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Thread: Madoff

  1. #1

    Madoff

    No need to waste money feeding, clothing, and housing him.

    Wouldn't it be better to use his talents (he WAS a former NASDAQ chairman) to work for FREE and have all the money he makes go to his victims?

  2. #2
    Given his age and qualifications, he cannot earn enough to pay off even one of his client's money. The guy screwed people for somewhere between $50-65 billion dollars. He will be lucky to earn $ 100,000 dollars/year to pay his clients back. He is better off in jail now.

  3. #3
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    Talents?

    He ran a ponzi scheme for christ's sake!

    Anybody can do that.

    Tell you what, send me a minimum of 1 million dollars and every quarter I will send you a piece of paper with lies all over it.
    Hell, I'll do one better than Madoff, not only will I tell you you're rich, I'll tell you you're handsome too!

    Really, just P-M me, no problem, just specify the return you'd like on
    your investment every quarter. I can make it anything you like.
    J Edgar Whoever

  4. #4
    To me, $100K sounds like something for a entry level trader.

    These wall street guys make millions in trades.

    Given Madoff's senior expertise, I was thinking he could work under TOTAL supervision by the SEC. Even large scale stuff too.

    Of course EVERYTHING he does would be put under the microscope.

    He would be required to live in a halfway house, and all his movements tracked. No car (he can either take public transportation or the cops babysit him.)

  5. #5
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    Quote Originally Posted by bond_james_bond
    Given Madoff's senior expertise, I was thinking he could work under TOTAL supervision by the SEC. Even large scale stuff too.

    Of course EVERYTHING he does would be put under the microscope.

    He would be required to live in a halfway house, and all his movements tracked. No car (he can either take public transportation or the cops babysit him.)
    What planet are you from?

    His senior expertise RUNNING A PONZI SCHEME!!!!!
    He doesn't have any track record making money.
    His previous reputation was based on NOTHING.

    Now, maybe they could use him finding other Ponzi schemes but I'd rather the SEC hire the guy who has been writing them letters for ten years saying it was a Ponzi scheme and throw that Mother F*cker Madoff in Jail.

    White Collar criminals having been getting off easy for way too long,
    put em all in jail dammit! And for a GOOD LONG TIME.
    J Edgar Whoever

  6. #6
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    Quote Originally Posted by curious
    The proper way the punish white-collar criminals is to take away everything they own and auction it off, with the proceeds going to the victims.
    AND put them in Jail for a GOOD LONG TIME.
    J Edgar Whoever

  7. #7
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    Quote Originally Posted by Dr Edgar Who
    What planet are you from?

    His senior expertise RUNNING A PONZI SCHEME!!!!!
    He doesn't have any track record making money.
    His previous reputation was based on NOTHING.

    Now, maybe they could use him finding other Ponzi schemes but I'd rather the SEC hire the guy who has been writing them letters for ten years saying it was a Ponzi scheme and throw that Mother F*cker Madoff in Jail.

    White Collar criminals having been getting off easy for way too long,
    put em all in jail dammit! And for a GOOD LONG TIME.
    Not anymore. Not since Enron and Worldcom. White collar crimes are becoming extremely outrageous and the victims and $ lost are unthinkable.

    Madoff and his family are narcissistic. The fact that he was so concerned with siphoning off money to his family to the very end while he faced the rest of his life in prison was uncanny. Most white collar criminals are narcissistic and lack empathy towards their victims.

    The public is sick of white collar crime and the long sentences that they have been getting is a reflection of society's disguist with their type of crime.

  8. #8
    I am no economist at all , but isn't the $ 800 billions "stimulus" a Ponzi scheme ?

  9. #9
    I am no economist at all , but isn't the $ 800 billions "stimulus" a Ponzi scheme ?
    At last someone woke up!!!

    Guess who will pay for it , twice ???

  10. #10
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    Quote Originally Posted by centaurus
    I am no economist at all , but isn't the $ 800 billions "stimulus" a Ponzi scheme ?
    Do you actually know how to define a Ponzi Scheme?
    I am not sure I follow you...

    Pay-as-you-go Pensions Systems and other social insurance programs where current income is used to cover current expenses but there are insufficient reserves to pay the ultimate benefits as advertised are often criticized as being like "Ponzi Schemes".

    Keynesian Fiscal Policy in a downturn is supposed to keep the economy at full capacity so that a breakdown in the economic system doesn't become a vicious cycle where all this productive capacity gets uselessly wasted.

    I think most economists would agree that a serious dose of fiscal policy right now is a good idea, the important thing is to run surpluses during boom years so that you are even "over the cycle". Now, the US hasn't been running surpluses through the Bush years which were very prosperous, this was bad economic management.

    Given that the private sector isn't investing, the government will hopefully not crowd out private investment and can try and engage in productive investment (energy efficiency, highway 30 here in QC) that will pay for itself over time.

    It is true that spending won't necessarily solve everything and some right-wing economists would suggest that you will gain nothing but a pile of debt and, because some of these people don't seem to think any government investment is productive, no assets in exchange. This is a minority view.

    That said, I think the US economy is in a very different place competitively and demographically than where it was in the 30-40s. The US was an explosion waiting to happen back then (Texas oil barely touched, young population, it's only economic rivals devastated by war) and so the growth required to pay back the debt came through. This time it's different, so the government will have to be careful to not get too much in debt. Of course the US has one big advantage over the other countries in the world, they can just inflate. Ultimately, I expect that this is exactly what will happen.

    It will be interesting what they decide to do about health care, the us system costs a fortune, there must be some way to provide a socialized system without increasing overall costs. One thing for sure, I think we need to train more doctors. In other countries, medecine is a well rewarded profession like engineering or accounting but not a guarantee to such a high standard of living as in the US. This probably needs to change. Not making friends here, am I?
    J Edgar Whoever

  11. #11
    Hey ! I say cut the man's....
    In pulic and put this on youtube !

    I'll bet some would think twice !
    Then again, it would make the news a couple days until some other 'sensational fabricated news' would come up !

    Seriously if you had to punish everyone who profit from all the people dying in third world countries by taking their land, and everything away from them...

    What do you think is the oil business ?
    Even here with our own government taking profit out of their own taxes..

    If it ain't pyramidal I am the freak*n pere noel !

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