The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multiculturalis

Jeronimus

Jeronimus

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As a native of the New England, I have seen arrogant, limousine liberal elite types up close, mostly in my college years. Their big weakness is their strutting hubris and moral certainty. They truly view themselves as gods or angels on earth.

They live on residual capital; trust funds, foundation grants, and paychecks from "well endowed" colleges and universities. Two prominent examples would be the highly eccentric Noel Ignatiev
nignatiev.jpg
who had the chutzpah to say "the white race must be abolished." Here's a blurb about Noel Ignatiev:

Noel Ignatiev
Writer and Historian
Du Bois Institute, Harvard University
Visiting Associate Professor
Bowdoin College

Notice something? He doesn't have to work for a living. He lives on residuals.

Another example would be Tim Wise.
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White Like Me by (((Tim Wise)))

Here's how Tim Wise makes a living:

Wise has spoken in 48 states, and on over 400 college campuses, including Harvard, Stanford, and the law schools at Yale and Columbia, and has spoken to community groups around the country. He has trained corporate, educational, government, military and law enforcement officials on methods for dismantling racism in their institutions.

In other words, he is paid "honoraria" for speaking at these colleges. The money for the honoraria comes from, you guessed it, the residual capital of endowments and foundations. He also writes books which tens of thousands of hapless college students are forced to purchase and assigned to read.

Both Ignatiev and Wise rail against capitalism, claiming to be the "true saviors" of all people by dismantling capitalism and racism. Whites who acknowledge that they have ethnic interests are the enemies of humanity, or at best "useful idiots" of evil capitalism by failing to "unite" with other races.

It's a huge scam, of course. The only source of legitimacy for the scam is the river of money poured into it, a river which is drying up as Growth Capitalism screeches to a halt, and begins to slide backwards. Tim Wise and Noel Ignatiev will get their alleged wish after all! The death of capitalism in their lifetime! Perhaps they will be very happy to be able to congratulate themselves on a job well done, accept the end of their jobs as "professional writers, speaker, and historian," and now they can pick up hammers and sickles and work for the bright future united with the wonderful people of color that they allegedly love so much (at a distance).

Which brings me to two recent stories. One of Ignatiev's gigs is Harvard. Here's some recent news about Harvard's source of residual capital:

http://www.bloggingstocks.com/2008/...nt-loses-8-billion-how-will-colleges-survive/

Harvard reports that the value of its endowment has declined $8 billion between the end of June 2008 through October 2008. That would make Harvard's endowment worth 22% less than at the end of June, or $26.9 billion -- but it probably has further to fall thanks to illiquid assets like private equity interests. Meanwhile, Harvard and its peers could be in trouble because fewer people will be able to afford college given the market crash. That will mean college administrators are facing some tough choices.

Harvard is responding to the decline in its endowment by taking a "hard look" at staffing levels and compensation. It is forecasting a 30% drop for its endowment ending in June 2009, which would bring it to $25.8 billion, down another $1 billion. While this strikes me as optimistic, it does suggest the extent of the damage and the challenges Harvard and its peers face.
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How will Harvard survive indeed? Might it have to lay off some anti-racist professors? Perhaps there will be fewer hapless college students reading Tim Wise's books? Instead, these would be college students will be finishing high school and trying to figure out how to survive in the post-growth world.

Here's another big piece of news, the fall of Bernard Madoff:

http://www.boston.com/business/pers...8/12/14/financiers_alleged_swindle_confounds/

In the end, Bernard L. Madoff took back the fortune he helped Carl Shapiro build.

Shapiro is a Boston philanthropist and former women's clothing merchant who has lost at least $145 million in his family's charitable foundation - and probably much more of his personal wealth - at the hands of his old friend Madoff, who last week confessed to swindling $50 billion from wealthy investors.

Shapiro, 95, made a fortune by selling his Kay Windsor Inc. clothier to Vanity Fair Corp. in 1971. Dubbed the "cotton king" of the dress industry, Shapiro ran the business from New York's garment district and had a fabric-cutting plant in New Bedford, with revenues of $22 million in 1957. And he would amass multiples of that over the years, after entrusting his money to Bernard L. Madoff Investment Securities in New York.

Shapiro and his wife, Ruth, have given away hundreds of millions of dollars to Boston hospitals, museums, and universities over the years, and their foundation had $324 million at the end of 2007. And that's not counting their considerable wealth beyond the charitable funds.

