noticed that money wasn’t coming into this huge account from stocks and other investments. If he had been trading securities and trading options, he would have to have been sending money to brokers and they would have had to have been sending money to him. It is unbelievable.”

Velvel said that it is also difficult to understand why there was no external custodian in place for those accounts and the disgraced financier was allowed to act as his own custodian. He said that the big firms which sent business to Madoff, and in turn were making a fortune from feeding clients to him, received the de facto equivalent of bribes.'

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How Can Netanyahu Afford to Defy the U.S.A.?

"Bibi" Netanyahu, Israel's prime minister, is a disciple of Ze'ev Jabotinsky, the founder of the most radical, racist, and militant form of Zionism. Jabotinsky was the Zionist extremist who called for an "Iron Wall" to be built in Palestine. The West should know that there can be no appeasement with such fanatics who are devoted to an ideology of Jewish supremacism, racial and religious segregation, and the creation of Greater Israel. The fact that the U.S. and the international community have now clearly condemned illegal Israeli settlements is piling pressure on Netanyahu and his government of extremists. The crucial question now is how will Netanyahu respond to this pressure? This is a dangerous situation because Zionist zealots, when pressed to make compromises for peace, usually react with violence and terrorism.'

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A Fraud That Makes Madoff Look Small Time

Since Bernard L. Madoff was handcuffed and taken from his office by FBI agents, we have been made well aware of the nature of Ponzi schemes, fraudulent investment opportunities that pay off early participants with money from newcomers, not from returns on legitimate stock or bond holdings. Mr. Madoff, once a highly respected member of the Wall Street establishment, has admitted to defrauding investors of as much as $50 billion in such a manner. When asked by the agents who arrested him if he could explain what he'd done, he reportedly said, "There is no innocent explanation."

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Follow The Money: Madoff, Mossad, AIG and 9/11

The Madoff investigation is very similar to the 9-11 investigation in that evidence of a larger conspiracy is being avoided and ignored. It is possible that the billions that Madoff stole, and is still unaccounted for, was being used to finance Israel’s vast global spy and sabotage network Mossad with connections to both AIG and quite possibly 9/11 itself

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The Difference Between Gordon Brown and Bernie Madoff? - Jail!

What's the difference between Bernard Madoff and Gordon Brown? Answer: one has drained fortunes from gullible victims, plundering their income and savings to create an illusion of prosperity. The other is going to jail.

Mr Madoff has thrown in the towel. His Ponzi scheme, whereby he needed to suck in ever greater quantities of other people's money in order to maintain a semblance of competence, collapsed under the weight of undeliverable expectations. Nobody knows for sure how much has gone missing, but Wall Street scribes are calling it a $65 billion fraud.

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Madoff Goes to Jail After Guilty Pleas to All Charges

When Bernard L. Madoff entered a federal courtroom in Manhattan on Thursday to admit that he had run a vast Ponzi scheme that robbed thousands of investors of their life savings, he was as elegantly dressed as ever. But, preparing for jail, he wore no wedding ring — only the shadowy imprint remained of one he has worn for nearly 50 years.

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Anti Defamation League Calls 'Smash-Me Bernie' Figurine Anti-Semitic

No sooner than a toy manufacturer introduced its 'Smash-Me Bernie' Madoff Doll at a toy fair in New York this week did the ADL's Abraham Foxman spring into action.

The ADL just issued this press release. The smashing of Jewish figurines is anti-Semitic regardless of how heinous the figurines underlying crime happens to be.

If figurine hate is allowed to stand the next thing you know the toy hate industry will be introducing 'Smash-Me Ehud', 'Smash-Me Bibi', and Smash-Me Ariel dolls. This is just unacceptable. What's next Gas-Me Dershowitz and Foxman dolls?

Congress is expected to unanimously vote in favor of Aipac sponsored toy hate crime legislation later this morning.

Liberal White Boy