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U-S Government “a Ponzi Scheme”

Posted by msrb on March 1, 2011

Sometimes Even the Criminals Tell the Truth …

Quote of the Day

“It’s unbelievable. Goldman … no one has any criminal convictions—the whole new regulatory reform is a joke. The whole government is a Ponzi scheme.”  Bernard L. Madoff

Bernard Lawrence Madoff (Bankster Bernie), former chairman of the NASDAQ stock exchange. Photo: AP. Image may be subject to copyright.

The Securities and Exchange Commission “looks terrible in this thing,” he said in the New York magazine interview.

“The chairman of Banco Santander came to see me, the chairman of Credit Suisse came down, chairman of UBS came down,” Madoff said.

Madoff is serving a 150-year prison sentence in Butner, North Carolina, having pleaded guilty to fraud charges in 2009.

Selected investors have profited handsomely from Madoff’s Ponzi scheme.

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Posted in Banco Santander, Bernie Madoff, Credit Suisse, JPMorgan Chase, SEC, UBS, Wall Street | Tagged: , , | Leave a Comment »