Around Boston and Palm Beach, Jaffe became the face of Madoff's business - the man who drew scores of wealthy investors, many of them prominent members of the Jewish community - to the investment firm.

But the fraud could leave Madoff's former clients with little chance of getting their money back. That includes the Shapiros and the Massachusetts state pension fund, which had $12 million invested with Madoff. Others who entrusted funds to Madoff include the Sidney R. Rabb Charitable Trust, one of two trusts run by the Goldberg family, which once owned the Stop & Shop supermarket chain. The Robert I. Lappin Charitable Foundation in Salem on Friday said it had to shut down because Madoff had lost all of its money.
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If you know what you are seeing in the above quote, you realize that it represents literally thousands of middle class liberals and jews and their easy income, which has just disappeared in a puff of smoke!:D The enemy has lost a large chunk of it's war chest overnight! Things are getting real interesting, folks.
 
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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Things are progressing very quickly. It's already a cliche, but the U$ and it's insane multicultism is a house of cards that is already in mid-fall.

There's too many of us for them to monitor and/or railroad into prison. Never trust cops of course, but the fact is a lot of cops are human too, and plenty of them don't like the multicult. I remember when I was in the Army in the 90's my sergeants were all hard core racists and were saying that the Nicole Brown Simpson got what she deserved. A lot of them were going to become cops and prison guards when they finished the Army career.

Madoff's Ponzi scheme was funding the enemy in a big way. This, along with the bankruptcy of the newspapers, is going to change the culture in a big way. There's not going to be the money to force "anti-racism" on all of us any more, and at the same time, the country is going to be in an economic depression and have no use for niggers or swindling, lying Right of Return Israelis.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

For decades this was heard.


Oh they are such smart business men "those jews" only TV headed idiots, or brain washed funnymentalist's will be uddering that tripe now IMO.

Whats left ?

A USSR type of regime from the first 40 years of that workers paradise? Keep those borders open on second thought.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

The Cargo Cult has been able to bring home the bacon (e.g. the bread and circuses) in a serious way since the end of the 2nd world war. It has actually been able to maintain a perpetually growing economy in this country, hence cementing its power. But even people over at, say, the Peak Oil type message boards who aren't White nationalists say that multiculturalism is going to fail as soon as the bread and circuses get cut off, which is happening RIGHT NOW, and there's going to be brutal civil conflict between the races.

I used to confront multiculturalists publicly, albeit using a conservative image. I never dressed in uniforms or associated with the Third Reich. But I would go to Town Hall meetings and ask why all this talk about black and Latino interests and no talk of White interests? I saw the multiculturalist enforcers up close and personal, and what I learned is simple:

They are the sum of their funding. That's all they are. No paycheck = no multiculturalist. It's not a volunteer movement at all.

When they are no longer funded, and accumulating multiculti credentials is no longer a path of career advancement in a growing economy, they will wither away.

What Madoff did was keep the illusion going for a year. All the stock market mutual funds lost money. He should have just admitted that he lost money, but he didn't. Instead, he used the money of depositors who weren't asking for withdrawals to make good on the faked accounts of people who were withdrawing. This is a good metaphor for the whole system. It's failing out from under them, but they are maintaing the illusion . . . just a little bit longer.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

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*

And hopefully the greatest transfer of human genetics in world history will begin to come to a halt!

Skara Brae

*Pen Godber
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

It's funny, that behind every financial swindling and/or scandal...there's a Jew!

These ugly Jew bastards!
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

'All Just One Big Lie'

Bernard Madoff was a Wall Street whiz with a golden reputation. Investors, including Jewish charities, entrusted him with billions. It's gone. :)

Deborah Coltin learned yesterday morning that the $8 million foundation she has led for a decade, which supported a wide range of Jewish programs on the north shore of Massachusetts, did not actually exist.

The foundation had invested its endowment with Bernard L. Madoff
, a storied name on Wall Street. Every year, Madoff paid out several hundred thousand dollars to the foundation. But on Thursday, Madoff was charged with securities fraud after confessing to his sons that his business was a Ponzi scheme, according to a complaint filed by the Securities and Exchange Commission. The returns paid to investors came from money invested by other people. And there was almost nothing left.

