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Mini-Madoffs Pile Up
Call them the mini-Madoffs. They may have stolen from investors a fraction of Bernie Madoff’s $50 billion haul, but others caught running Ponzi schemes have been turning up in record numbers in recent weeks. What’s causing them to surface now? The New York Times reports it’s a “combination of a deteriorating economy and heightened skepticism about outsize returns after the revelations about Mr. Madoff.” Among the gems The Times digs up: New Yorker Nicholas Cosmo (he promised 48 to 80 percent returns), Haitian immigrant George Theodule (“man of God”), and Arthur Nadel (Sarasota philanthropist), as well as disgraced Clinton donor Norman Hsu (remember him?).
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SmilinJon
Perhaps I have the perfect method of retrieving the missing funds: Give these guys 1 year imprisonment for EVERY $1 million NOT returned to the investor. I imagine that offshore accounts would magically appear!
writerforhire
There are always these types of scam artists running around. The ones not in the Times are those who exploit the tragedies of Victims and solicit funds from celebrity do-gooders and hide behind Harvard degrees. Also, those who create situations of sorrow to bilk their congregations; The best one I've ever heard was after the preacher's wife, whose husband created a lifelong ministry on her alleged 27 cancer operations,(no medical records) spread cancer to his daughter's and then his granddaughter developed brain cancer and subsequently died (2002) only, to be resurrected (when she got a little older and her appearance changed) using a different name. He was hoping for 75,000 in donations. I mean, if a preacher can't get 75,000 from a dying grandchild what is this world coming to?
GoodDay
Every big-time and small-time con artist knew that in George W. Bush's unregulated markets they could get away with more than murder, they could defraud people to their heart's content and never get punished. Even today we're letting these big-time crooks like Madoff stay at home in their mansions instead of doing hard time in prisons. As more and more people realize that their futures are destroyed, we probably won't be half so lenient or forgiving.
This comment has been removed by The Daily Beast's editors.
This comment has been removed by The Daily Beast's editors.
Dynisty
To SmilinJon...you have the best idea I've heard...My idea is too radical...
To writerforhire, GoodDay, wileysnakeskins...Check out these web sites...
http://video.google.com/videoplay?docid=6076118677860424204 and http://en.wikipedia.org/wiki/Rothschild_familyhttp://en.wikipedia.org/wiki/ Rothschild_family I found them very interesting. Just some information to review for your own thought.
I believe what has happened, has even gotten out of the hands of the corrupt people who started it...there will now be a scrambling of rats off this sinking ship in the economic sea. People who move numbers on paper and call it money...but these numbers on paper have no actual value. It also seems that each time one of these financial collapses takes place, there are new rules made. Making it more and more difficult on the average person to just have a decent life. (BLAH,
BLAH)
But, guess what? They'll be going down too...maybe later than us here in steerage, but the ship will go under. Hope you have your own raft.
I heard a saying from a farmer once:
"You can't eat gold and you can't drink oil"
We need to all of us follow this and keep an eye on our representatives. It's all here in the web...Gov web sites, wikipedia...even YouTube. We can use this forum maybe to our advantage.
Good Luck to us all....all over the world.
Dynisty
Sorry, I didn't verify those web sites before I sent them. Google Rothschild...then choose Rothschild family - Wikipedia, the free encyclopedia. Then Google Money Masters...Choose Money Masters 1 - 2. Also for an obscure inturpretation of finances, watch a movie called 'When Women Lost Their Tails"...it's a wild annalogy of how trade money/finance got started. That's how I saw it.
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