is social security a ponzi scheme
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
_________________
?We must not look at goblin men,
We must not buy their fruits:
Who knows upon what soil they fed
Their hungry thirsty roots??
http://jakobvirgil.blogspot.com/
Kraichgauer
Veteran
Joined: 12 Apr 2010
Gender: Male
Posts: 49,751
Location: Spokane area, Washington state.
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Joker
Veteran
Joined: 19 Mar 2011
Age: 37
Gender: Male
Posts: 7,593
Location: North Carolina The Tar Heel State :)
Kraichgauer wrote:
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Those are the only two things I give him credit for
Inuyasha wrote:
Tadzio wrote:
Inuyasha wrote:
Uh, why are you blaming Republicans for Bernie Madoff, particularly since Bernie Madoff was a Democrat Campaign donor...
You missed the part about the Wicked Witch giving Snow White an apple that was poisonous didn't you!! !
Tadzio
Snow White is a fairy tale, Bernie Madoff's ponzi scheme is reality. Learn to tell the difference between reality and fantasy.
I am very sorry that I over estimated your intellectual abilities. I hope you will be able to soon utilize, with sufficient effort, or to begin to at least understand, such as metaphor (and into allegory), and to decipher both basic and advanced lessons from Aesop's Fables.
I have a nasty habit of almost word-for-word plagiarizing statements from famous self-identified non-Liberals, and this one involved investors being told by the non-Liberal to accept responsibility for their own fault for trusting a person that was portayed by the non-Liberal political machine, at the time, as being more than sufficiently "self-regulating" without needless legal oversight. This may be nearly impossible to understand for anyone who mistook Donald Rumsfeld's, later acting as the Secretary of Defense, warm greetings of friendship to Sadaam Hussein just months before strategizing his future "just" execution, as being "honest, and trustworthy," to the victim's limited knowledge of the self-serving scheme.
Maybe a book like "It's Greek To Me!: brush up your classics" by Michael Macrone might not be too difficult (Bloom definitely would be). I know "The Bundle of Sticks" fabel proved difficult with the fasces mounted to either side of the Speaker's chair in the U.S. House of Representatives. The horrible rumour (fact?) that Hitler's propaganda machine dreamt up the flaming torch run used as now a standard practice in the games is at the opposite span of confusion.
May you have a better time between fantasy and reality than Baby Bush did with the help of his non-Liberal "friends".
Tadzio
Joker wrote:
Kraichgauer wrote:
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Those are the only two things I give him credit for
Actually, Obama can't take credit for Madoff's arrest, cause he was arrested in December of 2008, which means George W. Bush was President.
http://en.wikipedia.org/wiki/Bernard_Madoff
Inuyasha wrote:
Joker wrote:
Kraichgauer wrote:
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Those are the only two things I give him credit for
Actually, Obama can't take credit for Madoff's arrest, cause he was arrested in December of 2008, which means George W. Bush was President.
http://en.wikipedia.org/wiki/Bernard_Madoff
you are correct I was a month off
_________________
?We must not look at goblin men,
We must not buy their fruits:
Who knows upon what soil they fed
Their hungry thirsty roots??
http://jakobvirgil.blogspot.com/
JakobVirgil wrote:
Inuyasha wrote:
Joker wrote:
Kraichgauer wrote:
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Those are the only two things I give him credit for
Actually, Obama can't take credit for Madoff's arrest, cause he was arrested in December of 2008, which means George W. Bush was President.
http://en.wikipedia.org/wiki/Bernard_Madoff
you are correct I was a month off
The world must be coming to an end JakobVirgil finally admitted that he was wrong about something.
Okay on a more serious note, the problem is the SEC was busy watching porn, there was a whistleblower that brought the Madoff thing to their attention and they simply ignored the whistleblower.
Inuyasha wrote:
JakobVirgil wrote:
Inuyasha wrote:
Joker wrote:
Kraichgauer wrote:
JakobVirgil wrote:
Inuyasha wrote:
blauSamstag wrote:
Madoff got away with it for two major reasons.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Firstly because he was very well connected in finance, in large part because he operated a large, high profile, legitimate business in addition to his ponzi scheme, it was hard for regulators to believe that he might not be on the up and up.
Secondly because there is very little that fund managers are compelled to turn over to the SEC unless the SEC is willing to make a criminal case out of it.
Since an SEC investigation normally has a huge negative impact on the investigated, the SEC does not like to take things that far if they don't see that it is clearly necessary.
In short, if you operate a fund, unless the SEC is willing to accuse you of being a criminal, you don't have to explain to them how your fund makes money.
Actually the SEC was too busy downloading porn to investigate.
yup the SEC was downloading porn since 1975. (Gerald Ford a republican was president)
well just looking at porn they purchased for the first part.
the grandmaster Bernie was not even questioned by the Carter, Reagan or Bush I Admins
in 1999 he was report as having return that where mathematically impossible Billy was president
(cuz we all know the president controls everything or is that just democrat presidents?)
in 2005 the accusations where still being ignored by George Bush's FEC by this time.
in 2008 an actual investigation took place and the president was some black dude.
