Sunday, February 27, 2011

Bernie Madoff Calls the US Government A Ponzi

It always takes a crook to spot a crook, it seems.

New York magazine has a long article by Steve Fishman (2/27/2011) based on a telephone interview with Bernie Madoff, who is serving a 150-year sentence for his Ponzi scheme that has cost $65 billion for the wealthy, mostly Jewish, investors.

He calls the whole US government "a Ponzi", and says it's a joke that no one at Goldman Sachs has gone to jail.

For that matter, no one at J.P.Morgan Chase, Citi, Bank of America, AIG, Fannie, Freddie, no one has gone to jail.

Difference between them and Madoff? Madoff screwed the wealthy, whereas TBTF financials screwed the general populace, small flies called taxpayers and middle-class Americans, with the active help from the Treasury Secretary (first Paulson then Geithner) and the Federal Reserve Chairman (Ben Bernank), as their boss (Prez of the USSA, first Bush the lesser, then Obama) either didn't comprehend the gravity of the situation (Bush) or simply didn't care other than to look and sound good (Obama).

Here's the link to the article online.
For the printer-friendly version (it's 10 pages), click here.


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