ET Post from THREE YEARS AGO was: SEC investigating MADOFF FINANCIAL?

Quote from RetailBuilder:

It was reported this morning.

http://www.reuters.com/article/bondsNews/idUSN1553342920081216

"In New York, the nonprofit Philoctetes Center for the Multidisciplinary Study of the Imagination lost all of its funding, its co-director Francis Levy told Reuters. The group, which focuses on fostering innovation, may shut."

It has been / is being reported from many other sources as well.
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thanks for the link.

good profit to you,

surf
 
HI !

One needs to ask and answer the question,
Who is Bernard Madoff ?

Highly connected, former Nasdaq Chief,
at a time when the Nasdaq was guilty of
great crimes, remember the investigations,
the fines and other penalties of 1997.

He ripped off many Jewish organizations
and their charitable funds, by the billions,
the whole Jewish community is shocked.
http://www.haaretz.com/hasen/spages/1046187.html

Madoff was also heavily involved in
the Jewish Lobby,
AMERICAN JEWISH CONGRESS,
a Jewish Univiersity,

Information on all of this is everywhere.

Where did the money go ?

Where was compliance ?

Rival Market Makers on Nasdaq
reported him in 1999 ?

WTF IS RIGHT !

The guy is highly connected.
With a lot of powerful allies.
 
.
Who is Bernard Madoff?
http://www.wakeupfromyourslumber.com/node/9514

305386566_259445bbca_m.jpg


WHERE DID THE MONEY GO?

So who is Bernard L. Madoff? Apart from running his "investment company" and being a former chairman and director of the National Association of Securities Dealers (NASDAQ), Madoff is a very committed Jewish Zionist who has served as the treasurer of two leading Zionist organizations. Like Richard Fuld of Lehman Brothers, Sanford Weill of Citibank, and Maurice Greenberg of A.I.G., the major culprits behind the $2 trillion bail-out, Madoff is another New York Zionist Jew who has committed a massive financial fraud and cheated Americans and others out of untold billions of dollars.

Madoff is a former national treasurer of the American Jewish Congress (AJC) of New York City, one of the major fund-raising organizations for the state of Israel. Founded by the Hungarian Zionist rabbi Stephen S. Wise, the AJC claims to be "the first Jewish Defense Agency to support the establishment of a Jewish state" and boycott Germany in the 1930s. Wise was a Zionist who had been trained at the Jewish Theological Seminary in New York City, where Michael Chertoff's rabbi father and grandfather also studied and taught.

Madoff is also the treasurer of Yeshiva University, a private Jewish university in New York City, where he is chairman of the board of the university's business school, the Sy Syms School of Business, which he has endowed with large donations, from his "Ponzi" scheme no doubt.
 
THE NASDAQ, "market of the future",
where they rape you.

Some of you lads may not be familiar
with the Nasdaq scandal of the 1990's.
Plead deal, $1.7 Billion fine, SOES
opened up to public as punishment,
became Nasdaq Level 2 for retail
customer.

Madoff Charged in $50 Billion Fraud at Advisory Firm (Update3)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGQSr_LRM_.8&refer=worldwide

By David Glovin and David Scheer

Dec. 11 (Bloomberg) -- Bernard Madoff, founder and president of a New York firm that invested funds for wealthy individuals, hedge funds and other institutions, was charged with operating what he told employees was a long-running $50 billion Ponzi scheme in what may be one of the largest frauds in history.

‘One of The Pioneers’

“He’s one of the pioneers of modern Wall Street,” said James Angel, an associate business professor at Georgetown University in Washington. Madoff’s firm was among the first to automate market-making, in which a dealer continually buys and sells stock. The company was among the largest to offer “payment for order flow,” or paying to handle customer orders.

Bernard Madoff served as vice chairman of the National Association of Securities Dealers, a member of its board of governors, and chairman of its New York region, according to the SEC Web site. He was also a member of Nasdaq Stock Market’s board of governors and its executive committee and served as chairman of its trading committee.

He was chief of the Securities Industry Association’s trading committee in the 1990s and earlier this decade, where he represented brokerage firms in discussions with regulators about new stock-market rules as electronic-trading systems and networks gained prominence.

He was an early advocate for electronic trading, participating in roundtable discussions at the SEC as regulators weighed trading stocks in penny increments. His firm was among the first to make markets in New York Stock Exchange listed stocks outside of the Big Board, relying instead on Nasdaq.

‘Third Market Makers’

“These guys were one of the original, if not the original, third market makers,”
 
1999

Quote
"Madoff Securities is the world's largest Ponzi Scheme," Mr. Markopolos wrote in a letter to the U.S. Securities and Exchange Commission in 1999.

Mr. Markopolos pursued his accusations over the past nine years, dealing with both the New York and Boston bureaus of the SEC, according to documents he sent to the SEC reviewed by The Wall Street Journal.

