The Believers: How America Fell For Bernard Madoff's $65 Billion Investment Scam
The Daily Salty (Free subscription) | 20/11/2009
This is quite interesting. Usually the IT folks stay away from fraud and issues like this which are usually created and driven by the front office pukes. If the business gives a programmer a set of business requirements or it provides them with instructions to make changes to programmes, data or workflow, they never question the content, they might question the impact on performance, capacity, capability...
KY3 News (Free subscription) | 3 hours ago
ONWARD The U.S. Senate votes 60-39 in a rare Saturday evening vote to proceed with debate on historic healthcare legislation after the Thanksgiving break. Strict Party Line Vote -- Sen. George Voinovich of Ohio was absent Sen. Claire McCaskill AYE , Sen. Kit Bond NO Three Democrats voted to move debate along, but still expressed concerns with details of the legislation, including a government-run public...
A Western Heart (Free subscription) | 2 hours ago
Great post here by Doug Ross on the warning afforded by what was the wealthiest country (GDP per head) a century ago: Argentina, now a veritable basket case. Government entitlement programs are (compulsory) Ponzi schemes - Bernie Madoff on steroids; early adopters get the benefits (hence Peron's populatiry) and later arrivals/generations get the bills. It takes very little cultural/economic sophistication...
The Real Revo (Free subscription) | yesterday
Sen. Blanche Lincoln of Arkansas was the last of three Democratic holdouts to announce her support for the procedural vote. She will vote for cloture on the Democrats’ government medicine bill tonight. The Democrats now have 60 votes and will be able to move forward debate of government medicine. “Move over, Bernie Madoff. Tip your [...]
The Corner (Free subscription) | yesterday
Earlier today: "Move over Bernie Madoff," said Sen. Christopher Bond (R., Mo.). "Tip your hat to a trillion-dollar scam."
Fairly Conservative (Free subscription) | yesterday
I’ll admit it. I didn’t catch it. It’s a plan Bernie Madoff would be proud of. Until I heard Sen. Judd Gregg (R), New Hampshire, point it out yesterday on Fox it never crossed my mind. What is it ? It’s the scheme the Democrats concocted to make the cost of their proposed healthcare plan appear [...]
BankNoise (Free subscription) | yesterday
Some analysts are “suspicious” on China GDP data real consistency, that official data report grew +8.9% in Q3 2009 (y/y). Barry Ritholtz calls them ‘Bernie Madoff data‘, pointing out a lack of transparency on them. Forbes’ Gordon Chang highlights that GDP growth is inconsistent with China’s export in the quarter (-23.0% in July, -23.4% in August [...]
The Cynical Economist (Free subscription) | yesterday
From Human Events by Roger Hedgecock Though private fraud gets the bigger headline (think Bernie Madoff), fraud in federal government programs is now so pervasive that even the Obama press is taking notice. The scope of fraud in all federal programs dwarfs the corruption in the private sector the media loves to sensationalize. Consider the fraud in [...]
KeNo's Housing and Economic Portal (Free subscription) | yesterday
KeNosHousingPortal.blogspot.com TOP STORIES : Lenders abandon properties - ( www.daytondailynews.com ) Owner, neighbors, city left to deal with a home that no one has any incentive to improve. As if the mortgage foreclosure crisis wasn’t bad enough, sometime last year a new phenomenon began to emerge: Experts say mortgage lenders and banks began walking away from foreclosed properties, especially...
Red State (Free subscription) | 20/11/2009
Roger Hedgecock has the top story at Human Events today. Though private fraud gets the bigger headline (think Bernie Madoff), fraud in federal government programs is now so pervasive that even the Obama press is taking notice. The scope of fraud in all federal programs dwarfs the corruption in the private sector the media loves to sensationalize. Consider the fraud in the Wall Street bailout. Here’s...
Hyscience (Free subscription) | 20/11/2009
As the NY Post makes crystal clear , Senate Majority Leader Harry Reid's touting of his unveiled health care bill as having a Congressional Budget Office analysis suggesting it would cost $849 billion over 10 years - is in fact, three times that figure. All gimmicks aside, the 10-year cost of actual implementation of the Reid bill is a staggering $2.5 trillion. In other words , only a Bernie Madoff...
eJewish Philanthropy (Free subscription) | 20/11/2009
by Sarah Kass Who can forget December 11, 2008? On the day Bernie Madoff was arrested, millions if not billions of (Jewish) philanthropic dollars went up in smoke. Since then, surviving Jewish philanthropists have rearranged their investment strategies and surviving Jewish»
ABC News (Free subscription) | 20/11/2009
Prosecutors: South Carolina men, calling themselves '3 Hebrew Boys' ran Ponzi scheme Charles Ponzi - United States - South Carolina - Society and Culture - Bernard Madoff
Miami Herald (Free subscription) | 20/11/2009
The Securities and Exchange Commission must tighten its process for deciding which investment advisers to inspect if it is to avoid colossal breakdowns like the one that allowed Bernard Madoff's multibillion-dollar fraud to go undetected for 16 years, the agency's inspector general says.
Seattle Times (Free subscription) | 20/11/2009
The Securities and Exchange Commission must tighten its process for deciding which investment advisers to inspect if it is to avoid colossal breakdowns like the one that allowed Bernard Madoff's multibillion-dollar fraud to go undetected for 16 years, the agency's inspector general says.
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