Tag Archives: financial collapse

Bernard Madoff serves time incognito

Pnzi scheme financier scam artist in Groucho incognito glassesYou and I fight traffic tickets, Phil Spector fights charges that he put a gun to a woman’s mouth and pulled the trigger, he fights for years. Everyone fights against the long arm of the law, except Bernie Madoff. Does that make sense to you?
The biggest economic fraud ever perpetrated by one man, and that man pleads guilty. Hmmm.

We are told that as a consequence, Madoff doesn’t have to tell anyone where he buried the treasure. Meanwhile his accomplices are being charged and are proclaiming themselves innocent.

Okay, I didn’t know that not plea-bargaining means not having to say you’re sorry, or divulge where you took the loot. I didn’t know that when Kenneth Lay died, it meant that because his appeal could then never be exhausted, his wife and family got to keep the money. An appetizing pattern emerges…

Can you imagine a parade of white-collar-criminal bunkmates sidling up to Madoff in prison, hoping to learn the whereabouts of his vanished bullions (who saw that pun coming)? Nor can I. Michael Milken –now a financier and philanthropist–had plenty of business suitors waiting to hire his larcenous consultation when he was released. Paper crimes don’t garner severe prison sentences. Whether Madoff has a felony on his record or not can hardly hinder his future prospects.

Madoff has a very good reason to plead guilty. It’s a bit like the Kenneth Lay play-possum legal strategy. Let’s remember Bernie Madoff couldn’t even afflict himself with jail. He remained out on bail in his luxury penthouse, until his day in court. Since then where has he been? Have YOU seen him? Are you sure he’s where authorities say he is?

I’m convinced that Bernie has a plan to stay out of the penal system. And it doesn’t involve a jury verdict.

I’d guess with just a fraction of his loot, he can pay off the very few administrators involved to handle the paperwork to incarcerate someone in his place. No visitors, no outsiders to know. It won’t be Bernie doing the time, it’ll be a stand in. Maybe as simple as a real inmate, written off as released, but reissued Bernie’s ID. No cosmetic surgery necessary, what’s the probability that prison guards know what Bernie Madoff looks like anyway.

If Bernie had to go back and forth to court, he’d have to do be there himself. Being seen by too many people.

In prison, rather, not in prison, Madoff can live the rest of his years on a private estate, miles from onlookers, his fence-line probably abutting Kenneth Lay’s.

Cuba emerges victor of Cold Cash War

The ban on US travel to Cuba may be lifted, but isn’t the timing so 1989? Old Havana has been affected by the European tourists which have been coming for decades, but opening the gates to the capitalist hordes of the American unwashed has been a dreadful prospect for the idyllic socialist retreat. It’s fitting that today, the US economy doesn’t pack the reckless punch it once did. Phase two of the Cold War is over and Capitalism has been felled. And it’s Castro, not Reagan, who’s lived to see it.

Stop bailing the banks out and nationalize them, Robbing Hood

Robbing Hood$173 billions of taxpayer money given to just one financial company, AIG! Thanks, Obama, you’re really doing great here. What has the American public gotten for this travesty of economics, as Obama and Bush (the Democrats and the Republicans) have taken from the poor and given to the rich?
Why, they have gotten absolutely nothing. Who has gotten anything besides AIG?

‘The Wall Street Journal reported on Friday that about $50 billion of more than $173 billion that the U.S. government has poured into American International Group Inc since last fall has been paid to at least two dozen U.S. and foreign financial institutions.’ See Reuters… Who got AIG’s bailout billions?

What is this? Is there some sort of competition between American conservative loonies and America’s liberal loonies going on? Why don’t Americans call for nationalizing the banks since obviously the Feds can’t get the job done without all sorts of money being stolen from the poor? Enough of these Robbing Hoods! It’s time to nationalize the banks.

Money As Debt video

moneytrapThere is a short 45 minute video called Money As Debt that gives a great explanation of the current Financial Crisis. It is thoughtful, easy to understand, and a well done video with illustrations and quotes from insiders used as references.

Thanks to David V. for sending it my way! He’s been doing a lot of thinking about the real estate bubble in the South Florida region over the last 2 years. It is a bad situation in that area of the country.

So much for the economic bailout plans of the wealthy criminal class

changed prioritiesThey had to give that money away to the super rich now didn’t they? It was to save the poor they said, too. It was to save us all from imminent disaster the pundits and politicians clamored. Political whores… They lied and we didn’t have the organization to do anything about it, having already put all our efforts into getting those most responsible for the mess elected once again! Stupid us.

The US ruling class gave away a trillion, and the Europeans, not to be outdone, tripled that for their elites. Can we all get a refund now? This bailout won’t work, cannot work, simply because it rewards corporate criminality with a big gift, and not the restructuring they all need, part of which would be to jail the White Collar criminals who are still in charge.

The mess is all being blamed on inappropriate leveraging, when the inappropriate leveraging all along has been corporate lobbying and control over the national governments of the US and the European nations. It’s time to get angry, get organized, and change the plans of those who would destroy the planet, let alone merely the economy. It won’t happen without anger and opening our eyes, ears, and minds to new thoughts. Meanwhile we just wait passively for the punishment they are dead set to inflict on us all. We have no plan at all.

Donkey fed carrot from Bush

donkey-carrotThe Democrats are just so damn predictable it makes one wanna throw up. After bleating out their protests against the trillion dollar tax-paid giveaway to loan sharks in trouble, they then meekly take a carrot, bray, and go about doing the dirty work their Republican masters have set out for them in the field. Obama says Congress appears “close” to bailout deal. What a joke and what a joker! What a donkey.