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June 19, 2013
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 Sex and the SECPosted on Dec 19, 2008
Turns out that certain employees at the Securities and Exchange Commission weren’t just asleep at the wheel, as it were, when they should have been paying more attention to Bernard Madoff’s worrisome investment activities.
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By Hemi*, December 23, 2008 at 11:37 am Link to this comment
Thanks samosamo and KDelphi. That’s a nice bunch of creeps to add to my list. I would say that the Repug affairs are rarely as classy as those of the Dems. Is there such a thing as a “classy affair”? I suspect the Dems just a bit better at hiding and denial.
I was saying to my wife the other day “Honey, I think I’d like to run for office!”
She said: “No, you can’t have an affair!”
She’s no fun.
Report thisBy KDelphi, December 22, 2008 at 7:45 pm Link to this comment
GOP Sex Scandal? Gawd, I could never list them all..here are some. Mark Foley, Ted Haggert, Newt Gingrich, Ralph Reed, Jim Bakker, Johnn Bolton, Larry Craig, David Vitter, Bob Allen, Glenn Murphy. Thurmond had a child with a 16 yr old Af Am girl, and he was a blatent segregationist. These are the ones I recall , being reported.
Bob Ney, and many others, are accused of pedophilia. (Some , like Ney, are convicted)
Dubya was accused of an affair with a stripper.(not legally confirmed) Jeb, also.(not legally confirmed) Some of it can be verified, or, has been confessed to (Ney, Foley., Vitter, Gingrich, Bakker, Haggert) and some has not/cannot be.
I would say that both parties are about equally “guilty”, but, the particular problem for the GOP is that they were to “restore dignity to the WH”, and seem to be constantly forming groups to combat one type of moral “infringement” or another, are anti-gay marriage, etc. The number of gay GOP is just unreal, as compared to how they talk.
Report thisBy bearsf, December 22, 2008 at 5:17 pm Link to this comment
Keep Digging/Follow the Money
We KNOW Madofff is a liar by his own admissions. The question is what is the truth behind his lies? Maybe he is a HERO to his clients rather than a villain!
What’s Really Going On With The Madoff Affair?
...“we are frankly dubious that this collection of people who specialized in separating suckers from their money were victimized in the manner being claimed… when one examines its list of clients, there are some powerful names which stand out. The list includes some of the largest banks in the world, like HSBC, Royal Bank of Scotland, Banco Santander, BNP Paribas, Mitsubishi UFJ, and UniCredit; some influential and secretive Swiss banks, like Union Bancaire Privee, Mirabaud & Cie., Notz Stucki & Cie., and Banque Benedict Hentsch; and some major hedge funds like the Man Group and Bramdean; to name but a few of the clients.” http://www.larouchepac.com/news/2008/12/16/whats-really-going-madoff-affair.html
Did Madofff move the money to Israel?
READ http://www.effedieffe.com/content/view/5626/183/
It Will Cost You If You Give Up Your US Citizenship
... little provision inserted into the Heroes Act of 2008, passed by Congress on June 17…which states that anyone voluntarily giving up his or her citizenship will be taxed on all of his assets as if he or she had sold them—paying capital gains on assets that have increased in value, even though they have not been sold.
http://www.mainstreet.com/theres-law-takes-away-money-if-you-leave-us-citizenship
Title III - Revenue Provisions
Section 301 -
Requires 30% withholding of tax for certain items of deferred compensation payable to expatriates.
Imposes a separate tax on gifts and bequests from expatriates exceeding $10,000, payable by the recipient of such gift or bequest.
