‘a knife and Pills were found nearby’???
If The Bush years have done nothing good,thye atleast made US more inquisitive, suspecious.
What any good citizen of a Democratic society should aspire to.
So this hedge fund Mgr. began legal proceedings? Against Who? Maddoff? The SEC? Cox himself?
And a Knife & pills ‘found nearby’...What’d he do swallow pills and begin stabbing himself until the point he could still Throw the knife aside?How far did ‘he’ throw it? If your going to stab yourself, Why bother taking pills? and why go from a more subtle form of suicide, but then escalate to a violent, messy suicide..why not just take more pills? How many times did this guy Stab himself? What was he aiming for? hearts pretty easy to locate.
Just because someone is distraught, does not mean they suddenly become stupid or illogical.
If you’re going to go by pills, through a little alcohol in for good measure.
If you’re going to stab yourself,go for the heart or the Jugular vein or the femoral artery.
People don’t try to kill themselves in the most slow painful way, usually quick and painless is the MO.
This one stinks like the Anthrax ‘Mad Scientist’ suicide.

au contraire!

There are MILLIONS of non-wealthy victims of the subprime mortgage fraud! The only investment those folks made was the payment on their home! Or their rent payment!

Perhaps I didn’t make myself clear.

Sorry about that.

11/29/2007 3:05 PM “WASHINGTON — “Mounting home foreclosures will have “profound” effects on the economy next year, reducing job growth, bleeding billions of dollars in tax revenues and hitting consumer spending — but shouldn’t push the country into a recession.”

[We were already in a recession when brilliant Bernanke made that profound observation!]

“Federal Reserve Chairman Ben Bernnanke in testimony to Congress earlier this month noted that, on average, nearly 450,000 subprime mortgages will reset every calendar quarter from now until the end of 2008.”

“Avoiding the payment shock of an interest rate reset by refinancing the mortgage will be much more difficult, as home prices have flattened out or declined, thereby reducing homeowners’ equity, and lending terms have tightened,” Bernanke noted. He said rising foreclosures could reduce property values, weaken struggling housing markets and the economy.”

That was back in Novembor 2007.

What Bernanke failed to note was the number of un-prepared people who didn’t know they had been locked into an interest rate reset. And the number of renters living in a house locked into an interest rate reset, who ended up homeless when their landlord couldn’t meet the reset. And the volume of mortgages bundled and being sold at inflated value, and how quickly speculators would drive up that artificial value even more!

After all, why should they slow down? No-one was watching, or cared.

What he failed to note was how many folks in the construction industry would have to shut their business down, or get laid off. What he failed to note was how severly this would impact the value of the dollar. And how that in turn would affect credit that keeps business going and people employed!

But then he failed to understand what the national debt would do to the value of the dollar, and the run-away oil speculation would do to the value of the dollar. And how certainly, ever-dropping interest rates, would force the value of the dollar down even more!

And the dummy’s still doing it!

Banks don’t give money away, no matter how much gets printed! Until interest rates go up, and the value of the dollar stops falling, there will be fewer and fewer loans, even interest only! Zero point five zero, barely covers the cost of keeping the doors open!

So that sorta makes every one of us a victim, and I think you will agree, most of us are very non-wealthy!

So go ahead and be cynical, it’s OK. Right now we all feel a bit cynical. At least as far as Bernanke, the fed, Paulson, the treasury, and the Wall Street Wizards are concerned!

Done nothing wrong?  Yeah, uhhh…  OK.  Anyone who invests in markets does something wrong, by helping to feed the capitalist machine.

Louise…

You said, “A CNBC “documentary” showcased a parade of wealthy Madoff victims.” But where is the parade showcasing the NOT wealthy VICTIMS of the mortgage brokers and subprime speculators who committed fraud and theft from the working class?

The answer Louise is simple, there are no “unwealthy” victims of the scam.  It was a hedge fund and to partake you need a substantial investment.  Its a case of the greediest eating the greedy.  But not to worry, those investors who got in and out early made good money—-now where are they or are they hiding behind their creative tax avoidance techniques.

Gee, do I sound cynical??!!

Here’s another good opportunity to lay some blame on mainstreammedia.

~~~

“For the past week, he had tried day and night to find a way to recoup his investors’ money and had begun legal action in the US against the authorities.”

~~~

Meanwhile, mainstreammedia reports Madoff’s misbehavior but ignores the story of politicians, who created the regulation and control free zone, that made the big rip-off possible. Which leads me to wonder, was it the investors after Villehuchet, or the need to silence action against the authorities?

OK I know ... paranoid.

Victims We Can Relate To
http://www.alternet.org/workplace/114827/?page=1

“... the investors he [Madoff] ripped off later became “sympathetic victims” in our media—like Steven Spielberg—as opposed to subprime home borrowers who were often demonized as schemers and told they were naïve and should have known better. A CNBC “documentary” showcased a parade of wealthy Madoff victims.”

~~~

But where is the parade showcasing the NOT wealthy VICTIMS of the mortgage brokers and subprime speculators who committed fraud and theft from the working class? They are every bit as criminal as the “Wall Street Sultan of Sleaze” who stole from the rich! Will mainstreammedia ever step up and call them, and the politicians who devoted their careers to eliminating controls and regulations that prevent fraud and theft, criminals?

~~~

“One financial analyst said that some of his investors assumed he [Madoff] was doing something illegal—perhaps insider trading—which is why they wanted him to manage their money.  They thought they would make more money that way without taking normal risks.”

~~~

So who are the naïve who should have known better? This is a classic case of con-man conning con-men.

~~~

“That’s what a con man is—a confidence man is somebody that engenders a relationship and then subsequently lures somebody into doing something that they shouldn’t do.”

~~~

But the victims of subprimers and speculators have always been told to trust the expert, lest they get hurt. It wasn’t a matter of knowing better. It was a matter of believing that trusting the expert was doing the right thing. And that trust began with their real estate broker. I guess we could liken their victimhood to victims of a well organized criminal empire. Too many layers of guilt and no-one knows the Godfather.

At least Madoffs victims can focus in on one guy! And of course mainstreammedia will keep on asking us to feel pain for their victimhood. While reminding us to continue blaming the less wealthy victims for the housing bubble collapse.

With any luck, Mort Zuckerman will follow suit.

“made-off”-“ole bullshit”-chain-me”-.....These are just SOME of the CRIMINALS who SHOULD PAY-WITH THEIR LIVES-for the multiple crimes they have perpetrated…..But it WON’T HAPPEN….We-THE VOTERS-will not BITCH LOUD ENOUGH to MAKE OUR ELECTED OFFICIALS DO WHAT IS RIGHT!!!

I credit him with having the stones to fall on his own sword. Too bad Madoff and the rest won’t.

Cyrena: There is more money to be made by locking up potheads, as opposed to making it legal. Plus it’s a good reason for Big Brother to keep an eye on you. Why would they give up a perfectly good club to use against us?

I’m just sitting here reflecting (obviously not for the first time) of how totally unfair the criminal justice system is in this country.

After ALL this guy has done, and ALL the misery he’s directly or indirectly created, he is under electronic ‘house arrest’ (meaning he can’t leave his PENTHOUSE without notifying authorities) while hundreds of thousands of other folks are under lock and key for smoking a joint.

But then, this should be no surprise. We’ve had even worse criminals than him in the seat of power for 8 years.