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from supporter Robert Springer “Why did Bernie Madoff go to prison?”

Posted on | June 7, 2011 | 5 Comments

 Flag this message

Why Did Bernie Madoff Go To Prison ???

Tuesday, June 7, 2011 5:10 AM
From:
“Robert Springer”
Why did Bernie Madoff go to prison?  To make it simple, he talked people into investing with him.  Trouble was, he didn’t invest their money.  As time rolled on he simply took the money from the new investors to pay off the old investors.  Finally there were too many old investors and not enough money from new investors coming in to keep the payments going. 
  
Next thing you know Madoff is one of the most hated men in America and he is off to jail. 
Some of you know this.  But not enough of you.  Madoff did to his investors what the government has been doing to us for over 70 years with Social Security.  There is no meaningful difference between the two schemes, except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions. 
 

 Do you need a side-by-side comparison here?  Well here’s a nifty little chart.

 
BERNIE MADOFF
SOCIAL SECURITY
Takes money from investors with the promise that the money will be invested and made available to them later.
Takes money from wage earners with the promise that the money will be invested in a “Trust Fund” (Lock Box) and made available later.
Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts.
Instead of depositing money in a Trust Fund the politicians  transfer it to the General Revenue Fund and use it for general spending and vote buying.
When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors.
When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older geezers.
Despite repeated warnings and even a roadmap of how Madoff was running his Ponzi scheme, the SEC pointedly ignored the clear and unmistakable evidence, for years, partly due to political pressure and gross incompetence. Of course, they also missed Enron and WorldCom too.
Despite the evidence that there would be insufficient funds to discharge the obligations politicians had promised those paying into Social Security, Congress used accounting gimmicks and fantastic assumptions to “prove” Social Security was solvent and would remain so.
When Madoff’s scheme is discovered all hell breaks loose.  New investors won’t give him any more cash.
When Social Security runs out of money the politicians try to force the taxpayers to send them some more; or they cancel S/S to all those who paid into it.
Bernie Madoff is in jail.
Politicians remain in  Washington .. With fat medical and retirement benefits.

‘The taxpayer: That’s someone who works for the federal government but doesn’t have to take the civil service examination.’ 

CONCLUSION?  
If we keep doing what we’ve always done, letting both parties and their immoral and degenerate candidates dance us around the ring for entertainment, blaming the other party for all the sins since Adam and never taking responsibility for their results, we are doomed and crazy. The only possible solution is to start voting out the incumbents at every election until the message “You represent us, the common man, not your moneyed backers and ultra left or right wing activists and had better start being stewards instead of princes” gets through.  As the old pig farmer sagely observed: “If you want to clean up the river, you’ve got to get the pigs out of it first.”

 

“If you put the federal government in charge of the  Sahara Desert , 
In five years there’d be a shortage of sand.”      
~ Milton Friedman 
Category: Uncategorized

Comments

5 Responses to “from supporter Robert Springer “Why did Bernie Madoff go to prison?””

  1. Chantal
    June 7th, 2011 @ 7:12 am

    I realize you might not post this comment, but here it is..

    I like to explain CLASS: “Robert Springer” addresses Madoff investors “older investors” 😉

    yet – SS recipients are “older geezers?” 🙁

    BUY yourself some class, “Robert Springer” oh, I forgot, class is INNATE, one either has it..can’t be baught..

  2. Chantal
    June 7th, 2011 @ 7:13 am

    oops, sorry, meant “bought” 😉

  3. Chantal
    June 7th, 2011 @ 11:50 am

    Explaining CLASS:

    “Robert Springer” addresses Madoff investors as: “older investors” 😉

    yet – SS recipients are: “older geezers” 🙁

    Class is INNATE, Mr. Springer, one either has it..can’t be bought..

  4. hippybiker
    June 7th, 2011 @ 1:17 pm

    Social Security would have been fine if the Demon Craps hadn’t kept robbing it. most notably Bill Klinton and now Barack O-Bozo.

    They’ve given themselves raises, but have denied those of us who payed for years and now expect to collect. Scumbags.

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