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How did the Madoff Swindle get started?

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Blog entry by Karson posted 01-02-2009 07:31 AM 1047 reads 0 times favorited 11 comments Add to Favorites Watch

Here’s how the Madoff swindle got started.

-- I've been blessed with a father who liked to tinker in wood, and a wife who lets me tinker in wood. Southern Delaware karson_morrison@bigfoot.com †



11 comments so far

View dennis mitchell's profile

dennis mitchell

3994 posts in 2971 days


#1 posted 01-02-2009 07:41 AM

Maybe a little too true!

View lazyfiremaninTN's profile

lazyfiremaninTN

528 posts in 2609 days


#2 posted 01-02-2009 07:56 AM

Sad but true.

-- Adrian ..... The 11th Commandment...."Thou Shalt Not Buy A Wobble Dado"

View Dan'um Style's profile

Dan'um Style

13003 posts in 2639 days


#3 posted 01-02-2009 08:05 AM

hope there is some left when I get there … 2019 or so

-- keeping myself entertained ... Humor and fun lubricate the brain

View lightweightladylefty's profile

lightweightladylefty

2646 posts in 2369 days


#4 posted 01-02-2009 08:14 AM

So we’re not the only ones who see the similarity!

The news story recently which talked about the rash of counterfeiting going on failed to mention that they, too, are getting their ideas from our government who is in the business of printing phony money!

-- Jesus is the ONLY reason for ANY season.

View daltxguy's profile

daltxguy

1373 posts in 2570 days


#5 posted 01-02-2009 10:13 AM

I’ve assumed since day 1 that social security will be gobbled up by the baby-boomers ( assuming the government doesn’t go bankrupt before then) and that I will get nothing since I follow immediately behind them. I would be genuinely surprised if I got even $1 or benefit age wasn’t 85 by the time I did.

Considering that the current economic system assumes constant positive growth, debt financing paid back (or not) by inflationary dollars, a reliance on increasing consumer spending and unlimited 3rd world countries to pilfer resources from and shift manufacturing to, it’s likely that this ponzi scheme will be exposed soon, too! It’s already showing some cracks…

-- If you can't joint it, bead it!

View trifern's profile

trifern

8132 posts in 2423 days


#6 posted 01-02-2009 02:45 PM

I don’t know if you caught it on the news, but someone stole a very expensive sculpture from him. They found the sculpture returned the very day he was to report all of his assets to the court with a note on it saying, “let this be a lesson – return all stolen property to their rightful owners.”

-- My favorite piece is my last one, my best piece is my next one.

View Napaman's profile

Napaman

5346 posts in 2733 days


#7 posted 01-02-2009 07:43 PM

wow..some very true comments…I saw that Trifern…

will there be money left? By 2041 SS will only be able to pay 78cents on the dollar unless something changes—like higher payroll taxes or lower benefits…

And I do think our economy of shifting jobs and “offshore”accounts is like a ponzi scheme…as long as it can keep moving then its ok…but bam…I think we are going to see some big power fights—-the old way and the next way…(i dont know what that is)...whatever happens it will be scary, and interesting…

-- Matt--Proud LJ since 2007

View Thos. Angle's profile

Thos. Angle

4435 posts in 2619 days


#8 posted 01-02-2009 08:16 PM

I’m eligible this March and am thinking I should get some before it’s all gone.

-- Thos. Angle, Jordan Valley, Oregon

View John Gray's profile

John Gray

2370 posts in 2542 days


#9 posted 01-03-2009 07:48 AM

Happily they are still sending me a check (direct deposit) every month.

-- Only the Shadow knows....................

View Lee A. Jesberger's profile

Lee A. Jesberger

6648 posts in 2636 days


#10 posted 01-03-2009 03:03 PM

Clever, yet sad.

It’s amazing, what is illegal for us is standard operating procedure for our”big brother”.

I wonder if these bail out plans are supposed to have a trickle down effect. I mean other than the obvious part of footing the bill! AGAIN.

Lee

-- by Lee A. Jesberger http://www.prowoodworkingtips.com http://www.ezee-feed.com

View Dan'um Style's profile

Dan'um Style

13003 posts in 2639 days


#11 posted 01-04-2009 04:06 AM

hope something trickles … down, up, sideways, over or under. this economy has me worried

-- keeping myself entertained ... Humor and fun lubricate the brain

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