It may be the largest fraud in the history of Wall Street, authorities said. Madoff is charged with stealing as much as $50 billion, in part to cover a pattern of massive losses, even as he cultivated a reputation as a financial mastermind and prominent philanthropist.

Coltin, executive director of the Robert I. Lappin Charitable Foundation, said she spent the day at her office as a woman in mourning, taking condolence calls and trying to understand what happened.

"I laid off five people today," she said.

"Our foundation was the lifeblood of this community," she said.

"It's just very, very sad."

Madoff's investors included a number of prominent hedge funds and the firm of Fred Wilpon, the owner of the New York Mets. Several may have sustained billions of dollars in losses.

But the damage appears to be deepest in the small world of Jewish philanthropy, where Madoff was a leading figure. The North Shore-Long Island Jewish Health System said it lost $5 million. The Julian J. Levitt Foundation, based in Texas and focused on Jewish causes, lost about $6 million. Yeshiva University, a New York institution where Madoff served on the board, said it was examining how much money it invested with his firm.

Madoff's own $19 million foundation, which gave to a range of New York and Jewish causes, also was wiped out.

Ira Lee Sorkin, an attorney for Madoff, said Madoff's firm "is cooperating fully with the government."

"We're disturbed about these unfortunate events that have led to this," Sorkin said. He declined to say whether Madoff, who has been released on bail, will fight the charges.

Madoff, 70, made his fortune as a middleman between buyers and sellers of stock. He helped pioneer electronic trading as an alternative to the New York Stock Exchange, where buyers and sellers meet in person, and he eventually became chairman of Nasdaq, the first electronic stock exchange.

Madoff built himself into a brand. He came to Wall Street with money saved as a Long Island lifeguard and built a family business employing many relatives, including his sons, and refused to sell the business or take it public. He advertised his integrity.

"In an era of faceless organizations owned by other equally faceless organizations, Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner's name is on the door," the company's Web site said. "Clients know that Bernard Madoff has a personal interest in maintaining the unblemished record of value, fair-dealing, and high ethical standards that has always been the firm's hallmark."

By the late 1970s, and perhaps earlier, Madoff began managing money for investors, at least in part because he could require people to process trades through his firm. Madoff eventually attracted billions of dollars from investors. Some he knew personally. Others belonged to clubs he was a member of, including the Palm Beach Country Club in Florida and Glen Oaks Country Club in New York. Several large hedge funds invested with Madoff in part because he did not charge traditional fees, instead collecting money solely for processing trades.

The key attraction, however, was Madoff's remarkably successful track record. A hedge fund run by Madoff, which described its strategy as focused on shares in the Standard & Poor's 100-stock index, averaged a 10.5 percent annual return over the past 17 years.

This year, amid a general market collapse, the fund reported that it was up 5.6 percent through November, while the S&P 500-stock index fell 38 percent.

The SEC charged in its complaint that the returns were artificial. Madoff at some point started paying investors with money received from other investors, a Ponzi scheme, according to the SEC.

"Mr. Madoff lured investors to entrust him with substantial sums of money -- in some cases massive amounts of money -- with the false promise of great interest returns," said Mark S. Mulholland, a New York lawyer who filed a class-action lawsuit Thursday against Madoff. He said his firm has been approached by two dozen investors, who lost up to $90 million.

The SEC said it is not clear when Madoff started using new investments to create the appearance of profits. But the alleged ruse was finally exposed by the global financial crisis.

Madoff's investors had requested the return of about $7 billion by the end of the year, part of a broad trend in which investors are pulling massive sums from Wall Street. Madoff told one of his sons earlier this month that he was struggling to find the money. Then he told his other son that he was ready to pay annual bonuses to employees.

The sons confronted their father Wednesday, according to authorities, asking how the firm could pay bonuses if it couldn't pay investors.

Madoff asked them to come to his apartment, saying "he wasn't sure he would be able to hold it together" at the office, the SEC said. There he said he was "finished." The business was "a giant Ponzi scheme" -- "all just one big lie," the SEC documents said.

He estimated that his investors had lost $50 billion.

The sons reported Madoff to authorities. Yesterday, a federal judge placed the company in receivership at the SEC's request.

Outside analysts had raised concerns about Madoff's firm for years.

