Madeoff's 50 billion scam is yet another

[svfox]

belt to the stomach of the American economy.

By the time Bush gets out of office there won't be any money left.
We need some serious regulations and we need them enforced.


Steven
http://unitedstatesvicepresident.com - news and politics.

 

[denny007]

By the time Bush gets out of office there won't be any money left.

Don't worry Obama will print lot of new ones

 

[fab]

We need some serious regulations and we need them enforced.

Isn't theft already a crime?

 

[copper]

I can see it coming.
Sub prime mortgage problem - $1 trillion? (Now) =>
Alt-A and option ARM problem - $1.5 trillion? (coming up real fast) =>
Commercial property problem (coming) =>

To top it all off...
Govt. keep printing out piles of fresh $ =>
Guaranteed way to HYPERINFLATION =>

Great Depression in sight.

Rinse and repeat.

 

[DomainMagnate]

I'm still buffled on how this guy managed to do it?

Sergey Mavrodi created MMM in Russia in early 1990's and scammed 10-20 million Russians with his ponzi. That's 10% of the country's population! It's considered among the biggest scams in history, Yet he only had a few billion dollars from it, but 50 billion..

 

[Seraphim]

Bernard Madoff, the man that officially shit-canned the idea of "Karma"... though on the other hand I could see that eventually forcing millions of grungy hippies to come up with one original idea, which in turn may quite possibly explain Bernard's good Karma in the first place. I just don't know...

 

[copper]

I'm still buffled on how this guy managed to do it?

Sergey Mavrodi created MMM in Russia in early 1990's and scammed 10-20 million Russians with his ponzi. That's 10% of the country's population! It's considered among the biggest scams in history, Yet he only had a few billion dollars from it, but 50 billion..

In Russia, victim was individual since you said 10 - 20 million Russians.
Madoff's victims are mainly institutions and very rich people if individual.
He was former NASDAQ chairman, running legit wallstreet firm, paid as promised,
didn't solicit investment...