Thursday, March 12, 2009

What I Want to Know About Madoff Is...

Why doesn't the Lamestream Media discuss the fact that Ponzi scheme criminal Bernie Madoff is a Democrat - who has supported lots of prominent Democrats?

Whenever a Republican is found guilty of a crime, the media is all over it - spewing hatred against not only the person who was the perpetrator of the crime, but making sure that everyone knows that he or she is a Republican.

Why the double standard? Do I even need to ask such a question?

No. Of course not. We all know the answer already.

Here's what my brief investigation turned up this morning:


Party: NA Reply #11

Date: Dec. 16, 2008 - 10:27 AM EST

Let's not hear about democratic or republican corruption. There is plenty to go around. Let's start with those in power, and demand real change. Starting with Rahm Emanuel and Harry Reid. Rahm is a very rich man in a very short time via banking. (yes, he is a greasy politician) Reid: let's look closer at this man. His sons are lobbyists with shady dealings Rangel: Pursue this guy. Pressure Pelosi Barney Frank: His ties to Freddie and Fannie Mac Dodd: His ties to
countrywide and Fannie/Freddie Biden: His son's lobbying to him for the credit card companies. Let's see where this brings us for starters. I'm keen on those in power, the republicans can come next. Where is my dam bailout. I lost 20K in Global Crossings stock investment. Terry McCaullife made I think somewhere around 20 million with Global Crossing insider dealing in 2-3 years. Gee. Where is our country's outrage.

Party: Independent Reply #12

Date: Dec. 16, 2008 - 10:34 AM EST

DEMOCRAT MADOFF. Hey hypocrite liberals, why don't you clean up your own back yard before sticking your NOSE up the "...." of the GOP?

Reply #13

Date: Dec. 16, 2008 - 10:37 AM EST

Do you remember all the outrage over the Enron scandal, and the endless hearings? The intense probing by members of Congress over the shameless greed exhibited by Enron executives? Do you think we'll be seeing the same level of interest by members of Congress into the inner workings and villains involved in this scandal, which makes Enron look like a drop in the bucket? Since it appears that powerful Democrats were closely involved (Schumer, Lautenberg, et al), that seems very unlikely, doesn't it?

Party: Independent Reply #14

Date: Dec. 16, 2008 - 11:14 AM EST

Working Elephant: Dec. 16, 2008 - 10:37 AM EST
Since it appears that powerful Democrats were closely involved (Schumer, Lautenberg, et al)

lets not slap this guys fingers-lets put him away for life-its the only way this kinda stuff will ever stop-usually these animals figure in the cost of punishment before they do this stuff-lets make the cost way to high to even think about it

Working Elephant
Party: NA Reply #16

Date: Dec. 16, 2008 - 11:54 AM EST

"Involved" as in received substantial contributions from Madoff and his family (see the above article for quotes), and Lautenberg, who also received contributions and lost a substantial amount of money (see the article above). Did you actually read the entire article?

Party: Independent Reply #17

Date: Dec. 16, 2008 - 12:11 PM EST

Working Elephant: Dec. 16, 2008 - 11:54 AM EST
"Involved" as in received substantial contributions from Madoff and his family

That doesn't make anyone "involved" in anything... it just means Madoff
contributed to a campaign. Nothing more, nothing less.

Should we also say every republican that received campaign contributions from
Madoff and his family is involved in some scheme? because there are quite a few.

The Ed
Party: N/A Reply #18

Date: Dec. 16, 2008 - 12:22 PM EST

TeamPolitico: Dec. 16, 2008 - 4:45 AM EST
The unfolding scandal surrounding Madoff will clearly have one effect, his lobbyist said. “The upshot you’ll see out of this is a lot more regulation of the securities industry,”

TeamPolitico: Dec. 16, 2008 - 4:45 AM EST
Within a day of the Dec. 11 arrest of Wall Street financier Bernard L. Madoff, his Washington lobbyists were scrambling to sever all ties to a man who’s been accused of a $50 billion fraud and who may go down in history as the largest financial scam artist ever

like ENRON some years ago , the bigwigs' friends and allies are now repudiating.....

cruel world of finance, like in politics, once you are in disgrace no one stands by you not even those you have helped much ...or should I say, especially those you have helped

" Spread the Wealth " start with the Obamas, Biden and Clinton

Party: Liberal Reply #19

Date: Dec. 16, 2008 - 12:34 PM EST


I can't believe the Politico can't bring itself to mention that nearly 100% of
Madoff's political contributions are DEMOCRATS.