H.R.6081
Heroes Earnings Assistance and Relief Tax Act of 2008
Sets forth additional rules for the tax treatment of high-income individuals who relinquish U.S. citizenship or residency to avoid U.S. taxation (expatriates). Treats all property of expatriates as sold for fair market value on the day before the expatriation date and includes gain (over $600,000) or loss from such sale in their gross income. Allows expatriates to elect to defer payment of any tax resulting from expatriation if adequate security for payment of such tax is given.
http://www.govtrack.us/congress/billtext.xpd?bill=h110-6081
Report thisBy samosamo, December 22, 2008 at 10:59 am Link to this comment
By Hemi*, December 22 at 7:47 am
Of recent there would be idaho senator larry craig looking for sex in a men’s restroom and before that there was a florida representative, federal or state I don’t remember, propositioning also a policeman for sex in a men’s room at some picknic in florida. Don’t even know if either or both are still in office, craig maybe. Just these two samples leans towards repubs being a bunch of hypocritical gays. Whatever, I don’t trust over 90%of those elected to congress and hardly ever a president.
Report thisBy Hemi*, December 22, 2008 at 8:47 am Link to this comment
samosamo,
Thanks for pointing out my lack of Repugs in the list of “Johns”. It was merely that the top Dems have been known for their sexual liaisons more so. The Repugs have their own peccadilloes I’m sure and more likely in the form of child sacrifices at the Bohemian Grove picnics. I think that’s the deal. Dems sex and Repugs violence. But if you can recall any Repugnican sex scandals please add them on this thread. Not congressmen or anything lower on the old totem “pole”, just big fish.
These flaws in character are how these clowns are controlled from the wings. If they get out of line their reputations and families are at risk.
Why would the current Bush have made the decisions he has? He was told to, plain and simple. He didn’t come up with this crap himself, he ain’t that bright. He’s just the bagman for the unseen bosses. That’s the most frustrating aspect of our system, we don’t know the real culprits. They want us to take it out on the elected clowns. And there’s not much left of our elections. There’s just one party and the gate swings in the wind. When we get tired of the conservative mask they promote the liberal mask. Why was McCain the Repug candidate? He couldn’t win and they didn’t want him to. Obama is the new bagman. They’re already chipping away at his credibility. They want him as president, they also want him crippled. They don’t want him over-reaching like JFK. JFK simply didn’t know who he was screwing with and I don’t mean Judith Campbell Exner.
My point was that this porn scandal is another “Hey, look over here!” deal. What was that scene in Star Wars where the old Jedi waves his hand in front of the space cop and says something like “These aren’t the droids you’re looking for.”
Report thisBy samosamo, December 21, 2008 at 7:31 pm Link to this comment
By Blackspeare, December 21 at 5:02 pm
Good thought, just who benefits from money in an investment account? Certainly not the poor or the people for whom a ‘charity’ collects money. Probably a great tax hide away for the rich while it just grows and grows and grows. And to carry it further, I would imagine that those corporate charity orgainizations such as United Way, cancer, heart, lungs and the big toe, even maybe the red cross like to ‘bank’ their collections for growth for the upper management for their troubles. Just remember, the world is about getting rich at other’s expense. If you are worried about who to be charitable to, give to someone you are sure needs help, pay their bills or buy them some food. But give them money and you just might be giving it to ‘The Man With The Twisted Lip’(see Arthur Conan Doyle’s Sherlock Holmes story.
Report thisBy Blackspeare, December 21, 2008 at 6:02 pm Link to this comment
This may not apply to this thread, but it appears that many charities have lost big money in this scam. Can someone tell me why charities have multi-million dollar portfolios? Aren’t there enough needy for the money to go to rather than invest it?
Report thisBy samosamo, December 21, 2008 at 1:22 pm Link to this comment
By Hemi*, December 21 at 8:43 am
For me your point is very well taken as I am too aware of the supposed izraeli losers in this game. But what a great way for them to ‘get theirs’ at american taxpayer expense, the f**kboys of the world elite. Yet this will do absolutely nothing to motivate the american taxpayer to action of sorts to put the slam dunk on the creeps doing this to us, as you said no dirty language.
