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Post by Savoir Faire-Demogague in NJ on Feb 28, 2011 14:29:55 GMT -5
Madoff: Gov't a Scheme Wall Street swindler Bernard Madoff tells magazine that government is a Ponzi scheme. www.comcast.net/articles/finance/20110228/US.Madoff.Scandal/(click link for full story) NEW YORK — Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme. "The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators. The interview was published on the magazine's website Sunday night. Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information. He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme."
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b2r
Junior Associate
Joined: Dec 21, 2010 10:35:25 GMT -5
Posts: 7,257
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Post by b2r on Feb 28, 2011 14:33:45 GMT -5
The government hates competition.
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Deleted
Joined: Mar 28, 2024 3:15:02 GMT -5
Posts: 0
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Post by Deleted on Feb 28, 2011 14:35:25 GMT -5
Madoff is seriously loony toons.
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swamp
Community Leader
Don't be a fool. Call me!
Joined: Dec 19, 2010 16:03:22 GMT -5
Posts: 45,294
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Post by swamp on Feb 28, 2011 14:40:43 GMT -5
When I send my money to the Federal Government, I expect the government to use said money to provide whatever services it provides (I didn't say they did it well, or efficiently, or anything else like that, I just know where the money is going).
People sent cash to Mr. Madoff expecting at least a 10% return.
Big difference.
Madoff is trying to minimize and justify.
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Post by privateinvestor on Feb 28, 2011 14:44:04 GMT -5
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Post by BeenThere...DoneThat... on Feb 28, 2011 14:55:30 GMT -5
<<< Madoff is seriously loony toons. >>> ...loco loony, not dumb loony, right?
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