Bern went down.
Hell, from now on, I'll credit Obama with taking down Madoff as wall as killing Bin Laden!
-Bill, otherwise known as Kraichgauer
Those are the only two things I give him credit for
Actually, Obama can't take credit for Madoff's arrest, cause he was arrested in December of 2008, which means George W. Bush was President.
http://en.wikipedia.org/wiki/Bernard_Madoff
you are correct I was a month off
The world must be coming to an end JakobVirgil finally admitted that he was wrong about something.
Okay on a more serious note, the problem is the SEC was busy watching porn, there was a whistleblower that brought the Madoff thing to their attention and they simply ignored the whistleblower.
I have done it 4 times this week.
I just do it so close to the mistake that people don't remember it.
It is a much better strategy than dragging out an error for ages
so everyone remembers when you are wrong.
(sorry only 3
see I was only wrong for 4 lines.
_________________
?We must not look at goblin men,
We must not buy their fruits:
Who knows upon what soil they fed
Their hungry thirsty roots??
http://jakobvirgil.blogspot.com/
Tadzio wrote:
Inuyasha wrote:
Tadzio wrote:
Inuyasha wrote:
Uh, why are you blaming Republicans for Bernie Madoff, particularly since Bernie Madoff was a Democrat Campaign donor...
You missed the part about the Wicked Witch giving Snow White an apple that was poisonous didn't you!! !
Tadzio
Snow White is a fairy tale, Bernie Madoff's ponzi scheme is reality. Learn to tell the difference between reality and fantasy.
I am very sorry that I over estimated your intellectual abilities. I hope you will be able to soon utilize, with sufficient effort, or to begin to at least understand, such as metaphor (and into allegory), and to decipher both basic and advanced lessons from Aesop's Fables.
The fact of a metaphor is that it's supposed to be comparable to what it represents. It's your problem that your metaphor was rubbish. After that all I see is some spiteful, defensive words. So yeah, you're manically defensive.
visagrunt wrote:
Inuyasha wrote:
The world must be coming to an end JakobVirgil finally admitted that he was wrong about something.
And when you do it, hell will finally have frozen over.
When he does it the universe will cease to exist. His ego contains all of the anti-matter left over from the Big Bang.
Inuyasha wrote:
Okay on a more serious note, the problem is the SEC was busy watching porn, there was a whistleblower that brought the Madoff thing to their attention and they simply ignored the whistleblower.
Yes, the SEC was watching porn. Adult testimony, people, from a real political advocate.
Gedrene wrote:
Inuyasha wrote:
Okay on a more serious note, the problem is the SEC was busy watching porn, there was a whistleblower that brought the Madoff thing to their attention and they simply ignored the whistleblower.
Yes, the SEC was watching porn. Adult testimony, people, from a real political advocate.
Well unfortunately for you I actually can back up what I was saying, care to apologize?
Proof they were warned:
NEW YORK (CNN) -- A whistleblower who repeatedly warned the Securities and Exchange Commission that Bernard Madoff was perpetrating a massive investment fraud testified Wednesday that the regulatory agency that oversees financial markets is inept, "financially illiterate" and far too cozy with the financial titans it is supposed to be regulating.
http://money.cnn.com/2009/02/04/news/ne ... tleblower/
Proof they were watching porn:
WASHINGTON -- Senior staffers at the Securities and Exchange Commission spent hours surfing pornographic websites on government-issued computers while they were being paid to police the financial system, an agency watchdog says.
Read more: http://www.foxnews.com/politics/2010/04 ... z1aUrO2yOg
And from a leftist source:
I wish there were a way to indict an entire government commission. Okay, well, maybe just the senior staff?
I'm speaking, of course, about the Security and Exchange Commission where as many as 33 of its top management - including senior lawyers and accountants - were apparently too busy looking at triple X-rated internet porn sites to notice brewing financial tsunamis like the implosion of the U.S. housing market, the demise of giant Lehman Brothers and rouge billionaire investment gurus like Bernie Madoff and Robert Allen Stanford who, together, decimated countless thousands of American's retirement plans.
http://www.huffingtonpost.com/diane-dim ... 65202.html
A Ponzi Scheme is a device whereby a person accepts money and promises to deliver a product. The scheme is to them make other people give their money to the people above in the Ponzi Hierarchy and thus get access to the non-existent product.
Social Provision is where a government uses taxes to pay for services that act as a safety net for the poor or for redistribution.
Now these are far from the same thing, unless you're deluded.
Gedrene wrote:
A Ponzi Scheme is a device whereby a person accepts money and promises to deliver a product. The scheme is to them make other people give their money to the people above in the Ponzi Hierarchy and thus get access to the non-existent product.
Social Provision is where a government uses taxes to pay for services that act as a safety net for the poor or for redistribution.
.
Social Provision is where a government uses taxes to pay for services that act as a safety net for the poor or for redistribution.
.
It still comes down to plundering the best to help the less good.
Taxation is theft. Let us have as little of it as possible.
ruveyn
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