SCANDAL BIGGER THAN BERNIE: NY POST

THANK YOU PAUL FROM ATLANTA: YOU DEFINITELY HAVE YOUR EYE ON THE RIGHT BALL.

And then there is this one which described the scale of the Wall Street schemes that brought all of us to this point. People are just starting to realize that they are all citizens of the same country and that if financial firms put the fix on 20 million people its effect will be felt by all 300 million citizens. This isn’t about personal responsibility — it’s about criminal responsibility. This isn’t about ideology — it’s about morality. This isn’t about collecting a legal debt — it’s about stealing money and property. The Madoff scheme is a tiny fraction of one percent of the scale of the Wall Street derivative scheme. Compare $5 to $10,000 if you want to look at numbers you can comprehend. The real numbers are $50 billion (Madoff) and $500+ trillion (Wall Street).

SCANDAL BIGGER THAN BERNIE

Last Updated: 7:42 PM, August 13, 2009

Posted: 7:42 PM, August 13, 2009

HARRY Markopolos — the whistleblower on Bernie Madoff who proved to be much smarter than the SEC — says there are evildoers out there who will make the Ponzi scum “look like small-time.” Markopolos gave a speech to 400 of the faithful at the Greek Orthodox Church in Southampton and predicted major scandals will soon be revealed about the unregulated, $600 trillion, credit-default swap market. “To put it in simple terms, it is like buying fire insurance policies from five different insurance companies on your neighbor’s house and then burning down the house,” he said. After his lecture, Hampton Sheet publisher Joan Jedell reports Markopolos was feted at a dinner at Nello Summertimes hosted by John Catsimatidis and his wife, Margo, who were joined by Al D’Amato and Greek shipping magnates Nicholas Zoullas and Spiros Milonas.

3 Responses

  1. “This isn’t about collecting a legal debt — it’s about stealing money and property. The Madoff scheme is a tiny fraction of one percent of the scale of the Wall Street derivative scheme. Compare $5 to $10,000 if you want to look at numbers you can comprehend. The real numbers are $50 billion (Madoff) and $500+ trillion (Wall Street).”

  2. I’m trying to unfool the people, which they badly need. For fast summary, note these histories are kept-little-apparent:
    http://homepage.mac.com/ttsmyf/RHandRD.html

    A little longer:
    “Ongoing extremes” at
    http://www.durangotelegraph.com/telegraph.php?inc=/08-06-26/soapbox.htm
    “The public be suckered” at
    http://www.durangotelegraph.com/telegraph.php?inc=/08-01-24/soapbox.htm

    I reckon that these foolings of the people are a/the root cause of the nation’s financial/economic malady. I’ve made many efforts to ‘reach the people’, and been ‘talking to myself’ — lots of room for success, if you care to try!

  3. As investors cry to the government
    “YOUR MASTERS HAVE CHEATED US”
    They’ll get right on it, right after the election. Unless of course public intrest is up and there poll #s down, then they will take a strong look at regulations and nail the barn door shut after all the cows are gone.

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