Posted on 03/15/2009 7:11:25 AM PDT by Liz
Saddest part is that individual investors can recoup $500,000 from SIPC---but groups invested have to split the $500K.
Would it save you time if I just made </sarc> my tag line?
Liz
And, of course, the NASD, now FINRA, might have responded to your actions, sending out press clippings to people, as “Unauthorized Sales Literature” and YOU might have gotten in trouble.
There are also rules against financial professionals creating a “run” or a “panic”.
This, unfortunately, is part of the regulatory system that financial people have to work under.
Madoff- should have fled the country - and joined Clintoons
Friend -Marc Rich!
could Come back as the darling of the Demonrat party -
after Obama pardon’s him.
yup. Welcome to the "other" suckers club. You can bet the regulators are *NOT* going to the woodshed over this...
I've been Series 7 long enough to remember when new account applications were 2 pages long. One signature.
Now they are 20 to 100, depending on the type of account. Too many signatures to count.
Bernie Madoff, whose $50 billion Ponzi scheme is the biggest purported fraud in history, reportedly gave out thousands of dollars to lawmakers in Congress.
Fox News reported Sen. Charles Schumer tops the donor list of Madoff and his family, at $29,300. Schumer's office said it had donated $8,000 of the stash to police and fire endowments.
Others who got donations from Madoff or his family were Democratic NJ Sen. Frank Lautenberg, who got $11,600; Hillary Rodham Clinton, who got nearly $9,000 for her Senate and presidential campaigns; disgraced former Republican Rep. Vito Fossella and Democratic Rep. Carolyn Maloney, who both collected $3,000; and Democratic Rep. Charles Rangel, who received $2,000. Maloney has said she'll give back the donation, the station said. SOURCE http://www.nypost.com/seven/03052009/news/regionalnews/madoff_gave_thouands_to_pols_158062.htm
Israel will not allow extradition for financial crimes. So the subject of one or the other of the Madoff’s fleeing the country and not coming back, is a real concern.
Mmmmmmmm...........it is true that the Madoffs have numerous connections to Israel and Israeli banks (some are on US soil).
OTOH, Israel does not like to be known as a haven for criminals......especially financial criminals.
When Israel was named a top global money laundering haven, the Knesset tried and tried to change the laws---it was Orthodox political parties that balked and put a stop to it.
And when the upstate NY Orthodox rabbi fled to Israel to escape US justice for looting millions from US government agencies and Pell Grants, Israel sent him back.
It was the Clintons who pardoned the crook (and his New Square cohorts) to buy Senate votes for Hillary.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.