The company made its own trades and held the shares it bought, unusual practices that kept its activities hidden from view. Madoff also avoided filing disclosures of its holdings with the SEC; the firm said that at the end of every reporting period it sold its holdings and held only cash. Such a tactic is highly unusual because it exposes a fund to large losses by forcing it to sell assets without regard to price.

Madoff, though a pioneer of electronic trading, also refused to provide clients online access to their accounts.

"This was extremely secretive, even for the non-transparent world of hedge funds," said Jake Walthour Jr., head of advisory services for Aksia, a New York consulting firm that advised clients not to invest in Madoff's funds. "It was all done almost in fortress fashion to prevent anyone from knowing what was going on."

But a large number of investors apparently could not resist.

Robert Lappin started investing with Madoff in the early 1990s and eventually entrusted him with the entirety of his family foundation. The Lappin Foundation, created "to keep our children Jewish," gave about $1.5 million to Jewish groups in 2007, including a long-standing program that has paid for about 1,800 teenagers to visit Israel.

Coltin, the executive director, went to sleep Thursday night with an inkling of bad news and woke up at 6 a.m. yesterday, planning to call Lappin. Before she could, the phone rang.

"He said: 'I have to tell you this. Our funds are frozen,' " Coltin said

A little bit later, it became clear that the money had melted away.

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Madoff Wall Street fraud threatens Jewish philanthropy :)

The arrest of Wall Street trader Bernard L. Madoff, who federal agents say defrauded investors of an estimated $50 billion, has had immediate consequences in the Jewish philanthropic world.

Madoff was arrested Thursday for allegedly defrauding his clients of $50 billion in a massive pyramid scheme over the course of several years. He was released on a $10 million bond.

A lawyer for Madoff told the Wall Street Journal: "Bernard Madoff is a longstanding leader in the financial-services industry with an unblemished record. He is a person of integrity. He intends to fight to get through this unfortunate event."

One charity already closed and insiders are worried that the ramifications of Madoff's financial demise may extend to the many organizations he supported and the wealthy Jews he advised.

On Friday, Madoff resigned from Yeshiva University, where he served as the chairman of the Sy Syms School of Business and treasurer of the board of trustees. Madoff and his wife, Ruth, had also endowed a "Presidential Fellowship" at the university.

In a statement, Yeshiva University spokeswoman Hedy Shulman said that news of Madoff's arrest had "shocked" university officials, adding: "Our lawyers and accountants are investigating all aspects of his relationship to Yeshiva University. We reserve our comments until we complete our investigation."

The same day, the 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. A 16-year-old charity, the organization's stated goal had been "reversing the trend of assimilation and intermarriage."

It had funded teen trips to Israel, enrichment programs for Jewish educators, and interfaith outreach initiatives. According to a press release issued Friday by the foundation, all of its assets had been frozen by the federal courts. "The money needed to fund the programs of the Lappin Foundation is gone," the statement read.

"It's with a heavy heart that I make this announcement," the organization's trustee, Robert I. Lappin, said. "The Foundation's programs have touched thousands of lives over many years in our efforts to help keep our children Jewish."

Madoff also made charitable donations to other Jewish organizations, including the 92nd Street Y, where he and his wife were listed as "Benefactors" having given a gift of between $2,500 and $4,999 to the 2006-2007 annual campaign. He had also chaired a gala fundraiser on behalf of Gift of Life, a Jewish bone marrow registry and cord blood bank.

In addition, the Madoffs were such significant contributors to UJA-Federation of New York that the charity placed a death notice in the New York Times, extending sympathies to the Madoff family following the death of a family member. The notice mentioned Bernard Madoff, and referred to the family as "cherished friends and leaders whose deep commitment to the New York Jewish community profoundly impacts millions of lives."

The investor was close to a number of prominent Jewish donors, both on Wall Street and elsewhere. The Wall Street Journal reported that members of the Boca Rio Golf Club in Boca Raton and the Palm Beach Country Club in Palm Beach were heavily invested with Madoff's firm. Both clubs are heavily Jewish. :lol:
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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Good old Uncle Sam likely to pick up the tab.
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http://wcbstv.com/business/madoff.ponzi.scheme.2.888036.html

Madoff Investors May Be Protected By Government

Judge Says Those Duped Need Aid Under The Securites Investor Protection Act

Timeline: U.S. Credit Crunch & Financial Failures
View Market Summaries & Leading Stock Changes
Reporting

John Slattery NEW YORK (CBS) ― Federal investigators remain at the investment offices of disgraced investor Bernard Madoff, scouring through records to learn the scope of what may be the biggest Ponzi scheme ever in the United States.

