"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.
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You have to admit this is a pretty smart guy. Perhaps there is a place in the government for him.. wouldn't doubt it.
ReplyDeleteha!
ReplyDeletewe should make him the chief of social security --- which is after all a PONZI SCHEME.