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Bye Bernie

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zinfamous said:
As a Mets partisan also, this is just....so Mets. You probably know this better than I do, but I seem to recall that one of the main reasons to invest with Madoff was so that they could afford Bobby Bonilla's lifetime salary?

abc7chicago.com

Happy Bobby Bonilla Day: Here's why the Mets pay him $1.19 million every July 1

For most of us, it is simply July 1, but New York Mets fans know it by a different name - Bobby Bonilla Day.
abc7chicago.com abc7chicago.com

lol. I love Bobby Bonilla day. Once again....so Mets.
Click to expand...


That contract STILL pisses me off ... along with trading Seaver and letting Ray Knight walk among MANY others! ('86 WS MVP)

😵

Remembering Juan Samuel can cause the mushroom-barley soup to rise too!
 
Captante said:
That contract STILL pisses me off ... along with trading Seaver and letting Ray Knight walk among MANY others! ('86 WS MVP)

😵

Remembering Juan Samuel can cause the mushroom-barley soup to rise too!
Click to expand...

hahaha, Bonilla still gonna pull about 14 million more from the Mets if he lives to the end of his contract (though I wonder if it will transfer to his dependents if he croaks first?)

maybe the Mets should send him a case of bourbon and a couple of cartons of cigarettes this year, hoping that he starts a terrible habit and dies way too early. ...I wish nothing ill against Bonilla, but I can imagine that management has had such ideas in the past, lol.
 
woolfe9998 said:
It doesn't work that way. You first explain why you think the two are equivalent. Then we decide if we agree or not.

So let's start like this. What is it that the "average stock broker" does which is similar to if not equivalent to what Madoff did?
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I was recruited several times to work for brokerage houses. I was in an industry that I had contacts with many wealthy people making my contacts valuable to a brokerage house. A friend of mine bit. He became a broker and lasted a couple of years. He realised that his company gave conflicting buy sell information based on the value of accounts. He had problems following the company line. He said churning accounts was how he could make money but holding good stocks was how a customer could make money. I have held stocks for 55 years. My longest held position was $2000. of Connecticut Light and Power purchased in 1969 I have reinvested this dividends on this position from the start. I still hold it and it is worth $119,896.14
 
s0me0nesmind1 said:
Bernie is living proof that you can disobey laws, fuck people over, etc... and simply get a finger-wag and small "cost of doing business" fine from government, no jail time, etc... as clearly seen over the years with housing crisis, Enron, etc.. etc.. etc...


But if you fucking touch other rich-people's money your ass is in jail for life. Funny how things work.
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Viper1j said:
Bernie WAS living proof that you can disobey laws, fuck people over, etc.

Fixed that for you.

You're welcome.
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No he is right, if you mess with other rich well-connected people the repercussions are far more severe than screwing over the average Joe
blow and hiding behind lawyers and various legal but shady practices.

www.rollingstone.com

Why Isn't Wall Street in Jail?

Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them
www.rollingstone.com www.rollingstone.com



Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world’s wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.
Click to expand...

The rest of them, all of them, got off. Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities — has ever been convicted. Their names by now are familiar to even the most casual Middle American news consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What’s more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even “one dollar” just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick “The Gorilla” Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars.
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Donald Trump is also a ponzi schemer. He ponzi schemed the U.S. Government by making a percentage of government gained tax money his own money; when the government needed to use money, he would tell them to buy cheap. If they needed to buy something expensive, he would put the U.S. in a government shutdown, so the government could accumulate enough money to pay off the price, or tell treasury to print money on the fly. When it came near to the time of congress budget decision days, he would either place a percentage of the money he stole, or use money of his son's empire's business clients, and place into the government. This way congress would not find that there is money that has vanished. After the congress session, he would take all that money back.
 
And now some of Bernie's family ....

Bernie Madoff's Sister Dies In Apparent Murder-Suicide

www.forbes.com.ico
Forbes|2 hours ago
The sister of Bernie Madoff, the late disgraced financier behind the largest Ponzi scheme ever, died in an apparent murder-suicide, local police confirmed Sunday, representing the latest tragedy befalling Madoff's family following his epic fall from grace.
 
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