The numbers are staggering, the losses far-reaching, but help may be on the way for investors thanks to an order for protection from a federal judge.

The scheme was operated out of the so-called "Lipstick Building" on Third Avenue. Bernard Madoff Investment Securities LLC occupies three floors and may have bilked investors of $50 billion.

Prosecutors say it was a classic Ponzi scheme. The firm paid-off earlier investors with money from new investors. It collapsed amid a nervous economy when some people wanted their money out.

"I believe he was a polished, polished, highly sophisticated schemester," said investors' attorney Mark Mulholland.

Mulholland's Long Island firm represents some 100 investors that could grow to several hundred who claim they lost millions.

"University endowments, pension funds; the scope seems to be limitless and affects little people too," says Mulholland.

In addition to publisher Mort Zuckerman; Fred Wilpon, owner of the Mets; former Philadelphia Eagles owner Norman Braman; there were the modest investors who put their faith in Madoff.

"We lost our life savings," said investor Joan Sinkin.

Brooklyn transplants to Florida, Sinkin and her husband Arnold said they lost 85-percent of a nearly $1 million investment.

"We were able to do things to enhance our retirement. Then in 72 hours, we were bankrupt," she said.

It's charged at least 50 charities were bilked, including a charitable fund set-up by the family of Senator Frank Lautenberg of New Jersey.

Meanwhile, a federal judge on Monday threw a lifesaver to investors who may have been duped, saying they need the protection of a special government reserve fund set up to help investors at failed brokerage firms.

U.S. District Judge Louis L. Stanton ordered that clients of Madoff's private investment business seek relief under a federal statute created to rescue cheated investors. Stanton also ordered that business be liquidated under the jurisdiction of a bankruptcy court and named attorney Irvin H. Picard as trustee to oversee that process.

Stanton signed the order after the Securities Investor Protection Corporation asked that steps be taken to protect investors in the scheme, which has ensnared several major banks and prominent figures as victims and could result in as much as $50 billion in losses.

Congress created the SIPC in 1970 to protect investors when a brokerage firm fails and cash and securities are missing from accounts. Funds can be used to satisfy the remaining claims of each customer up to a maximum of $500,000. The figure includes a maximum of up to $100,000 on claims for cash.

The order came just days after federal prosecutors charged Madoff with securities fraud, saying he had admitted to orchestrating a massive Ponzi scheme. Madoff is free on $10 million bail after he was charged with securities fraud last week.

Ira Lee Sorkin, Madoff's lawyer, declined to comment.

SIPC President Stephen Harbeck said in a statement that the fund's task will be harder than in other bankruptcies because of the size of the misappropriation and the condition of the defunct firm's records.

Harbeck said it would be unlikely that the trustee can transfer the firm's customer accounts to a solvent brokerage firm. He added that it was impossible at this point to determine what share each investor might hold in any remaining assets.

From its inception through December 2007, the SIPC has advanced $507 million and made possible the recovery of $15.7 billion in assets for an estimated 626,000 investors, the fund said on its web site.

Several major banks including Spain's Grupo Santander SA, Britain's HSBC Holdings PLC, Royal Bank of Scotland Group PLC and Man Group PLC, France's BNP Paribas and Japan's Nomura Holdings reported falling victim to Madoff's alleged Ponzi scheme.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Judge Says Those Duped Need Aid Under The Securites Investor Protection Act


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In the words/sound of Curly from the "Three Stooges" "Certainly!"


The open reporting and naming may just another move in the NKVD Cabal final moves to try and get some Dec. 7, 1941 moves out of any resistence left to these eternal thugs.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Judge Says Those Duped Need Aid Under The Securites Investor Protection Act


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

In the words/sound of Curly from the "Three Stooges" "Certainly!"


The open reporting and naming may just be another move in the NKVD Cabal final moves to try and get some Dec. 7, 1941 moves out of any resistence that possibly could be left to these eternal thugs.


http://ics.leeds.ac.uk/papers/vp01.cfm?outfit=pmt&folder=933&paper=1129
 
Ha'aretz newspaper -- Life Imitates anti-semitism

http://www.haaretz.com/hasen/spages/1047173.html

anti-Semitism

By Bradley Burston

Tags: Israel News, Madoff

For the true anti-Semite, Christmas came early this year.