John R. Lott: Bernard Madoff a Democrat

Copy of blog post:

Bernard Madoff a Democrat
In writing my book Freedomnomics, I started keeping track of the political affiliation of prominent criminals. Needless to say, Madoff is not unusual. John Fund has this over at the WSJ's Political Diary:

Bernard Madoff, who appears to be the perpetrator of the largest financial fraud ever, was a politically active player in Washington. He paid the lobbying firm of Dow Lohnes Government Strategies some $400,000 over the last decade to buttonhole regulators and Congressmen.

The Madoff clan were also large donors to political candidates. They donated over $380,000 to individual politicians and political action committees since 1993, most of it going to Democrats but with a few prominent Republicans thrown in, such as scandal-tarred Rep. Vito Fossella of Staten Island.

As late as September of this year, Mr. Madoff was still giving generously to his favorite political cause: the Democratic Senatorial Campaign Committee headed by New York Sen. Chuck Schumer. Mr. Madoff contributed $25,000 in September, bringing his total donations to the DSCC to $100,000 over the last three years.

Mr. Schumer, who has assiduously cultivated Wall Street for years, also benefited individually from Mr. Madoff's largesse -- taking in $39,000 from the Madoff family for his 1998 and 2004 Senate races.

"The great irony here, from a political perspective, is that Republican lack of oversight allowed a lot of well-connected Democrats -- like Madoff -- to run wild," says Joel Kotkin, an urban affairs analyst who is a fellow at the liberal New America Foundation. "Now Obama will have to deal with a series of scandals and meltdowns that have taken place within a financial community -- particularly hedge funds which may be the next locus of the financial crisis -- that have been tilting what is now considered 'left.' It was so much simpler in the old days when the GOP could be easily identified as the party of 'big greed' while most Democrats concentrated on 'little greed,' like government payoffs and sweetheart contracts."

Mr. Kotkin told that Democrats should worry about increased scrutiny of hedge funds, especially those run by traders such as George Soros:
"They are more big-time backers of the Democrats, and may be exposed in the next turning of this potboiler reality we are now experiencing. It could get a bit scary."
Labels: CharlesSchumer, Crime, Democrats

posted by John Lott at 1:03 PM

******* Dem Donor Bernard Madoff Busted in Massive Ponzi Scheme

December 12, 2008
Dem Donor Bernard Madoff Busted in Massive Ponzi Scheme

If BHO is still looking for staff, I know just the guy to oversee Social Security — provided he can do it from a prison cell:

Bernard L. Madoff, a former chairman of the Nasdaq Stock Market and a force in Wall Street trading for nearly 50 years, was arrested by federal agents Thursday, a day after his sons turned him in for running what they said their father called "a giant Ponzi scheme."

The Securities and Exchange Commission, in a civil complaint, said it was an ongoing $50 billion swindle, and asked a judge to seize the firm and its assets.

"Our complaint alleges a stunning fraud that appears to be of epic proportions," said Andrew M. Calamari, associate director of enforcement in the SEC's New York office.

In a separate criminal complaint, Federal Bureau of Investigation agent Theodore Cacioppi said Mr. Madoff's investment advisory business had "deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in losses of approximately billions of dollars."

Don't be too quick to brand Madoff a villain; he's actually a generous guy:

Maybe Madoff thought if he made enough contributions to Democrats, he could get away with his scheme indefinitely. It worked for Freddie Mac and Fannie Mae — for awhile. The more our economy comes to be based on bailouts, the more standard this will be as the way to do business.

Hat tip: DANEgerous.

Posted by Van Helsing at December 12, 2008 7:09 AM

(D)emocrats take their campaign contributions, Bush puts 'em in jail.

Trust me... this'll be the last bust for a while.

Posted by: DANEgerus at December 12, 2008 7:36 AM

he apparently loves his dhimmicrats!

Posted by: nanc at December 12, 2008 7:49 AM

Look another demacrook supporter bites the dust

Posted by: Spurwing Plover at December 12, 2008 8:06 AM

DANEgerus, I certainy hope that's not the last one! We've obviously got a rat's nest on our hands. There's alot of work to be done before 1/20.

Posted by: Karin at December 12, 2008 9:14 AM

"deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors"

But it's a Democrat tradition. Just expanded from Hillary's commodities trading scheme, which was essentially the same scam.

Posted by: Bill at December 12, 2008 1:11 PM


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