Madoff mad about house arrest?WTF

[cipher5791]

It is reported that Bernard Madoff, who pulled the greatest ponzi scheme of all time, is sick of being on house arrest. He is reportedly pissed off about being locked in his $7million apartment after frauding $50 billion and counting. He is starting to hate being on house arrest. WTF

It is also reported that some of the wallstreet CEO lost some of their bonus money from last year after investing with Bernie boy. Can't get too happy cause it is still taxpayers dollars lost either way.???

[WWJD]

don't look at me... I'm not the one encouraging criminals to be our idols*: rock stars, rappers, TV stars, politicians.... but SOMEONE is supporting that. I just know it ain't me

*meaning people getting away with rediculous things, was my meaning here incase my obscure anology was too vague

[mrsBusawhipped]

Sorry ole Bernie is uncomfortable in his spacious cell. Maybe we should make things simpler for him. Like a 6X6 cell and a lovely orange assemble to compliment the gray walls. Oh and lets not forget, he might be lonely so lets make sure some new friends have access to his lovely new home. What a JERK!!!
:tongue4:

[dadofthree]

Send him to New Mexico. I hear they've got someone down there that knows how to treat criminals ...

[StromBusa]

??? Allot of people been killed for stealing one heck of a lot less, I wonder how many horses that adds up to ??? Too bad his style is getting cramped

[Busa1166]

It is reported that Bernard Madoff, who pulled the greatest ponzi scheme of all time, is sick of being on house arrest. He is reportedly pissed off about being locked in his $7million apartment after frauding $50 billion and counting. He is starting to hate being on house arrest. WTF

It is also reported that some of the wallstreet CEO lost some of their bonus money from last year after investing with Bernie boy. Can't get too happy cause it is still taxpayers dollars lost either way.???

I can feel an relate with Bernie it just isn't fair, an I don't think he should have to take that kind of abuse. I think he should be aloud to poke his head out the door at least long enough for someone with a good sniper rifle to plant him one right between the eyes.. because I really can't stand to a fellow human being suffer it really is the only humane thing to do. JMO

[mike1180]

"Let the punishment fit the crime"

We have lost the power to punish.

Even where they do punish (ie China) $hit still goes on....but a lot less.

2 face execution over China milk scandal - China- msnbc.com

SHIJIAZHUANG, China - A Chinese court on Thursday sentenced two men to death for their role in the production and sale of melamine-tainted milk that killed at least six children and made nearly 300,000 ill.

I feel all this crap we are in up to our eyeballs, will continue until we get back our will power to punish.

No deterrent, no compliance.

[cipher5791]

What angers me the most as a tax payer is the kind of greed that goes on in this country.
When I hear stories such as the Madoff scheme, the Wallstreet $18billion bonus, The Citigroup jet purchase, and other corruption, I realize that this type of thing has been going on for decades. This is concidered business as usual to them. What is even more sad is that these people feel like wealth is owed to them and no matter how bad others are doing, they are intitled to their wealth. Wallsteet execs could honestly look at the market burst and still decided that there will be performance bonuses paid out. They say they give these bonuses in order to keep their top people in the company. Well how about your bonus is that you still have a job concidering that the market is in shambles. Really, if the market is bad and all the companies are loosing money, who is that individual going to work for?

It looks to me like this kind of greed has always been exceptable as long as nobody finds out about it. Just think of the millions that these companies make on the high end and the people on the lower in only see a fraction of a fraction of that money. The company you work for can say that they are not making any money or the cost to operate has gone up. How do we know this for sure? Do we ever question what they report to us and losses/gains?

How do we really know rather or not Home depot or Curcuit City are really doing as bad as they say they are? Could this be the perfect opportunity for these companies to downsize or venture off into other aspects of their business? More and more companies are laying off and I am sure that the economy is affecting a good bit of them. There might be a few out there that really are not doing all that bad, but now is the time for them to report profit losses so that they can downsize. When it comes to greed and corruption, I don't put anything past any of them. Just something to think about.