The anti-Semite's new Santa is Bernard Madoff. The answer to every Jew-hater's wish list. The Aryan Nation at its most delusional couldn't have come up with anything to rival this:

The former chairman of Nasdaq turns out, also, to be treasurer of the board of trustees at Yeshiva University and chairman of the university's business school. Rich beyond human comprehension, he handles fortunes for others, buying and selling in a trading empire that skirts investment banks and other possible sources of regulation. He redefines avarice, knowingly and personally bilking charities and retirees in the most classic of con games. Advertisement


Even better, for those obsessed with the idea that Jews control finance, entertainment and the media, is the idea that Madoff's greed was uncontrollable enough that he targeted fellow Jews, even Holocaust survivors, some of them his own friends, as well as Israeli companies who insured Jews, including Holocaust survivors.
The beauty part, for the anti-Semite: Madoff's machinations, which could have been put to use for the sake of humanity, have directly harmed Jewish welfare and charity institutions.

He has managed to harm contemporary Jewry in ways anti-Semites could only dream about. He has sapped the Jewish Federation of Greater Los Angeles of 11 percent of its assets, or some $18 million. In the words of prominent educator Avraham Infeld, he "obliterated" long-standing charitable foundations for Jewish causes in Israel, Eastern Europe and North America.

Along the way, Madoff assured the story enormous play, not only with the scale and the impudence of the scheme, but with his A+ roster of celebrity victims, among them Stephen Spielberg, Elie Wiesel, and billionaire real-estate tycoon, media mogul, commentator and former chairman of the Conference of Presidents of Major American Jewish Organizations Mort Zuckerman. A senior U.S. senator is one of his client-marks, as well as present and past owners of professional football and baseball teams.

Then there was the betrayal of old friends like philanthropists Carl and Ruth Shapiro, megadonors to the Museum of Fine Arts in Boston,
Brandeis University and the Beth Israel Deaconess Medical
Center.

"The scandal rippled far beyond the multimillion-dollar private foundation run by Madoff that channeled money into hospitals and theaters," Reuters reported, "and swept up charities large and small, directly and indirectly, along with wealthy Jewish investors Madoff personally advised."

Adding the element of clannishness, The New York Post was more direct.

"Working the so-called "Jewish circuit" of well-heeled Jews he met at country clubs on Long Island and in Palm Beach, and through his position on the boards of directors of several prominent Jewish institutions, he was entrusted with entire family fortunes.

"The guy was totally respected. He was a heymishe Jewish guy. He had sweet old ladies and he let their children in," said a Manhattan lawyer who invested with Madoff.

"This guy was dealing with all the rich Jews in Roslyn and the rich Jews in Palm Beach. This was passed down from family member to family member because he wouldn't open up to new people."

It remains to be seen how far we've come from the days of the frank Jew-hate and genteel anti-Semitism of the likes of Henry Ford and F. Scott Fitzgerald. We can only hope that the Meyer Wolfsheim Effect remains dormant, the Great Gatsby heritage of "the man who fixed the 1919 World Series."

" ... If I had thought of it at all, I would have thought of it as a thing that merely happened, the end of some inevitable chain," Fitzgerald's narrator confides. "It never occurred to me that one man could start to play with the faith of fifty million people - with the single-mindedness of a burglar blowing a safe."

In the meanwhile, Bernard Madoff, you've made the days of uncounted devout Jew-haters. This year, all they want for Christmas, is you.
 
Re: Ha'aretz newspaper -- Life Imitates anti-semitism

My wish list has been fulfilled for this Christmas. It's rare that Jews get screwed out of money. About time. Better yet, it was from another Jude.:D

He's not the only Jew that screwed somebody lately. Look at all those Jew brokerage firms that stole our money.:mad:
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Lost fortunes: List of major players that got duped by alleged Ponzi scheme goes on

The following is a list of investors with exposure to Madoff's alleged scheme.

1.) Union-based Bed Bath & Beyond Inc. co-founder Leonard Feinstein
: undetermined.

2.) A charitable foundation funded by the family of New Jersey Democrat U.S. Sen. Frank Lautenberg
, which has donated to the Breast Cancer Research Foundation, Catholic Relief Services and the New Jersey Performing Arts Center.

