A goy.
Joe emails: “The Markopolos testimony was completely devastating. You are too young, but he had the tenor and the ability to answer a question before it was answered that John Dean had in the Watergate matter. He came right out and said that this was a fund that was based on Madoff taking advantage of his fellow Jews and rich European goys who seem to make it a pasttime of getting ripped off by jews. Madoff was so good at what he did, that he even subcontracted the work to “feeder funds” – people who knew rich folks and got them to put money with Madoff. Those feeder funds were paid nicely for their referrals and stuck by the motto of less questions, less answers, kind of a don’t ask don’t tell modus operandi by those giving money to Madoff. These feeder funds founders invested their own money with Madoff so it is clear they did not intentionally defraud their investors since all their compensation from Madoff went right back into Madoff to get 12% a year. Of course, the early investors got to live off the “gains” at the later investors’ expense, and lack of asking questions is usually not a defense. It was clear from Markopolos’ testimony that Madoff’s scam was an exception to the rule in terms of its grandeur, but a pretty routine scam by nature. The SEC is not really there to go after fraud, it is really there to set general rules and hope everyone abides by them on fear of going to jail. But SEC agents do not have the same kind of kick ass tood that FBI agents have. Without a self policing mechanism in the securities industry or paying bounties to whistle blowers, and with this Obama in the White House, my advice is to go to www.tulving.com and buy precious metals. Lots of em.”
