Tuesday, December 16, 2008

Last Drop of Trust Gone

Meet Bernard L. Madoff, former NASDAQ chairman and investment guru. Bernie looks like a Hollywood grandpa. Who would not feel safe letting this man invest their money?

Mr. Madoff is Exhibit A in my evidence proving the world financial system is absolutely doomed. You see, for the last three years, Bernie has been running a Ponzi scheme disguised as an investment firm.

Bernie duped his investors by promising 12% profit per year with no questions asked. He lumped their money in a big pile and paid their "profits" from that. At 12%, a fellow can Ponzi about eight years, then it's all gone. It only took Bernie three years to go bust, a fate he doubtless blames on the soured economy.

The only way a Ponzi works is to defraud the maximum number of investors and then disappear from the face of the earth. How do you disappear when you are the former chair of NASDAQ and a famous Jewish Philanthropist? I guess you just die and leave your family to sort stuff out.

No wonder his sons turned him over to the FBI.

High Finance has certain rules on who may and may not be cheated. Bernie broke the rules and will suffer greatly. His investors, guilty of turning a blind eye as to how their returns were made, are already crying for a taxpayer bailout.

All trust is gone once Jews cheat Jews. We are doomed.

No comments:

Post a Comment