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Madoff to NY magazine: Government a Ponzi scheme
AP ^ | 2/28/2011 | AP

Posted on 02/28/2011 7:10:17 AM PST by mewykwistmas

NEW YORK (AP) -- Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.

"The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators. ...

Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: bernardmadoff; berniemadoff; madoff; ponzi

1 posted on 02/28/2011 7:10:19 AM PST by mewykwistmas
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To: mewykwistmas

He should know. He was the ultimate master at it.


2 posted on 02/28/2011 7:11:44 AM PST by LibFreeUSA (Show me what Obama brought that was new and there you will find things only radical and destructive.)
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To: mewykwistmas
Bernie would know.
3 posted on 02/28/2011 7:12:08 AM PST by E. Pluribus Unum ("If they bring a knife to the fight, we bring a gun." -- Barry Soetoro, June 11, 2008)
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To: E. Pluribus Unum

Everybody but the Democrat voters know.


4 posted on 02/28/2011 7:16:52 AM PST by Loud Mime (If it is too stupid to be said, people will listen to it, if sung - - Voltaire)
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To: mewykwistmas

I suspect that Bernie is going to have another “accident” in prison. When the king of ponzi schemes reveals that government is a ponzi scheme, somebody might decide to shut him up.


5 posted on 02/28/2011 7:17:13 AM PST by ClearCase_guy
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To: mewykwistmas

Well Social Security sure as heck is...


6 posted on 02/28/2011 7:17:59 AM PST by Little Ray (The Gods of the Copybook Heading, with terror and slaughter return!)
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To: mewykwistmas

While Madoff may know, and I may actually agree with some stuff he says, this guy is evil. So, I don’t want to hear it. Quit giving this filth a platform.

Just let Bernie go back to being some bad man’s girlfriend.


7 posted on 02/28/2011 7:18:14 AM PST by brownsfan (D - swift death of the republic, R - lingering death for the republic.)
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Comment #8 Removed by Moderator

To: mewykwistmas

This bastard is correct.

How can he be blamed for a massive ponzi scheme when the government does it thousands of times worse each day.


9 posted on 02/28/2011 7:22:40 AM PST by Mr. K (Job #1 is to DEFUND THE LEFT~!!!!)
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To: ClearCase_guy
I suspect that Bernie is going to have another “accident” in prison.

The fact that he's still alive, and his remaining family isn't in jail, tells me he's got "an envelope" parked at his attorney's office. In the event he's killed in prison, we'll see the full run of who got paid what.

10 posted on 02/28/2011 7:24:47 AM PST by NativeNewYorker (Freepin' Jew Boy)
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To: mewykwistmas

11 posted on 02/28/2011 7:25:15 AM PST by camerongood210
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To: brownsfan

It’s a pretty typical statement from “smart” criminals.

Blatant government corruption encourages thousands like him to get their start since working inside the system leaves you at the mercy of a corrupt government.


12 posted on 02/28/2011 7:28:12 AM PST by varyouga ("The hardest thing in the world to understand is the income tax." - Albert Einstein)
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To: mewykwistmas

I’ve used that metaphor a lot myself.

But Congress at least has the power to coin money, regulate the value thereof, and borrow money on the faith and credit of the United States.

Bernie Madoff does not.


13 posted on 02/28/2011 7:29:48 AM PST by Jim Noble (House GOP: If you can't stand the heat, get out of the kitchen.)
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To: mewykwistmas
social security, and in fact, the entire new deal and welfare state are ponzi schemes.

And just like the Madoff investors left holding the bag they are now pissed that they can't get “theirs” like the early investors did!

All those protesters in Madison right now are just ponzi scheme victims!

14 posted on 02/28/2011 7:30:42 AM PST by TexasFreeper2009 (Obama = Carter 2.0 The Epic Fail Edition)
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To: mewykwistmas

I think the narcissistic jack is right!


15 posted on 02/28/2011 7:44:51 AM PST by Dudoight
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To: mewykwistmas
Madoff to NY magazine: Government a Ponzi scheme

Damn right!!!!

...and they will not tolerate a threat to their monopoly!

16 posted on 02/28/2011 7:47:58 AM PST by Tex-Con-Man
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To: Jim Noble

No congress abrogated that responsibility to the Fed Board. Now we have unelected idiots deciding U.S fiscal policy.


17 posted on 02/28/2011 7:49:10 AM PST by soupbone1
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To: LibFreeUSA

Of course it is. No sane person can doubt it.


18 posted on 02/28/2011 7:54:23 AM PST by PUGACHEV
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To: mewykwistmas

Well duh.


19 posted on 02/28/2011 8:04:24 AM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: mewykwistmas

Madoff is an insignificant schemer next to BO, Reid and Pelosi. Madoff ripped off a few wealthy people while BO and his gang rip off every taxpayer. I made this statement several months ago in the Boston globe—you can imagine how popular I was.


20 posted on 02/28/2011 8:13:01 AM PST by Neoliberalnot ((Read "The Grey Book" for an alternative to corruption in DC))
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To: Tex-Con-Man

Amtrak and postal workers agree.


21 posted on 02/28/2011 8:59:42 AM PST by Vaduz
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