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Ponzi Scheme

Ponzis and Priorities: A-Rod, R-Stand, and B-Mad

Charles J. Brown | Posted 05.25.2011 | Media
Charles J. Brown

Sorry folks. Superman still can't fly. Athletes still can't consistently hit 50 home runs, much less 60. And the economy still can't generate new wealth out of the thin air.

Madoff Ponzi Scheme: No Indication Stocks Were Ever Purchased

AP | TOM HAYS | Posted 05.25.2011 | Business

NEW YORK — Investors wiped out by the Bernard Madoff scandal got more bad news on Friday: Investigators have confirmed suspicions that the month...

Ponzi Scheme Targeted Deaf Investors, Say US Regulators

Reuters | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - Top U.S. securities and futures regulators halted a $4.4 million Ponzi scheme that targeted deaf investors in the United States...

Allen Stanford Missing: Federal Authorities Do Not Know His Whereabouts

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

UPDATE: MSNBC is reporting that Allen Stanford tried to hire a private jet to flee the US. According to ABC News, federal authorities do not know the...

President Obama: Sign New Emancipation Proclamation to Free Us From Debt Slavery and Free-up the Economy

Ronald B. Robinson | Posted 05.25.2011 | Politics
Ronald B. Robinson

Mr. President, help us create "a more perfect Union" from the "bottom-up." You can be the Lincoln of our times and free us from the greed and "top-down" bondage that has brought us here.

Madoff's Victims: Their Exact Locations Around The Globe

Zero Hedge | Tyler Durden | Posted 05.25.2011 | Business

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Republicans' 4% Mortgage "Stimulus" Is Latest Ponzi Scheme

Ronald B. Robinson | Posted 05.25.2011 | Politics
Ronald B. Robinson

Does the Republican ploy to provide 4% home mortgages to boost the economy sound too good to be true? It is. Buyer Beware!

WATCH: Madoff Whistleblower Testifies, WSJ Blew Chance To Break Story

MSNBC | Posted 05.25.2011 | Business

***UPDATE 2:20PM*** The Wall Street Journal blew its chance to break open the Madoff ponzi scheme three years ago, according to whistleblower Harry M...

Bernie Madoff's Office Photos (SLIDESHOW, VIDEO)

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

Fox Business raises the blinds on Bernie Madoff's notorious three-floor offices in Midtown Manhattan's Lipstick Building. In addition to the photos,...

Friday Stock Market: Stocks Close Higher On Hope For Bailout

AP | SARA LEPRO and TIM PARADIS | Posted 05.25.2011 | Home

NEW YORK — Wall Street put on another impressive show of resilience Friday, rebounding from an early sell-off to end higher after the government sai...

Shameful Bankers: Time for a Revolution

Paul Jenkins | Posted 05.25.2011 | Business
Paul Jenkins

While there are many victims in the colossal Ponzi scheme that is the American economy, few of these victims have not in some way been complicit.

Transform Banks into Credit Unions

Mike Garibaldi-Frick | Posted 05.25.2011 | Business
Mike Garibaldi-Frick

Banks have been ripping-off the middle class for years. In addition to user fees, the middle class pays banks large spreads on mortgages, credit cards and other types of debt.

The Silver Linings: the Madoff Tax Credit

Edward Jay Epstein | Posted 05.25.2011 | Business
Edward Jay Epstein

To the extent that Madoff's investors paid taxes on false capital gains, they are owed tax refunds -- with interest; investors may deduct billions worth of their loss against other income.

Let's Hear From The Madoff Women

Vicky Ward | Posted 05.25.2011 | Business
Vicky Ward

Do we really believe Ruth knew nothing of her husband's business? The couple spent an unusual amount of time together -- just the two of them.

Madoff Blames Ponzi Scheme on Youth, Immaturity

Andy Borowitz | Posted 05.25.2011 | Business
Andy Borowitz

Madoff pleaded for understanding, explaining, "You do all kinds of crazy things when you're at an impressionable age like 60 or 61."

1992 Ponzi Scheme Investigation Missed Signals About Madoff

New York Times | ALEX BERENSON | Posted 05.25.2011 | Business

Seventeen years ago, federal investigators questioned for the first time whether Bernard L. Madoff was connected to a Ponzi scheme. Their inquiry cent...

Madoff: Investment Fund, or Virtual Reality Game?

Charles H. Green | Posted 05.25.2011 | Business
Charles H. Green

It's beginning to look like Madoff's business model had less in common with a hedge fund or investment management firm than it did with an online virtual reality game.

Rich Get Poorer, Poor Disappear

Barbara Ehrenreich | Posted 05.25.2011 | Politics
Barbara Ehrenreich

As the poor and the formerly middle class Nouveau Poor become the American majority, they will finally have the clout to get their needs met.

Take That Smug Smile Off Madoff Now

Vicky Ward | Posted 05.25.2011 | Business
Vicky Ward

Even if Madoff goes to jail today, he still doesn't face indictment for at least another 30 days. The grand jury has been given an extension to deliberate -- and some of us are baffled as to why.

Madoff Checks Found At Arrest Totalled $173 Million

ABC | Posted 05.25.2011 | Business

Prosecutors arguing that alleged $50 billion scammer Bernard Madoff should be put in jail immediately say that when Madoff's desk was searched followi...

Joseph Forte, Mini-Madoff: Philly Man Charged With $50M Ponzi Scheme

AP | JOANN LOVIGLIO | Posted 05.25.2011 | Business

PHILADELPHIA — An investment manager ran a Ponzi scheme that swindled an estimated $50 million from as many as 80 investors, federal authorities...

Harry Markopolos, Madoff Whistleblower, Now Faces Limelight

The Boston Globe | Posted 05.25.2011 | Business

A month ago, Harry Markopolos was an accountant unknown outside Boston's financial community. Now the slight, bookish 52-year-old from Whitman is u...

Madoff Just the Start of Post-Bubble Scandals

Diane Francis | Posted 05.25.2011 | Business
Diane Francis

The $50-billion fraud, allegedly perpetrated by New York's Bernie Madoff, is a predictable outcome following the collapse of a speculative bubble. Big bubbles attract bigger crooks.

Richard Piccoli, 82-Year-Old Businessman, Charged With Running $17M Ponzi Scheme

AP | CAROLYN THOMPSON | Posted 05.25.2011 | Business

BUFFALO, N.Y. — An 82-year-old businessman was charged Thursday with running a Ponzi scheme that took in at least $17 million from a clientele g...

The Greatest Ponzi Scheme of All Time

Reese Schonfeld | Posted 05.25.2011 | Politics
Reese Schonfeld

When the President came into office, there were about 278 million people living in America. The national debt was $5.6 trillion. Now there are 307 million of us. The national debt is $10.6 trillion.