3.) Avram J. Goldberg
, the founder of the Stop & Shop supermarkets: undetermined.

4.) New York Mets owner Fred Wilpon
: undetermined.

5.) J. Ezra Merkin
, chairman of GMAC Financial Services: According to the Wall Street Journal, Merkin, also a money manager at Ascot Partners had $1.8 billion under management as of Sept. 30, and most of it was invested with Madoff, according to the Wall Street Journal.

6.) Former Philadelphia Eagles owner Norman Braman
: undetermined

7.) Ira Roth
, a New Jersey resident, told the Wall Street Journal his family has about $1 million invested through Madoff's firm.

8.) Investment-management firms, including Tremont Capital Management, which had more than $1 billion invested, according to the Financial Times and Fairfield Greenwich Advisors, whose $7.3 billion Fairfield Sentry Ltd. invested with Madoff's firm according to Bloomberg.

9.) Several banks around the globe, including the Royal Bank of Scotland ($597 million), France's largest bank, BNP Paribas $466 million, Britain's HSBC Holding PLC ($1 billion) and Spain's Santander ($3.1 billion) all stand to lose billions, according to the Associated Press.

10.) Mort Zuckerman
, the chairman of real-estate firm Boston Properties and owner of the newspaper and U.S. News & World Report, had significant exposure through a fund that that invested with Madoff, according to press reports.

11.) Irwin Kellner
, the chief economist for MarketWatch.com and an economic scholar at Dowling College, invested more than $2 million in an IRA and another investment account with Madoff, according to press reports.

12.) Nine West founder Jerome Fisher
is said to have lost $150 million, according to press reports.
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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Hollywood Figures Snarled in Billion-Dollar Fraud Scheme :lol:

LOS ANGELES -- "Good news, bad news" probably doesn't begin to describe the day Hollywood screenwriter Eric Roth
had last week.

Roth was nominated Thursday for a Golden Globe award as screenwriter of "The Curious Case of Benjamin Button." And that same day, he learned that he lost all his retirement money to Bernard Madoff's alleged $50-billion Ponzi scheme.

"I'm the biggest sucker who ever walked the face of the Earth," Roth said Tuesday. "But the tragedy is the people who lost their life savings and their dreams."

Roth, whose screenwriting credits include "Forrest Gump," indicated that his losses were heavy, although he declined to give a dollar figure. He said he had entrusted his funds to an investment manager he had used for decades.
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Madoff's decades-long enterprise also entangled such high-profile investors as director Steven Spielberg
and Jeffrey Katzenberg
, chief executive of DreamWorks Animation SKG.

Katzenberg and Spielberg's Wunderkinder Foundation both had investments with Madoff that were made on their behalf by their business manager, Gerald Breslauer, according to people familiar with the situation.

Breslauer's Century City-based firm once represented the who's who of Hollywood and the music industry. Today, the practice he and his partner, Mickey Rutman, run centers around the affairs of Spielberg and Katzenberg, according to several people familiar with the operation.

Breslauer declined to comment Tuesday through an office assistant who said, "We don't discuss our clients' affairs."
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Madoff Moved The Money (Up to $100 Billion) To Israel?

Madoff Moved The Money To Israel?

Amount May Be Closer To $100 Billion
From Mark Graffis
12-18-8

As more info comes in regarding the Madeoff scheme, news from several sources say that Madeoff and his clients were the largest bank account holders listed on a computer disk leaked by a Swiss bank worker regarding US persons with hidden Swiss bank accounts.

As the IRS approached him regarding the repayment of taxes from his hidden swiss account, Madeoff reportedly became admamant that his wealth would not be taxed by the US. He also realized that once the swiss records were exposed that his and his client's wealth were also within reach of seizure or judgement by a US court regarding past frauds of him or his clients.

Realizing that he was be certain to arrested on other securities and market making fraud issues in the near future, insiders say that it was at this point he made the decision to just say it was all lost in trading and move it directly to Israel. Insiders also report that he was ready to pay the taxes on the money in Israel but was adamant that taxes in the US would not be paid nor would any of the money be available for US court judgements in subprime, fraudlent trading and misrepresentation charges in the future.

