Is everyone wrong about market response to Madoff?

[FanOfFridays]

Quote from golfbarron:
Is anyone else enjoying reading about this as much as I am? All those "wealthy" good folk who thought they were "it" with all their money.

What makes you think the wealthy folks invested in hedge funds thought they were 'it'?

Don't bother, I'll answer for you. You believe that all wealthy people think they're 'it'.

Now that I think about it, I guess this makes some sense. Let's face it. Compared to you, they are.

 

[mahram]

the question is 50 billion is now gone from the system. And positions held by these rich investors used to secure other stuff, and so on and so on will spread throughtout the system. i think as this weekend goes on and people go throught their books, and see how much this is connected to other things, its going tobe pretty big. Its kind of like the subprime thing, who would have thought it could have spread so far.

Quote from traderNik:

What makes you think the wealthy folks invested in hedge funds thought they were 'it'?

Don't bother, I'll answer for you. You believe that all wealthy people think they're 'it'.

Now that I think about it, I guess this makes some sense. Let's face it. Compared to you, they are.

 

[flytiger]

I'm working on getting prominent Jewish Americans, folks whose community was damaged by a corrupt and captured SEC, to help me force immediate change. So far, I have had some success.

Many prominent people read these threads; some PM's I have received have been very instrumental to investigator types.

If anyone reading this can/will help, please PM me. I will warn you. You may be in direct dealings with enforcement types. If that bothers you, I ask you to get over it. It's time to clean up DC. But if you can help in our endeavour, now is the time.

Again, I want prominent Jewish Americans, or their organizations, particularly charities, to help us lobby for immediate change of the regulatory system.

And I take no joy in peoples' lives being destroyed either, Susannah.

 

[swtrader]

from wikipedia

Personal history
Madoff was born in 1938 to a Jewish family

http://en.wikipedia.org/wiki/Bernard_L._Madoff

cant believe they let this guy out on bail

good chance he's got money stashed all over, and a complex getaway plan on standby

"Alleged victims and impact on them
A number of Jewish charities was severely affected by Madoff's indictment. The $8 million Boston-based Robert I. Lappin Charitable Foundation, which had the bulk of its money invested with Bernard L. Madoff Investment Securities, closed its doors and terminated its seven staff members. The 16-year-old charity's stated goal had been "reversing the trend of assimilation and intermarriage","

reversing the trend of assimilation and intermarriage?

but I thought Jews LOVED diversity? I'm confused - they dont want it for themselves?

this guy broke rule number 1 - 'dont screw other jews'

 

[Susannah]

flytiger, fwiw, I think the reinstitution of the trading collars for the index arb bots would have a lot more impact on manipulation of the market than reinstating the uptick rule would. Those things push the market around like crazy, and currently, there's no regulation on them, it was lifted last October. I'm sure most of them are owned by the hedge funds. It takes specially designed hardware to do stuff like that.

 

[Illum]

I will say this for a "captured" Sec

It was one thing for the Sec to ban shorting to protect the brokerages but.. When Citi was getting creamed a couple weeks back, they told the market "Hey we will have our stock put on a no short list."

I think that was on the Thursday or Fri before the government stepped in, so it became irrelevant.

But that statement made a noob like me sit back.

If it was the other way around... maybe the Sec comes out and says we will prohibit shorts on this or that, being punished beyond reason. I was against that too but w/e

But C coming out and saying that we are tight like that, was beyond ridiculous and shows me beyond any doubt, Capture.

 

[golfbarron]

Quote from flytiger:


And I take no joy in peoples' lives being destroyed either, Susannah.

Quote from Susannah:

But, some of them probably just worked really hard or got lucky and had a lot of money.

Quote from traderNik:

Let's face it. Compared to you, they are.

If a person's life gets destroyed because they lose money, they didn't have much of a life to begin with. I don't think any of you REALLY understand that. In fact I know you don't because you idiots don't know what life is in the first place.

Oh yeah lets hurry up and get the rules changed to save all our money, bla bla bla. That's what it's all about, the money to your kind. Money won't help you one iota in your final destinations.

Keep saving and working hard for your futures though, and keep living in your fantasy worlds until the real shit hits the fan. Then you'll really be a bunch of walking zombies.

 

[flytiger]

Quote from Susannah:

I'm sure most of them are owned by the hedge funds. It takes specially designed hardware to do stuff like that.

I do believe you are about to read some shocking information on the aforementioned.

This will now unwind at a terrible pace. Maybe so much so, that it will spin us into an abyss. I don't know. But the backlash from the public will force the regulators and the lawmakers to violently react.

You would not believe the stonewalling going on in DC. This should break the stalemate.

Cox is just a dick. I've never known anyone to treat Senators and Congressmen like he does and get away with it. Maybe, because he's done in a month, everyone has thrown their hands up. At least that's what I hear. But these idiots don't realize markets don't hang around for these morons to get their Christmas in.

And, as to golfnuts comment about money, this just in from Newsday:

The town of Fairfield, Conn., said it placed nearly 15 percent of its retiree pension fund with Madoff. Officials were scrambling to determine how much of the $42 million remained.

who cares if a bunch of garbagemen can retire? They'd just piss it away on food and clothing anyway. What kind of a life is hauling Garbage? So, who cares if they can't retire, or buy the necessities of life. I think I'll call them up, tell them not to worry. They're going to die anyway.

Dumbest post I've ever seen. And there've been more than a few.

 

[swtrader]

Quote from golfbarron:

If a person's life gets destroyed because they lose money, they didn't have much of a life to begin with. I don't think any of you REALLY understand that. In fact I know you don't because you idiots don't know what life is in the first place.
.

you are a coplete pin head, and aparantly have no concept of what it means to have responsibilities to other people, which incidently, is part of life

money is the store of sacrifice away from the family, to be given back to it

when large amounts of money is lost, lives change. secure people fall into poverty. people who would have been cared for, die.

i would never let someone with your attitude handle anyone elses money

 

[spinn]

Quote from flytiger:

I'm working on getting prominent Jewish Americans, folks whose community was damaged by a corrupt and captured SEC, to help me force immediate change. So far, I have had some success.

Aren't almost all of the people guilty of these recent acts Jewish?

If I were Jewish....I would be ashamed, not trying to make myself out as a victim of the SEC.