Report thisMy opposition to your comment is the list of democrat initials, seemingly leaving out any republican responsibility. That is a big jump of about 8 years you conveniently leave out of history. Or maybe that was your way of adding the democrats to the culpable list. Either way both goddamn parties are part and parcel of the situation but never ever forget the major issues stem from neocons and the last 8 years of w & dick’s bending us all over the coffee table with no kisses and no K-Y. Pass the blame to all, the republicans, the democrats and the somnolent public that can do no more than ‘hope’ it ends with a new batch of elected people which I found to my horror after 2006 with pieces of shit like pelosi and reid, nothing changed and not much of anything got done. Now, for the second election in a row the turnover in congress once again exceeds the 3 or 4% that is has been of late, meaning new faces and new agendas but the thing is, we have to wait to see what happens.
By Hemi*, December 21, 2008 at 9:43 am Link to this comment
The head of the SEC, Christopher Cox (How could I make up sh*t like this? I couldn’t come up with a more fitting name if I tried.) was having the majority of the illicit sex by f***ing the nation. Of course I’m pissed. He didn’t even talk dirty to me.
The peons watching the porn were not responsible for a break down of this magnitude. This story is simply a distraction to allow the puppet masters to escape. People getting their jollies is rarely the crime of importance. Clinton doing Lewinsky wasn’t important. Doing her in proximity to information critical to national security was and that is never brought up. So you see bigger fish, FDR, JFK, RFK, MLK, Clinton to name a few, have always played around but now we’re supposed to sh*t hammer the low level clerks of this huge governmental bureaucracy. That will fix things and put the money back.
The biggest part of this crime has yet to be committed. That will be when the Fed makes the Madoff investors whole again on our dime. Why will they do that? Look at the list of investors, people and charities, and wait six months before you protest that I don’t know what I’m talking about. Until then settle back, keep warm and enjoy some Internet porn. There’s so much more to come.
Happy Chanukah!
Report thisBy KDelphi, December 20, 2008 at 12:56 pm Link to this comment
hippy pam—You may already know that Madoff is out on $10 million bail…if he has $10 m., we should confiscate it!
Report thisBy hippy pam, December 20, 2008 at 12:39 pm Link to this comment
But…WE continue to ALLOW them to GIVE LARGE SUMS OF MONEY WITHOUT OVERSIGHT to these CROOKS….As well as ALLOWING ONE OF THE CROOKS-CAUGHT IN THE ACT-TO RUN AROUND FREE…..Can’t ANY ONE SPELL…...C-I-T-I-Z-E-N-S A-R-R-E-S-T????????
Report thisBy msgmi, December 20, 2008 at 12:15 pm Link to this comment
(Unregistered commenter)
The SEC is a Keystone Cop outfit which needs to be purged of the deadwood and renamed ???? UNDER NEW MANAGEMENT.
Report thisBy KDelphi, December 20, 2008 at 11:42 am Link to this comment
P.T._-Hardly..follow the link to ProPublica, and, then the Office of Investigation pdf report.
The problem , in my mind, was not the porn , per se. It was what they were not doing , instead.
The report shows that management was “aware of numerous shortcomings, lack of expertise by risk managers, lack of timely formal review, persistent understaffing, a lack of independent review, and unwillingness to update models”.
The porn websites had placed numerous (100s) of pics on the hard drives, and, considerable time must have been spent on them. One tried to use them to open a private photography business.
They were supposed to “exercise direct oversight” of five CSE firm: (recoginize these? lol) 1) Bear Stearns 2) Goldman Sachs 3)Morgan Stanley 4)Merrill Lynch and 5) Lehman Bros.
They didnt monitor Madoff, or, anyone else. They were just making money and didnt give a rat’s ass.
Report thisBy P. T., December 20, 2008 at 9:52 am Link to this comment
They may have been porn business analysts. The SEC’s job is to monitor business.
Report thisBy KDelphi, December 20, 2008 at 9:22 am Link to this comment
Well, as far as I can tell, we have more DLCer’s right back in there, so, I guess we should expect it to be more of Cliton-era fckups?