Fees, Even Returns and Auditor All Raised Flags
By GREGORY ZUCKERMAN
DECEMBER 13, 2008
http://online.wsj.com/article/SB122910977401502369.html?mod=article-outset-box

How did Madoff survive the late '90's
Nasdaq Investigations which were huge ?
 
<div class="node-heading">
<h2 class="entry-title"><a title="Is There A Bigger Story Behind Spitzer's Downfall?" href="http://crooksandliars.com/susie-madrak/there-bigger-story-behind-spitzers-do">Is There A Bigger Story Behind Spitzer's Downfall?</a></h2>
<span class="entry-date">By Susie Madrak Tuesday Dec 16, 2008 9:00am</span></div>
<div style="clear: both;" class="content">
<p><a href="http://skimble.blogspot.com/2008/12/killing-watchdog.html">Via Skimble</a>, a most interesting theory:</p>
<blockquote>
<p>I have yet to see this reported anywhere, but <a href="http://www.elitetrader.com/vb/showthread.php?amp;threadid=61866&amp;perpage=6&amp;pagenumber=1">an anonymous commenter named trademonster on an investment forum said this</a> (<strong>notice the dates</strong>):</p>
<p><em> 01-09-06 06:49 AM<br />
I've heard that SEC is going to shut down Madoff financial and all of their hedge funds for SEC violations. Can anyone confirm this?</em></p>
<p>And <a href="http://www.elitetrader.com/vb/showthread.php?amp;threadid=61866&amp;perpage=6&amp;pagenumber=3">this:</a></p>
<p><em>01-14-06 02:52 PM<br />
I actually got some update and found out that <strong>it's Spitzer's office doing the investigation not SEC</strong>. But I don't know what the scope of the investigation is.</em></p>
<p>Suddenly Spitzer's dalliances with a hooker don't seem quite as fundmentally important to the financial health of this country.</p>
<p>We need people who understand the system to police it. No matter how sanctimonious or egomaniacal you may find him, Spitzer understands the financial system. <strong>If these posts are true, somebody in power was more interested in the the details of Eliot Spitzer's transactions than Bernard L. Madoff's. They were obviously more interested in killing the watchdog than in catching the billionaire burglar.</strong></p>
</blockquote>
<p>And <a href="http://www.correntewire.com/warrantless_surveillance_stellar_wind_data_took_down_elliott_spitzer_and_very_nicely_timed_was_too">via Corrente</a>, something <a href="http://www.newsweek.com/id/174601/page/3">even more interesting</a> from Michael Isikoff's Newsweek story about the FISA whistleblower:</p>
<blockquote>
<p>[Under the secret and illegal &quot;Stellar Wind&quot; program of domestic warrantless surveillance,] NSA was also able to access, for the first time, massive volumes of personal financial records&mdash;such as credit-card transactions, wire transfers and bank withdrawals&mdash;that were being reported to the Treasury Department by financial institutions. These included millions of &quot;suspicious-activity reports,&quot; or SARS, according to two former Treasury officials who declined to be identified talking about sensitive programs. <strong>(It was one such report that tipped FBI agents to former New York governor Eliot Spitzer's use of prostitutes.)</strong> These records were fed into NSA supercomputers for the purpose of &quot;data mining&quot;&mdash;looking for links or patterns that might (or might not) suggest terrorist activity.</p>
</blockquote>
<p>Lambert <a href="http://www.correntewire.com/warrantless_surveillance_stellar_wind_data_took_down_elliott_spitzer_and_very_nicely_timed_was_too">asks an important question</a>: How <em>did</em> the suspicious activity report on Spitzer's financial transaction get from the NSA to the FBI?</p>
<p>He also notes the convenient timing, because Spitzer at the time was <a href="http://www.nycapitolnews.com/news/126/ARTICLE/1203/2008-04-14.html">looking into the monoline insurance companies</a> - another important piece of the Wall St. crash.</p>
<p>Was the Bush administration using illegally obtained information to take down political enemies? Oh, I think it's a safe bet. And do you suppose they were deliberately trying to keep Spitzer from exposing extensive Wall St. fraud?</p>
<p>What do <em>you</em> think?</p>
</div>
 
...People in the industry continue to question Fairfield’s due diligence. Michael Markov, a hedge fund consultant, said that he was hired by a fund two years ago to look into Fairfield Sentry’s returns and found that it was “statistically impossible to replicate them,” he said.

Mr. Markov said that he found only one hedge fund whose returns correlated to Mr. Madoff’s. That was the Bayou fund, which was prosecuted by the government for fraud in 2006...
 
Quote from ipatent:

. And do you suppose they were deliberately trying to keep Spitzer from exposing extensive Wall St. fraud?</p>
<p>What do <em>you</em> think?</p>
</div> [/B]
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I already said as much here on ET, and you didn't need this scandal to figure out they wanted Spitzer out of the way
 
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