[BretLudwig]

Zionist Financier Busted in Ponzi Scheme


Bernard L. Madoff cost clients $50 billion: claim

From European Americans United (EAU) research unit

"A US federal court has imposed an emergency freeze on the assets of
Bernard L. Madoff, a New York "investment adviser," head of one of the
largest third market dealers on the New York Stock Exchange, and
influential Zionist financier, in a case the government says could well be
the worst financial fraud scheme in Wall Street history.

According to the U.S. Securities and Exchange Commission (SEC), the court
also agreed to the federal government's request to appoint a receiver in
anticipation of a class action lawsuit that already has five plaintiffs
claiming losses of up to $100 million, and which may eventually see over a
thousand Madoff clients, among them family members, banks, nonprofits and
wealthy jetsetters seeking the return of as much as $50 billion.

Madoff, Chairman of Bernard L. Madoff Investment Securities, was arrested
on December 11 at his $5 million Manhattan apartment, one of five homes he
owns in Europe and America, after his sons informed on him to the federal
government. According to the Times of London, Madoff made damaging
admissions to agents when confronted, telling them that "'There is no
innocent explanation.' The agents say that he told them 'he paid investors
with money that wasnt there,' that he was 'broke' and that he expected
to go to jail."

Charged with one count of securities fraud, Madoff, who had been accused
of unethical business practices in the pat, is free on a $10 million bond.
If convicted he could be sentenced to as much as 20 years in prison and be
fined $5 million.

Media outlets report that the night before his arrest Madoff, 70, had
allegedly confessed to his sons that his firm was in fact a huge "Ponzi
scheme" which had fleeced investors of $50 billion. Ponzi schemes are
named for Charles Ponzi, who was imprisoned in 1920 after a spectacular
scam that stole only a fraction in real sums of what Madoff stands accused
of taking. Ponzi schemers generally appeal to the greed of their victims,
offering enormous rates of return while in actual fact using new
investments to pay off earlier investors, perpetuating the illusion of a
growing, successful investment program. Ideally, the scammer escapes with
the cash before the whole edifice collapses or someone complains to the
police.

For Madoff, the scam appears to have begun to unravel in November, when a
number of investors sought to cash out to the tune of $7 billion.

The fact that Madoff's sons, who he employed, alerted the feds to the
scheme may be related to reports that many of Madoff's alleged marks were
family members and friends, a common aspect of many Ponzi schemes. Bernie
Madoff's alleged victims were not the kind of unsophisticated "rubes" some
might expect to fall victim to such a scam. According to the New York
Times, among them are people like Fred Wilpon, who owns a controlling
interest in the New York Mets baseball team and Norman Braman, former
owner of the Philadelphia Eagles NFL franchise. "There are people who were
very, very well off a few days ago who are now virtually destitute," one
Manhattan lawyer told the Times. "They have nothing left but their
apartments or homes €” which they are going to have to sell to get money
to live on."

Even a private Swiss investment bank is apparently on the Madoff hook.
Banque Benedict Hentsch Fairfield Partners SA sank $47.5 million worth of
client investments in Madoff's alleged scheme, an admission the Geneva
bank made online.

Madoff's arrest couldn't have come at a much worse time for him or for the
Zionist causes he supports. The US economy, and by extension much of the
Western world, is in serious crisis, largely a result of criminal
behavior, greed, politically correct racial engineering policies, and
mismanagement. And official corruption is at the forefront of much of the
news in the US.

There is no denying that some ethnic Jews have played a disproportionate
role in the events leading to the financial crisis, leading Zionist
fearmongering groups like the Anti-Defamation League (ADL) to decry the
supposed potential growth of "anti-Semitism" as a result.

