$50 Billion dollar pyramid, famous and banks are screwed :)

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http://news.yahoo.com/s/ap/20081215/ap_ ... eet_arrest

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HOW BANKS WORK

They'll figure out how to fix it.
Banks are the only ones who "really" have any money anyway.
And they know all about pyramid schemes, because that's what they do.

The $50 Gigadollar Pyramid, eh?

Reminds me of a line from a not-so-big money Pyramid (the game show):

Here is your first subject, go!

Pyramid is not the same thing as Ponzi. You can look up the difference in Wikipedia.

The regulators really screwed up on this one. They had been notified years back and never did anything about this guy.

And what does his trail of political donations look like?

QUESTION NOT BEING ASKED

Someone please correct me if I’m wrong but it has been over a month since this news came out but nobody in the popular news media such as CNN, CNBC, Bloomberg, Wall Steet Journal, ABC, CBS, NBC, at least to my knowledge, has asked the following question:

Since there were people like Harry Markopolos who sent a 19-page memo to the Securities and Exchange Commission in 2005 providing 29 compelling red flags that the regulator should have found sobering, which in turn the SEC found easier simply to believe Mr. Madoff than confront the cold, hard facts.
The question is WHOM else has the SEC ignored? How many more Madoffs and Harry Markopolos are out there? How many other memos has the SEC received that it has not investigated? How many more shoes will fall? Are we waiting for the Obama administration for the rest?

http://www.politico.com/news/stories/0109/17252.html

here's my question:

should i withdraw every penny from my bank account and is there a risk of the bank closing and me loosing my money?

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most people think i'm a bit strange, even abnormal. normal is the majority, the average, what is most frequent. if you lived around here, you'll see the positive of not being normal

familiar stranger wrote:

SEC probed Stanford companies; red flags abounded

http://www.google.com/hostednews/ap/art ... wD96H06UG0