HomeIt was pleasing to see that the biggest rip-off merchant and swindler EVER seen in this world was finally brought to book for his crooked "Ponzi" scheme.
Having said that I then started to wonder where that £40billion+ money went to as he certainly couldn't have spent all of it.
The media are curiously silent about all of that money that was filched from the rich, the in-betweens and the poor who thought that they were investing their money in a safe and well-secured company.
Even some of the largest institutions in the world invested - at high return - in Madoff's Ponzi scheme and one would think that their investment experts might have spotted a scheme that was too good to be true. They didn't and now just about everybody that put money into that crazy scheme have had their fingers burned.
I have to ask....Will any of the smaller investors get ANY of their money back ?
I don't really care about the greedy institutions, as they should have known better !
Bernie Madoff gets 150 years...but where is the £40billion+ ?
papa_umau- Field Marshall
- Number of posts: 2485
Points: 1847
Reputation: -50
Registration date: 2008-08-23
Age: 65
Location: Scotland
- Post n°1
Bernie Madoff gets 150 years...but where is the £40billion+ ?
by papa_umau on Tue Jun 30, 2009 11:04 am
Angie baby- Lieutenant
- Number of posts: 343
Points: 696
Reputation: -10
Registration date: 2008-08-30
Location: Northern England.
- Post n°2
Re: Bernie Madoff gets 150 years...but where is the £40billion+ ?
by Angie baby on Sat Jul 04, 2009 12:20 pm
Totally nonsensical as Madoff will only live for another twenty years or so !
I am sure that the money that can be found will be redistributed around the people that were robbed but you can bet your boots that it will be the corporate debtors that will get first bite at the cherry.
I am sure that the money that can be found will be redistributed around the people that were robbed but you can bet your boots that it will be the corporate debtors that will get first bite at the cherry.
_________________
Sincerely....
Angie baby.
riders_on_the_storm- Lieutenant
- Number of posts: 337
Points: 638
Reputation: 37
Registration date: 2008-08-25
- Post n°3
Re: Bernie Madoff gets 150 years...but where is the £40billion+ ?
by riders_on_the_storm on Sat Jul 04, 2009 10:53 pm
I like the American jail terms why don't they have that here then we could have all the scumbags off the street and paying back their debt to society through 12 hour chain gangs for the rest of their life?
Andrew
Andrew
_________________
“All truth passes through three stages.
First, it is ridiculed.
Second, it is violently opposed.
Third, it is accepted as being self-evident.”
Schopenhauer
"Condemnation without investigation is the height of ignorance"
Einstein
“We cannot afford to let our population grow at the extraordinary pace now officially forecast. The pressures on our public services and communities would be too great to bear,”
Labour MP Frank Field
papa_umau- Field Marshall
- Number of posts: 2485
Points: 1847
Reputation: -50
Registration date: 2008-08-23
Age: 65
Location: Scotland
- Post n°4
Re: Bernie Madoff gets 150 years...but where is the £40billion+ ?
by papa_umau on Sun Jul 05, 2009 11:41 am
Sadly Andy, while a knee-jerk reaction like that is perfectly understandable it has been proven beyond doubt that locking everybody up for crimes is not any way to discourage repeat offenders.
Even if there WAS some kind of real "rehabilitation" available in prison this word is much maligned and is used by criminologists to pull the wool over our eyes as far as effective criminology is concerned.
America - one of THE most "civilised" countries in the world - also has the highest numbers of jailed inmates in the world per head of population. It also has the highest crime rates in the world.
I have always thought that if we admitted to ourselves that prison is just legal revenge then we would have a much healthier mindset as far as the incarceration of human beings is concerned.
Anything else is just sleight-of-hand and smoke and mirrors !
JMHO !
Even if there WAS some kind of real "rehabilitation" available in prison this word is much maligned and is used by criminologists to pull the wool over our eyes as far as effective criminology is concerned.
America - one of THE most "civilised" countries in the world - also has the highest numbers of jailed inmates in the world per head of population. It also has the highest crime rates in the world.
I have always thought that if we admitted to ourselves that prison is just legal revenge then we would have a much healthier mindset as far as the incarceration of human beings is concerned.
Anything else is just sleight-of-hand and smoke and mirrors !
JMHO !