In one remarkable case, a skit lampooning the subprime housing meltdown
and taxpayer bailout of America's banksters on NBC's Saturday Night Live
(SNL) was censored after "political pressure" was reportedly brought to
bear on the network. In the skit, Congressman Barney Frank, whose demands
that banks cater to black and hispanic borrowers is blamed for much of the
rise of the subprime phenomenon, oligarch George Soros (known as "the Man
Who Broke the Bank of England"), and Golden West Financial's Herb Sandler
and wife Marion, are humorously shown gloating over how they will profit
from the catastrophe. All of the four are Jewish, and accusations that the
lampooning of these fabulously wealthy people are, prima facie, expressions
of "anti-Semitism," is understood to have been the reason why NBC pulled
replays of the skit from its own website, and substituted an Orwellian,
cut version without the Sandlers in their video library. NBC also were
successful in having the original version banned by YouTube and Hulu and,
in fact, driving it almost totally off the web. While the uncensored video
is still floating around, NBC's actions restricted whatever "damage" it
could have done had it been treated like any other SNL clip, especially
the highly effective, weekly personal (and brutally sexist) attacks on GOP
Vice Presidential hopeful Sarah Palin, portrayed by actress Tina Fey, who
openly admitted that she hoped Palin would lose the election.

Conservative columnist Michelle Malkin discussed the SNL censorship
effort, which was so complete that NBC even deleted posts on its sites
that so much as questioned why the skit had been pulled. According the
Malkin, "the Sandlers are left-wing moguls who built a mortgage company
whose major product was subprime mortgages and they sold it to Wachovia
for $24.2 billion in 2006. And what do the Sandlers do when they are not
peddling subprime garbage? They are busy writing checks to leftist groups
like the Center for American Progress, the American Civil Liberties Union,
and Association of Community Organizations for Reform Now (ACORN). Yes that
ACORN. The Sandlers are seething over the skit. And George Soros must be
livid as well. Anyone else smell a legal threat behind the disappearance
of the vid?" (Recently, YouTube gave the ADL permission to police videos
on the popular website to locate and censor any content deemed politically
incorrect by the ADL. With "mainstream" newspapers across the United States
faced with financial collapse, the ADL and similar private, special
interest groups are anxious to get a handle on the internet and its
potential to fill the information gap with uncensored news and opinion).

Assuming that the "concern" of Zionist "watchdogs" about a rise in
"anti-Semitism" as a result of the financial crisis is genuine, and not
mere cynicism, then Bernie Madoff's close identification with, and support
for, Zionist causes must be worrisome indeed for them. The New York Times
talks about one Jewish group which trusted Madoff with its finances, the
Robert I. Lappin Charitable Foundation. The Times diplomatically says that
the Lappin Foundation "works to reverse the dilution of Jewish identity
through intermarriage and assimilation by sending teenagers to Israel and
supporting other Jewish education efforts," a "little foundation" that at
one point had $7 million invested through Madoff's operations. In the
aftermath of Madoff's arrest, the Lappin Foundation has fired all of its
staff and "shut down its programs to cope with its losses in the Madoff
funds."

Madoff was also connected with New York's Yeshiva University, the oldest
Jewish college in the United States, a member of Yeshiva University's
Board of Trustees and serving as Chairman of the Board of Directors of the
Sy Syms School of Business where, according to the school, "Jewish
tradition provides the framework for consideration of ethical issues, an
integral part of the student's education." The business school connection,
especially, is something Yeshiva probably won't want to brag about, though
they have listed him as "a Benefactor" who "recently made a major gift to
the Sy Syms School."

Madoff also served as national treasurer of the American Jewish Congress
(AJC), a leading Zionist organization which raises support for Israel,
where both the AJC and Yeshiva University maintain offices.

There has been a lot of talk about bailouts recently. At the height of the
Presidential campaign the supposed rivals, Obama and McCain, came out in
support of the enormous bailout of financial firms, a cost borne not only
by taxpayers but also by the generations to come, saddled with deficit
legacies. While financial institutions easily got their handouts, much
more opposition, fueled largely by lingering taxpayer resentment over the
Wall Street welfare payouts, is now being raised to proposals to bail out
the car industry. The industry is a tottering vestige of America's former
smokestack economy and the high wages, unionization and economic well
being that went with it and which lifted blue collar workers into the
middle class. Globalization has largely destroyed the old pillars of the
US economy, gutted the wage scale, decimated the industrial sector in
favor of the service economy, and made the eight hour day largely a thing
of the past.

But bailouts are still on the agenda, with proposals of varying
seriousness to bail out any number of stressed businesses, not least the
outmoded fishwrap print media, from newspapers and magazines to book
publishers. Who wants to bet that before long we'll hear the alleged
"victims" of Bernard L. Madoff's Ponzi scheme, putting their hands out
too?"

http://www.wvwnews.net/story.php?id=6230

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