2 PONZI SCHEMES: MADOFF'S FUND AND SOCIAL SECURITY: THE ASTUTE BLOGGERS SCOOPS THE WALL STREET JOURNAL BY A DAY!

WSJ - 12/17/08:

Holman W. Jenkins Jr.: Put Madoff In Charge of Social Security

Where was the SEC? Such is the plaint lofted in the wake of the Bernie Madoff scandal.

RELIAPUNDIT, THE ASTUTE BLOGGERS - 12/16/08:

Must not mention that a crook is a big Democrat donor

We read:

"Very few media stories of the fraud perpetrated by former Nasdaq chairman Madoff mentions the heavy financial support that Madoff has donated to the Democrat Party. Campaign contributions by Madoff show many thousands of dollars going to Democrat candidates and causes. Including $100,000 to the Democratic Senatorial Campaign, thousands to Charles Rangel (D, NY), Charles Schumer (D, NY), and $6,000 to the Securities Industry and Financial Markets Association. Madoff also gave generously to Senator Frank Lautenberg (D, NJ) who runs a charitable foundation that invested with Madoff.

Source

The Madoff fraud is said to be the biggest scam ever, with billions lost. Banks worldwide were caught. He stole from charities, 401(k)s, pension plans, retired people and some really vulnerable souls. Some charities lost their entire investments. More on the losers here.

Permalink - Posted by JR @ 8:11 AM

Comments on this post

You have to admit this is a pretty smart guy. Perhaps there is a place in the government for him.. wouldn't doubt it
.

# posted by Grandpa-Old Soldier : 4:52 PM

ha!

we should make him the chief of social security --- which is after all a PONZI SCHEME.

# posted by Reliapundit : 7:02 PM

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