Authorities start liquidating Madoff firm

A section of an article states "US authorities allege that Madoff delivered consistently strong returns to clients by secretly using the principal investment from new investors for payments to other investors in what is known as a "pyramid fraud."

Is this not the same scenario unfolding in virtually every stock-market?

I am still baffled as to why only Madoff has been singled out, granted he did conduct his business in both an unethical and illegal manner, but it would be extremely naive of anyone to assume that he alone conducted his business with such a model. Maddoff may be the convenient sacrificial lamb, left to be dealt with the public while thousands of other firms that conducted their business in the same manner are now somehow viewed exclusively as victims to the whole ordeal, utter nonsense. There are true victims, but there is - and there will be many more in the near future to other dubious practices the world over .

Source- France24.com
http://www.france24.com/en/20081216-authorities-start-liquidating-madoff-firm-

Category:

Nonprofits & Activism

Tags:

• Bernard L. Madoff
• Pyramid scam
• Pyramid
• investor fraud
• liquidation
• withdrawal
• collapse
• brokerage

[EatShit435]

This clown pulls this shit then uneducated dumbasses compare this, a real pyramid scheme to legit business oppurtunities like Amway, it's sad.

[Jogonpants]

alright, I really hope you are not a trader or god help us all lol

 I don't think Bernie can show his face anywhere. I'm sure there is one crazy rich asshole out there just waiting to dispose of him.

[stargen5]

The frauds are just getting bigger and bigger...I'm waiting for the next biggest news headline fraud in history...One Trillion Dollars fraud by a Super Hedge Fund Manager. Who might that be?

[cybertrader69]

Bernie,

yur my hero, you screwed em all and laughed all the way to the Bank for 30 years. now yur old and took the fall for yur family, what a man. at 70 just say yur senile bernie, they will let you out. then u can go get those billions hidden away offshore.

you da man!!!

[ktmggg]

"...impossible to violate the rules."

Let's see, how about Enron, World Comm, Tyco, and Qwest. Halliburton almost tipped into bankruptcy but was saved by a multi-billion dollar, no-bid government contract handed over by the Bush administration.

Take a look at AIG, Bear Sterns, Washington Mutual & IndyMac banks, the country of Iceland et. al. for the continued fleecing of investors and taxpayers around the world.

No Bernie, violating the rules is impossible.

Lying asshole!

[WorldWarTwoSELLER]

its every man for theirself. bernie has to make a fucking living. its not his fault people were stupid enough to give him their money.

[ufoengines]

You can't violate the rules! That's gold!

[ufoengines]

It's a wonderful life!

[WorldWarTwoSELLER]

stfu. bernie needed to earn a living just like you. bernie is COOL!!!!!