Scandal
Bernard Madoff chairman of Bernard L. Madoff Investment Securities LLC is charged with largest investor fraud committed by a single person.
Asset Management business run by his firm was a big lie. Liabilities run approximately 50 billion dollars. Company used to make fictional stock trades and then even showed them in the monthly statement. This was a clear case of Ponzi Scheme where authorities are looking for cash in and cash out.
In Ponzi Scheme returns to the investors are paid through the investments made by the subsequent investors or from the own pockets rather than from profits.
This requires continuous flow on money for the scheme to continue otherwise it collapses. It is named for Charles Ponzi who started this scheme after emigratinf from Italy to US.
Coming back to Madoff scandal, Banks expects potential loss of billions because of this scandal. The Madoff's firm is now under liquidation. Real Estate Industry is also feeling the heat because of the brokers and developers had hevily invested with the firm.
In an another twist in the tale Madoff scandal is brewing anti semites feeling.
Madoff was a Jewish and many investors were also Jewish. There is a conspiracy theory which claims that Jews are in control of all the money in the world. This is also spread by anti-Semitics.
Since such a big scandal has been executed by Jewish it gives boost to anti-semites.
In Madoff Scandal, Jews Feel an Acute Betrayal
Here are some nice interesting videos..dont know how true they are
The Capitalist Conspiracy
Jew's Control The Money
Source : Web, Wiki.
Sunday, February 22, 2009
Madoff Scandal for Beginners/Conspiracy Theory
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2 comments:
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