Report thisBy Purple Girl, December 20, 2008 at 8:44 am Link to this comment
What does the Committes in both Houses in regards to financial oversight Do?
Report thisWE now know What they Do NOT Do…So how does Barney et al spend their days while in session.
From ‘94 to ‘06 we Know what was happening…Nothing. But then we got the house in ‘06…No investigation Political or industrial.In fact I’m not sure what Pelosi et al were doing more fervantly ignoring, concealing or complying.
We Know Every ‘Trickle Down’ Neo Con Repug is a national traitor, now we just need to sort out the Dems. should be easy just start with the Clintons and their DLC’ers…But theres more. Those who had Sweet deals long before the Clintons ‘Third Way’ Charade with WallStreet and Multinational Conglomerated Corps. Seems maybe Sen Levin is trying to Right some Wrongs. Redemptions good, But Tokens won’t cut it. It was not only the Big 3 execs who screwed MI, it was the Politicians they’ve had in their pockets,esp those who were talking out of both sides of their mouths (one story for the Unions and a big fat promise to the CEO’s)
I found it astounding that both the Senate & the House had the audacity to ball bust their own cohorts When it has Been Them who enabled this Gutting of the American Auto industry adn the American Worker.
Hell these Politicans not only betrayed US on manufacturing jobs and compensation, they let Wall Street Steal Our money, Lenders to act as Loan sharks and Our Constitution to be used as toilet paper!
I got far more question to ask the Seante & the House then any Auto maker or WallStreet firm CEO.
Their out to make a buck any way they can…What is Congress excuse for letting them do it to the point they’ve destroyed our Country????
I’ve got questions for EVERY single Committe these assholes sit on!Finance,commerce, Housing, Armed Services, ETHICS…!!!
Every one of these committees should be opened up and required to provide answers totheir BOSSES. If we can have a UTube Debate, We can Have a UTube Inquistion!!!
By Terradea, December 20, 2008 at 8:07 am Link to this comment
(Unregistered commenter)
Why mention the porn? Ridiculous. The crimes were circumventing computer security and running a personal business using SEC resources. Why does porn make it any worse?
It sounds like the SEC is out of control and doing exactly what it wants with no oversight or accountability (think Bush era) and failing miserably at its role (think Bush administration). And the article focuses on SEX???
Report thisBy KDelphi, December 20, 2008 at 12:52 am Link to this comment
Yeah I dont give a rat’s ass about the porn—they should do it on their own time.
I think that they let it go, because they stood to gain from this joke of a market.
People here get so “in awe” of these big “free market” gazzilionaires, that they just assume that they must be doing something right, cause hey, they are rich, and that is the epitome in capitaslim, right?
Report thisBy Thomas Billis, December 19, 2008 at 10:40 pm Link to this comment
Why not be watching porn?It is exacly what the Wall Street Types were doing to investors.
Report thisBy samosamo, December 19, 2008 at 10:39 pm Link to this comment
By Folktruther, December 19 at 9:04 pm #
‘These regulatrory agencies are a corrupt farce.’
Report this*******************************
The real definition of amercian capitalism, where there is no transparency, regulation, oversight or accountability. And I would bet that those in congress that would be in oversight of this part of our economy can very easily be impeached for their malfeasance of office. But just as cheney will not be prosecuted for his recent admission of ordering and condoning waterboarding which carries the death penalty for such, will not be tried in a court, just as there will be no impeachment for those guilty of lack of oversight.
Everybody may think that being compassionate about these criminals is the way to handle them but if that is how goes and none of them are prosecuted, the harm will be very great. Then, even more criminal minds will infect our country for their share of the pie. And blue dog pelosi should be at the top of the list for impeachment.
By Folktruther, December 19, 2008 at 10:04 pm Link to this comment
Who cares about this trivia. What this piece doesn’t say is that the head of the group that was supposed to investigate Madoff was sleeping with Madoff’s daughter and later married her. These regulatrory agencies are a corrupt farce.
Report this