[PandaNin]

Um, it's called quarterly reporting. The SEC is very big on these reports and they are audited by independent auditors. If you refer to the Enron deal, remember that Arthur Anderson lost their CPA accreditation because of their fraudulent activities in covering it up. If you are involved in business you know how to read these reports and you can see the consistency from report to report. Every dollar is accounted for. If the company is profitable and they want to buy a plane, great, go ahead. That's their choice. If they are buying a plane to put themselves into a dire situation so they get bail-out money, how is that illegal? It's like dumping bad stocks to get a loss on your income taxes so you get a tax break.

There are checks in place to prevent public companies from reporting fraudulent information and most of the time they work.

My biggest fear is the government stepping in and telling private or public industries just how much they can pay as bonuses and what their pay structure can be. Next step after that is to say who they can hire and who they can't fire (oh wait, we're already halfway there on the second item). A company is an autonomous unit and should not be under government control for it's operations. It should abide by the law but not be directly controlled by government.

The largest employer in the US is the US Govt. Do you really think anyone in the govt knows how to run a for-profit business efficiently? Can anyone name one department of the US Govt that is an efficient organization?

[Busa1166]

Um, it's called quarterly reporting. The SEC is very big on these reports and they are audited by independent auditors. If you refer to the Enron deal, remember that Arthur Anderson lost their CPA accreditation because of their fraudulent activities in covering it up. If you are involved in business you know how to read these reports and you can see the consistency from report to report. Every dollar is accounted for. If the company is profitable and they want to buy a plane, great, go ahead. That's their choice. If they are buying a plane to put themselves into a dire situation so they get bail-out money, how is that illegal? It's like dumping bad stocks to get a loss on your income taxes so you get a tax break.

There are checks in place to prevent public companies from reporting fraudulent information and most of the time they work.

My biggest fear is the government stepping in and telling private or public industries just how much they can pay as bonuses and what their pay structure can be. Next step after that is to say who they can hire and who they can't fire (oh wait, we're already halfway there on the second item). A company is an autonomous unit and should not be under government control for it's operations. It should abide by the law but not be directly controlled by government.

The largest employer in the US is the US Govt. Do you really think anyone in the govt knows how to run a for-profit business efficiently? Can anyone name one department of the US Govt that is an efficient organization?

The company i work for is suffering from the economy the 2 owners have taken a 50% reduction in their own pay an given a 4 % reduction to the employee's... why did they do this because they have no chance of being bailed out by anyone.. The gov shouldn't get involved??? You may be right which means they should not get any assistance from the gov. not the banks not the companies not wall street either. They driving their businesses to the ground let them go down the ship an drown.

[PandaNin]

Busa1166, I agree with you completely.

This country has bankruptcy laws that are designed to handle exactly this situation.

Top management will be let go, new management will be put in place, keep the good employees and (hopefully) turn the company around. It's happened many times before. I work hard to keep my company profitable so we can give good jobs to those that work hard. Slackers are not tolerated at any level of the organization.

I should say, we had our best year ever last year. Our profits are up and we're hiring. It's not because of a handout, it's because we prepared and are fiscally conservative.

Oh, and sorry for the threadjack. I just realized we're way off topic, but engaging nonetheless.

[cipher5791]

PandaNin,
You maybe correct. I hope that is the case with all of them. But my thoughts are just my thoughts. These days, I put nothing past anyone. Someone in the SEC did however cover up for Bernie Madoff. How effective are they really? They may find the individual who did it and prosecute them. I hope they do.
I am not saying government should get involved in everything. Someone needs to get involed when your company fails to perform and you give out bonuses before or after you go to the government for a bailout.

I have been known to look for the conspiracy in many issues.

[Southside Playa]

Fu*k Bernie, his feeling, thoughts, etc.

When he makes right on his sheisty azz fund, THEN maybe someone would give $.02 about how the fugg he felt, but it dayum sure wouldn't be me.

But, I'm just saying, though ......................

[mymaster]

...

[CBXRider]

The rich kid was sent to his room...but remember, they got Martha Stewart to pay her debt to society!

Never feel sorry for rich people.

[xc700]

The gov shouldn't get involved You may be right which means they should not get any assistance from the gov. not the banks not the companies not wall street either. They driving their businesses to the ground let them go down the ship an drown.
well said, best statement i have read for the year

[StromBusa]

Do you really think anyone in the govt knows how to run a for-profit business efficiently?

Uh, NO! But it's starting to look like wer're going to find out