Sources say that most of his and his clients wealth were gained through issuing subprime mortgages to unqualified borrowers and then tranching the mortgages into CDOs and circulating the CDOs among US pension funds including GM, GE, IBM and Califorina's State pension fund. Some of the wealth was also gotten through investments in Vegas housing sub divisions and Miami condo projects at the height of the real estate bubble.

Finally, sources say that the wealth from Madeoff's scam has been fully transfered to Israel and that "most if not all of the clients have been made aware" that their money is available to them in Israel and that it was felt that this was a necessary measure in protecting certain high level clients in the face of a collapse of the USA.

A European bank executive has said early this morning that the Banks involved in Madeoff's fund were exposed through loads and leveraging and that these loans will be repaid in full from Israel.

All of the charities involved have Israeli offices, so they also are of an understanding that their money is now available there.

Sources say that Madeoff has a base in Israel and that he will offer all clients his services there as a continuem to his services in New York.

Speculation has it that he is advising transfer of client's funds into physical gold holdings in coded safety deposit boxes. This advise jives with the notion that the money needed to be taken out of the US on fear of collapsing US dollar and seizure of funds by IRS and courts for frauds committed during the sub prime bubble.

The Swiss bank client leak has caused these banks to no longer be viable avenues for asset concealment.

Madeoff's clients are not just in the US. He has moved funds to Israel for clients in Russia, France, England and Swiss in the scheme in which he is involved.

Some insiders are saying the amount involved may be closer to $100 Billion.

http://www.rense.com/general84/mado.htm
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Tuffy said:
It's funny, that behind every financial swindling and/or scandal...there's a Jew!

These ugly Jew bastards!
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At least in this case it appears the Madoff rip off was mostly confined to other Jews.

Was there any form of filth or profligacy, particularly in cultural life, without at least one Jew involved in it? If you cut even cautiously into such an abscess, you found, like a maggot in a rotting body, often dazzled by the sudden light - a kiike!
Adolf Hitler
Mein Kampf
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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Madoff's Willing Partners

There seems to be little doubt that Bernard Madoff is a cheat. His apparent Ponzi scheme, in which capital from new investors would have been used to pay "dividends" to earlier investors, ultimately cost the participants many billions of dollars. But was it all Madoff's fault? I contend that the losses would have been less severe, and might not have occurred at all, if many of the Madoff's investors had not been cast from the same mold that Madoff was. :lol:

The facts should have been enough to make anyone suspicious. Madoff's accounts were only perfunctorily audited, and his statements were printed with a dot-matrix printer on lightweight copier paper. Above all, his business returns were consistently good -- too good -- and he never reported a down month, let alone a down quarter or year. Let's be honest; such oddities had to have set off alarm bells. So why did so many professionals continue to invest with him?

Only one answer makes sense. Some of those investors must have suspected that he was a cheat but continued to invest because they thought they were benefiting from that cheating. In other words, they took him for a different sort of cheat from who he was -- one who was using information gained from his market-making operation to earn illegal profits rather than one who was operating a breathtakingly audacious Ponzi scheme.

And by continuing to invest with Madoff under this belief, those institutional investors became complicit in that cheating. In fact, they became cheats themselves but without being aware of all that can happen once two parties become involved in a mutual cheating game.
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Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

One can understand surely now why back in 1987 why they circled the wagons at the Black Rock "CBS" in NYC and they paid 4 times more what the CBS stock was worth rather than let Ted Turner take total control as he planned to.

Only in 1987 they did not concieve how big the coming p.c. would be so today the effort turns to hate laws to shut down infomation competition perhaps, and they have never made their money back if I am correct.

Making money or losing money is not as important as control.
 
Re: The fall of Bernard Madoff and the beginning of the end of Cargo Cult Multicultur

Even with Madoff gone the carnage continues on.

http://online.wsj.com/article/SB122909741818201923.html

One of Wall Street's best-regarded young traders sustained a $1 billion hit recently, as the corporate-bond-trading market has been upended by the credit crisis.

A Deutsche Bank AG team led by 35-year-old Boaz Weinstein had for months been using a "basis trade" that involved buying large amounts of corporate bonds, and at the same time hedging those bets by buying credit-default swaps, in essence insurance against a default on those bonds. Profits flowed, as the corporate bonds carried yields that were slightly higher than the cost of buying swaps protection.

But in recent months, amid the credit-market upheaval, investors have...

snip
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Avoid the Jew.
 
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