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Madoff Sentenced to 150 Years for Fraud!

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posted on Jun, 29 2009 @ 04:48 PM
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reply to post by Crakeur
 


You're quite welcome Sir, glad to help




posted on Jun, 29 2009 @ 06:14 PM
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Not good enough...I think they should have simply handed him over to the people whose money he stole.
My sister's Father in Law (Upstate NY area) was one of them...years of labor and investments and now in his 60's,he has nothing.
He's gone back to work part-time for the construction company he was part-owner of "back in the day" with absolutely nothing in reserve anymore.
Let him and all those others who are in similar positions deal out his "justice."



posted on Jun, 29 2009 @ 06:30 PM
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reply to post by irishchic
 


Yes it seems that nothing will suffice the crimes he has committed.
I realize that many investors might have known something was suspect...but many did not. Many folks had no knowledge, and perhaps only the fund manager knew.

Although, I will have to say that I would have turned red if they had let him off easy.

Now, I want the Fed audited! I know it might not happen, but anyone interested in that can find out how to get on the wagon here!

Protest

Red Alert Issues



posted on Jun, 29 2009 @ 07:58 PM
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Did he say sorry after the sentence.
In any case his wife said I don't know that terrible man.

Acting alone shows the power of a single executive like a
Obama or Bush.

Some of the 50B many have been recirculated in payouts but that
seems rare from all the zeroed out testimony

I always wondered where one invests one million in one fell
swoop. But thats not how its done. There are in between savings
for a build up.



posted on Jun, 29 2009 @ 08:21 PM
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I give Madoff or is it "Made Off" 4 or 8 years tops. When Obama leaves office at either of 4 or 8 years he will more than likely pardon him. Mind you he could also be dead before 8 years are up.



posted on Jun, 29 2009 @ 08:35 PM
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I'm with the poster who mentioned public flogging and hanging from the gonads, but in light of the whole 'cruel and unusual punishment' thing, I'll settle for this. I would also like to dedicate this song to Mr. Madoff:




posted on Jun, 29 2009 @ 09:08 PM
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I just thought of what if.

The investors were not so greedy and invested like the rest of us
the stock market would have been a lot higher over the years
and avoided the 'toxic' assets by investing in real assets.

Always avoid no assets like ENRON.



posted on Jun, 29 2009 @ 10:37 PM
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off-topic post removed to prevent thread-drift


 



posted on Jun, 29 2009 @ 10:47 PM
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posted on Jun, 29 2009 @ 10:52 PM
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off-topic post removed to prevent thread-drift


 



posted on Jun, 29 2009 @ 10:54 PM
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The 150 years was a message to others who may be tempted to follow in his footsteps.

Now, if they can just find a roommate named Bubba who weighs 300 pounds and is still in his mid-twenties . . .

It'll be worse than a daily beating without testes.



posted on Jun, 29 2009 @ 11:04 PM
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Bernie Madoff took the fall for a lot of people - in my opinion. As posted earlier, one man did not pull this off by himself. One lesson I learned from this is if I have an investment making all kinds of money, when all similiar investments are losing money, start taking a hard look at what's going on. There were a lot of people screaming bloody murder about Bernie Madoff for years, but no one would listen because too many people were making money. This whole charade didn't just recently come to light. There were others who figured it out years ago.



posted on Jun, 29 2009 @ 11:15 PM
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reply to post by Tippys Dad
 


Oh yeah this was going on for a while...

Harry Markopolos delivered the largest Ponzi scheme in history to the SEC
and the SEC ignored repeated warnings, from 2000 to 2008. Henry said the SEC is "captive to the industry" and was "afraid of Mr. Madoff."







posted on Jun, 30 2009 @ 01:30 AM
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reply to post by whaaa
 
Madoff's lawyers will eventually have them commute the sentence somehow there is no way the Wall Street TPTB will let a former nasdaq chairman serve the maximum sentence not with the lingering threat of him deciding to name names.



posted on Jun, 30 2009 @ 07:53 AM
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Originally posted by TeslaandLyne
I just thought of what if.

The investors were not so greedy and invested like the rest of us
the stock market would have been a lot higher over the years
and avoided the 'toxic' assets by investing in real assets.

Always avoid no assets like ENRON.


While I don't have 100% sympathy for the investors (more than a minority had to have had a clue and anyone who invested in non-retirement accounts was using that money), it should be pointed out that, in their minds they were invested in the stock market. Madoff's statements showed plenty of transactions each month. Stocks - known stocks. He was claiming to invest in real companies and the investors, presumably, believed they were invested in the stock market.

reply to post by mike dangerously
 


nobody will help this guy. He's a sociopath and he's toxic. Anyone who goes near him will be deemed toxic too. Just look at the feeders, the hedge funds and the other investment advisors who put money in madoff, they're all going to be under investigation and most of them will wind up without investors.



posted on Jun, 30 2009 @ 03:06 PM
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Today, word has it there will be charges brought against 10 more people.



[edit on 30-6-2009 by burntheships]



posted on Jun, 30 2009 @ 04:01 PM
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reply to post by burntheships
 


I'm hearing 17 more. All of them are in the picower class of investor - carl shapiro is rumored to be amongst them.

www.abovetopsecret.com...



posted on Jun, 30 2009 @ 04:28 PM
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reply to post by Crakeur
 


Ah...follow this...
www.sptimes.com...

www.nytimes.com...

and this illuminating map of the money flow...
www.muckety.com...

Once at the last link...double click on the + by the names, and the chart opens up. Lights on...

[edit on 30-6-2009 by burntheships]



posted on Jun, 30 2009 @ 04:35 PM
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reply to post by burntheships
 


wow, Picower lost money with Boesky AND Madoff? Interesting. I wonder if this guy wasn't losing money with the cons but, instead, financing them.

something to ponder



posted on Jun, 30 2009 @ 04:41 PM
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reply to post by Crakeur
 


Yes money got buried deep...


One company was named Cytokine Networks, and it was owned by Picower's nonprofit organizations, to which any profits from the sale of a potential blockbuster drug like CNI-1493 would flow. Cytokine Networks originally held the license to CNI-1493 and other discoveries.....

.....Picower's stake in the merged company is hard to assess because the company is not publicly traded. However, a Merrill Lynch report once valued Picower's shares as high as $67-million.

These are the shares Picower pledged, but has not yet given, to charity.
www.sptimes.com...



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