If this doesn't sicken you, nothing will.....

[TommyHawk]

Quote from Aaron Copland:

This should wake you up.


http://www.natvan.com/free-speech/fs0203c.html

"Facts are Facts"
Benjamin H. Freedman

 

[tradersboredom]

Madoff and crew is the mafia.

another bigger organization(cia, fbi, nsa) other small time street hustlers a shut down madoff's operation.

Quote from Brandonf:

I really don't have any knowledge of this topic, so please forgive any ignorance here..but it seems to me that the mafia has lost a lot of power since the 1980', that the most powerful bosses all have gotten arreested, no one that's any good wants leadership positions and they all turn on each other as soon as things start to look a little uphill. It also seems as though they don't really kill nearly as many people..I know there was that Union president a few years ago that disapeared in the middle of his trial because I guess the mob wanted him to settle and not go to trial or something..but do they really have the power to do this type of stuff? And with most of the Unions having massive Federal oversight now do they still have that kind of pull with the unions. I'm just a country hick from Iowa, so forgive me if this is totally ignorant, but I guess I just thought that other groups (russians, colombians, albanians etc) were taking over and muscling out the Italian Mafia.

 

[IanMacQuaide]

Even if the individual union retirees are left alone, if the Union's Pension Fund is subject to "Clawbacks", that could threaten the very existence of the Pension Fund, leaving retirees busted, and future retirees bereft of any retirement fund at all.

 

[Brandonf]

Quote from IanMacQuaide:

Even if the individual union retirees are left alone, if the Union's Pension Fund is subject to "Clawbacks", that could threaten the very existence of the Pension Fund, leaving retirees busted, and future retirees bereft of any retirement fund at all.

It seems to me that this clawback stuff is what is really gonna screw the pooch. Once people fully understand what it means there is gonna be a major hit in investor confidence in the stock market as a viable way of saving for retirement IMHO.

 

[Mr Pain]

Quote from Champion:

Its not a question of whether Madoff is Jewish or not. Any disgruntled investor in the Madoff scam could possibly find an opportunity to shoot him down and no one is going to regret that that smug smile on Madoff's big wide mug has been blown away for good.

Also its possible that Madoff may yet bump himself off.

His big risk is his family. I know someone aware of a situation. Madoffs grandchildren are in school with classmates whose families have lost money on his scheme. It has not been hugs and kisses.

I also doubt that some of the South American and possible eastern European folks who lost money because of him will forget this. If I was his family I would be changing my name and moving to a really out of the way place now if I had not already.

 

[IanMacQuaide]

Quote from Brandonf:

It seems to me that this clawback stuff is what is really gonna screw the pooch. Once people fully understand what it means there is gonna be a major hit in investor confidence in the stock market as a viable way of saving for retirement IMHO.

Good point.
Most of the public won't really "get it", they'll just come away thinking that if you invest in ANYTHING you might
1. Lose it all
2. Have to give back what you lost

 

[efficiency]

Quote from Sniemiec:

Should be locked up for a long, long time. What a filthy sleeze bag.

Sleeze bag, or is it sleaze bag?

The concept of social security is by far a much BIGGER ponzi scheme. Both dollar magnitude and numbers. Impacts far more people, who incidently, have NO choice in being a participant (both entering the game or witdrawing from it).

And that's in nominal terms.

Now, asjust it for inflation and stir. Or is it rinse and repeat?

Better yet, let's change the game and raise the age of majority to 68 and/or indicate inflation is benign to keep the COLA from kicking in.

In fact you're a participant. So am I.

 

[Diamond Geezer]

Interesting Mr. Pain

I read somewhere recently that his safest place right now is prison. That gels with what you are suggesting. Indeed many of his investors were Latin Americans with undeclared assets and income and they are not coming forth with the fact that they lost money because it was undeclared.

Yes I think these people have an alternative view on how to render justice than the nicety of the US judicial system.

On a separate point. He is allowed to continue house arrest after attempting to transfer millions of dollars of valuables such as jewellery and heirlooms which is in violation of his bail order?

The system favors crooks - cheat and I've got 90% chance of winning and 10% chance of getting caught and punished. Great risk-reward. A trader would love those numbers

 

[Sniemiec]

Quote from efficiency:


Now, asjust it for inflation and stir.

Asjust or adjust?

Social security exists to help lower income people, however the entire system is corrupt and taken advantage of.

 

[Mr Pain]

Quote from Diamond Geezer:

Interesting Mr. Pain

I read somewhere recently that his safest place right now is prison. That gels with what you are suggesting. Indeed many of his investors were Latin Americans with undeclared assets and income and they are not coming forth with the fact that they lost money because it was undeclared.

Yes I think these people have an alternative view on how to render justice than the nicety of the US judicial system.

His famliy is at real risk as they are not under arrest, or at least yet.

There is no excuse for him not being in prison. I liked the other poster who suggested water boarding to get him to give up the location of the stolen money.