Skip to comments.Madoff to NY magazine: Government a Ponzi scheme
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 ...
He should know. He was the ultimate master at it.
Everybody but the Democrat voters know.
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.
Well Social Security sure as heck is...
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.
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.
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.
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.
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.
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!
I think the narcissistic jack is right!
...and they will not tolerate a threat to their monopoly!
No congress abrogated that responsibility to the Fed Board. Now we have unelected idiots deciding U.S fiscal policy.
Of course it is. No sane person can doubt it.
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.
Amtrak and postal workers agree.