Another Victim of the Recession

[JayHawk]

A catchy title for a catchy fraud. I wonder if this guy would have floated if no one would have demanded their money back. The article says no one ever worried because the SEC investigated and found no worng doing and that they always got their check in a couple days if they requested money out of their investment. Poor guy, the recession got him too.

This Ponzi scheme will do untold damage to our investment appeal across the globe. This makes it impossible for our Congress not to increase the regulatory presence of our govt. Looks like Spainish banking investors in for 3 billion. I read that a MA charity lost its 7 million dollar endowment and will be closing its doors. This was not the "Confidence builder" we needed.

According to a criminal complaint filed with the court, Madoff told senior employees of his firm Wednesday that he had blown more than $50 billion with fraudulent financial moves, that he was "finished" and that he had "absolutely nothing." The FBI said Friday that family members turned Madoff in after he confessed his fraud to them.

Spanish investors could have up to 3 billion euros ($3.98 billion) of exposure to funds managed by Wall Street trader Bernard

The collapse of Mr. Madoff’s firm is yet another blow in a devastating year for Wall Street and investors. While Mr. Madoff’s firm was not a hedge fund, the scope of the fraud is likely to increase pressure on hedge funds to accept greater regulation and transparency and protect their investors.

 

[smelter]

^ Nor was the Republican cunts playing "let's fuck the American workers" at the expense of the US economy when they shot down the bailout of Big Three.

All those traitors, all those Republicunts should be lined up and shot, every last one of them.

Union busting ..... their hero Ronnie Reagan is still alive and well!

 

[smelter]

Draft dodger Rhonda? Yeah, well, he was a real piece of Republican shit, wasn't he? That little coward.

Careful GA, you're talking about Sean Hannity's god here!

 

[JayHawk]

Wow completely off topic from the word go. Ok I can play.

First of all the demands by the republicans for more control instead of the Czar idea that allows the govt to make suggestions and force ch 11 in march is an absolute must. Lets not be idiots as we try and appear intelligent around here at JUB. Take AIG as just one example. I could get into BOA and Citi examples but I dont wanna confuse you.

AIG took the cash from our govt then promptly took holidays to think about it that cost more than most of our yearly incomes per person. Next since the govt put no teeth in their demands and worded the restriction against bonuses for execs as "Bonuses" AIG took that as permission to provide cash rentention awards that look strikingly like bonuses but they are not called that...

And you fools want less control over your cash?

Really?

 

[smelter]

Wow completely off topic from the word go. Ok I can play.

First of all the demands by the republicans for more control instead of the Czar idea that allows the govt to make suggestions and force ch 11 in march is an absolute must. Lets not be idiots as we try and appear intelligent around here at JUB. Take AIG as just one example. I could get into BOA and Citi examples but I dont wanna confuse you.

AIG took the cash from our govt then promptly took holidays to think about it that cost more than most of our yearly incomes per person. Next since the govt put no teeth in their demands and worded the restriction against bonuses for execs as "Bonuses" AIG took that as permission to provide cash rentention awards that look strikingly like bonuses but they are not called that...

And you fools want less control over your cash?

Really?

You Republicans took care of your own .... bankers, brokers and insurance companies and now you want to take it out on the working man by busting the unions to complete the circle. Are you fucking kidding me!

 

[JayHawk]

Yep thats it. Wow your smarter than me. US republicans or rather more accurately conservatives about threw up when the 700 billion was given away while the Democrats cheered. The current lackies in office didnt say a word or put any restrictions on it. As I recall neither did the HANCOCK of the left.....nope Baruch Hussein O'bama didnt say a word.

 

[smelter]

Yep thats it. Wow your smarter than me. US republicans or rather more accurately conservatives about threw up when the 700 billion was given away while the Democrats cheered. The current lackies in office didnt say a word or put any restrictions on it. As I recall neither did the HANCOCK of the left.....nope Baruch Hussein O'bama didnt say a word.

I never said I'm smarter than you .... it just pisses me off that the Republican Senators are playing politics now and I hope it comes back to bite them in their collective fat asses!

 

[JayHawk]

It is not politics. How many Americans believe in the bailout???? an overwhelming amount want to let these fuckers fails for being idiots. Why isnt Ford asking for immediate aid? Maybe because they werent idiots and padded their position instead of simply planning on America doing it for them.

It seems America thinks the same thing about the Auto thieves.

The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.

 

[bigred_ii]

Like the politics that have been played for the last 2 years haven't helped (tremendously) contribute to where we are now. It is ALL of their faults...and high time we had term limits and got those who have been in there for decades out.

 

[smelter]

It is not politics. How many Americans believe in the bailout???? an overwhelming amount want to let these fuckers fails for being idiots. Why isnt Ford asking for immediate aid? Maybe because they werent idiots and padded their position instead of simply planning on America doing it for them.

It seems America thinks the same thing about the Auto thieves.

I don't like the bailouts any better than you do, but to say this latest vote from the Republican Senators is not politics, is just plain bullshit!

 

[bigred_ii]

Oh, yeah, and all they were asking the UAW to do was allow the big 3 to bring total per employee labor costs in line with those of US workers WORKING IN THE US for foreign auto companies. The recent election seemed to be all about being "fair", and this would fall under that category.

 

[JayHawk]

I couldnt agree more about the politics of those in office and term limits. However term limits have already been stricken by the supreme court. It would be a law that imposes more restrictions on the Senate than the constitution they argue. I imagine you would have to pass an amendment given that precedent. And passing an amendment to put themselves out of work will never happen amongst those narcissistic bastards.

 

[JayHawk]

After the conduct of the 700 billion dollar bailout that has language that reallly means our commitment is somewhere around 6 trillion, I have no problem with very harsh controls on who gets bailout money.

 

[bigred_ii]

Unless the people can get together and actually get enough support for a Constitutional Convention. If that happens and is successful, the Congress has no choice or power to stop it.

 

[White Eagle]

Well, my Repug Senator, Cronyn, says he is gonna get back that money AIG spent on the spa.
And he is gonna make sure they don't use the money for bonuses. Anyone wanna bet?

 

[JayHawk]

Wow since polls show America hates the bailout and since your logic is free money to corporations is loving america then your statement above really just reflects yourself.

 

[smelter]

Wow since polls show America hates the bailout and since your logic is free money to corporations is loving america then your statement above really just reflects yourself.

Oh get off it! It just seems strange that backbones are magically regrown when it suits the agenda of the Reaganites to finish off organized labor. Very odd indeed!

 

[JayHawk]

No I pretty much knew it would go through but oppoesed the free giveway before and the money before had dick all to do with Unions.

But why hang your hat on truth when you can avoid it. Oh shit I forgot you are an Obama Girl.

 

[smelter]

Oh shit I forgot you are an Obama Girl.

I come from a long line of Rosie the Riveters and am proud of it.

 

[JayHawk]

Well I can understand your bias but I still think they need to have some common sense with the rest of the bailouts they hand out. Otherwise there is no point in doing it because the businesses will ultimately fail.

Basic Business 101. Most businesses fail to make paradigm shifts that are necessary to last. We are essentially forcing those changes.