Madoff with the money?

Originally posted by Bosse de Nage
And you blue-eyed free-marketeers still frown at financial regulation ...

http://www.mg.co.za/article/2008-12-19-obama-promises-adult-supervision-for-wall-street

In all fairness, Ponzi schemes are already illegal. It's neglegent regulators that didn't catch this, not lack of regulation.

I'm actaully surprised this guy was a crook, he had such strong ties to the Democrats, that I'm shocked, shocked I say.

http://firedoglake.com/2008/12/14/madoff-was-huge-dem-donor/

Looks like the Kos Kiddies are angry about it, too.

http://www.dailykos.com/story/2008/12/16/43232/543/693/673580

But, the real story, at least as far as the Progressive blogosphere's concerned, is that Madoff's crimes have resulted in the virtual evisceration of hundreds of the very best, privately-funded social programs in the U.S. and throughout the world.

Madoff, single-handedly, has done more harm to the Progressive cause than almost anyone yet realizes. And, that's because The JEHT Foundation, one of the leading providers of grants for all things Progressive, has just abruptly announced they're shutting their doors at the end of January as a result of having come to the realization that they've lost virtually all their money because it was all under Madoff's management.

You might ask: What is The JEHT Foundation?

Think: Amnesty International, the ACLU, Center for International Environmental Law, Center for Constitutional Rights, Human Rights Watch, Physicians for Human Rights, Immigrant Legal Resource Center, Center for Public Integrity, Center for Investigative Reporting....the list just goes on and on!

List of active criminal justice grants of the JEHT Foundation which will now be cancelled:

American Civil Liberties Union Foundation $180,000 2006 1 year
American Prosecutors Research Institute $183,687 2005 15 months
Association of Paroling Authorities International $35,000 2006 4 months
Association of Paroling Authorities, International $200,000 2007 16 months
Association of Paroling Authorities, International $200,000 2007 16 months
Baptist Community Ministries $390,000 2008 8 months
Bazelon Center for Mental Health $493,162 2005 2 years
Bazelon Center for Mental Health Law $25,000 2006 8 months
Brown University: Center for Alcohol and Addiction Studies $355,937 2006 18 months
California Commission for the Fair Administration of Justice $57,500 2006 1 year
Cascade Center for Community Governance $382,750 2006 18 months
Center for Alternative Sentencing and Employment Services $360,000 2008 2 Years
Center for Effective Public Policy $268,000 2008 6 months
Center for Effective Public Policy $45,000 2008 1 year
Center for Effective Public Policy $500,000 2005 2 years
Center for Effective Public Policy $24,198 2006 6 months
Center for Effective Public Policy $50,000 2006 7 months
Center for Effective Public Policy $163,500 2007 1 year
Center for Employment Opportunities $350,000 2005 3 years
Center for Traumatic Grief and Victim Services $75,000 2006 2 years
Charles Hamilton Houston Institute for Race & Justice $30,000 2006 9 months
Chicago Metropolis 2020 $65,150 2006 1 year
Citizens Alliance on Prisons and Public Spending $490,000 2004 3 years
City of Providence $197,000 2007 3 years
Colorado Department of Corrections $321,500 2007 12 months
Community Foundation of North Florida, Inc. $200,000 2007 6 months
Community Foundation of Southeast Michigan $510,000 2007 18 months
Corporation for Supportive Housing $643,500 2008 15 months
Corporation for Supportive Housing $251,000 2008 30 months
Corporation for Supportive Housing $150,000 2006 1 year
Council of Michigan Foundations $20,000 2006 1 year
Council on Crime and Justice $265,310 2007 18 months
Dallas County District Attorney's Office $454,000 2008 24 months
Death Penalty Information Center $125,000 2007 12 months
Drug Policy Alliance $750,000 2004 3 years
Families Against Mandatory Minimums $500,000 2006 2 years
Family Justice $30,000 2007 4 months
Fight Crimes: Invest in Kids $250,000 2007 2 years
Florida Justice Institute $52,000 2007 2 years
Florida Partners in Crisis, Inc. $125,000 2008 1 year
FrameWorks Institute $270,000 2003 2 years
Georgia State University Research Foundation $477,132 2006 2 years
Grand Rapids Community Foundation $205,000 2006 1 year
Immigrant Legal Resource Center $200,000 2004 2 years
Immigrant Legal Resource Center $25,000 2006 1 year
Innocence Project $2,400,000 2004 3.5 years
Innocence Project $2,250,000 2008 36 months
Institute for Social and Environmental Justice Education $61,680 2006 6 months
Intermountain Harm Reduction Project $35,000 2006 1 year
Job Opportunities Task Force $231,000 2007 24 months
John Jay College of Criminal Justice, Center for Modern Forensic Practice $249,000 2008 12 months
Kansas Department of Corrections $450,000 2006 1 year
Kansas Department of Corrections $4,670,000 2006 3 years
Local Initiatives Support Corporation $592,000 2005 2 years
Louis de la Parte Florida Mental Health Institute $156,000 2007 1 year
MDRC $1,097,143 2006 4 years
Mental Health Association of Palm Beach County $300,000 2005 2 years
Michigan Council on Crime and Delinquency $300,000 2008 8 months
Michigan Public Health Institute $334,300 2007 5 months
Michigan Public Health Institute $197,154 2007 2 months
Michigan Public Health Institute $280,000 2007 5 months
Missouri Department of Corrections $240,300 2008 12 months
National Center for Youth Law $204,000 2008 8 months
National Commission on Correctional Health Care $451,500 2003 3 years
National Employment Law Project $90,000 2006 18 months
National Governors Association $400,000 2005 2 years
National Housing Law Project $50,000 2006 6 months
New Jersey Association on Correction $90,000 2006 1 year
New Jersey Institute for Social Justice $450,000 2004 3 years
Pacific News Service $50,000 2006 1 year
Police Foundation $353,000 2008 28 months
Positive Health Program $264,999 2006 1 year
Pretrial Justice Institute $300,000 2007 12months
Pretrial Justice Institute $193,000 2007 12months
Pretrial Services Resource Center $343,528 2006 1 year
Pro Bono Net $50,000 2006 6 months
Public Policy Associates $67,500 2007 9 months
Public Policy Associates $1,694,914 2005 30 months
Rhode Island Family Life Center $512,014 2007 24 months
Rutgers University $236,554 2006 2 years
Stop Prisoner Rape $300,000.00 2008 2 years
Texas Defender Service $280,000 2006 2 years
The American Judicature Society $700,000 2007 18 months
The Defender Association $271,510 2006 18 months
The Institute $156,000 2004 2 years
The Sentencing Project $350,000 2006 1 year
The Urban Institute $112,986 2006 1 year
Tides Foundation $120,000 2004 18 months
Transactional Records Access Clearinghouse $283,000 2005 2 years
University of California, Berkeley School of Law $500,000 2007 1 year
University of California, Berkeley School of Law $296,600 2007 3 years
University of Missouri - St. Louis $$226,700 2008 16 months
University of Pennsylvania, School of Social Work $117,500 2007 1 year
Urban Institute $98,000 2007 9 months
Vera Institute of Justice $500,000 2007 24 months
Vera Institute of Justice $500,000 2007 30 months
Vera Institute of Justice $600,000 2007 24 months
Vera Institute of Justice $500,000 2005 2 years
Vera Institute of Justice $900,000 2004 3 years
Vera Institute of Justice $38,400 2005 1 year
Vera Institute of Justice $75,000 2007 3 months
Volunteers of America $500,000 2003 4 years
WISDOM $71,500 2007 15 months
Western Prison Project $200,000 2005 2 years
Western Prison Project $63,400 2006 9 months
Wisconsin Court System, Director of State Courts Office $573,000 2007 3 years
Women's Prison Association & Home, Inc $150,000 2007 2 years
Women's Prison Association & Home, Inc. $150,000 2007 1 year

Originally posted by Merk
In all fairness, Ponzi schemes are already illegal. It's neglegent regulators that didn't catch this, not lack of regulation.

I'm actaully surprised this guy was a crook, he had such strong ties to the Democrats, that I'm shocked, shocked I say.

http://firedoglake.com/2008/12/14/madoff-was-huge-dem-donor/

Looks like the Kos Kiddies are angry about it, ...[text shortened]... 150,000 2007 2 years
Women's Prison Association & Home, Inc. $150,000 2007 1 year

At least there's a silver lining in this.

Originally posted by Bosse de Nage
And you blue-eyed free-marketeers still frown at financial regulation ...

http://www.mg.co.za/article/2008-12-19-obama-promises-adult-supervision-for-wall-street

I have no problem with regulators determining whether or not people are obeying laws. They are the financial equivalent of the police.

Saying you are investing money when you aren't is a breach of contract and a lie and should be discovered as soon as possible.

The only regulations "blue-eyed freemarketeers" have problems with are those restricting how people invest their money. That should be up to the individual.

Originally posted by Wajoma
Latest News: Madoff is being head hunted by Obamas' recruiters looking for someone to run the guvamints ponzi scheme but he was too daunted by the immense scale of it.

When you think about it, pretty much everything is a ponzi scheme. 😉

Originally posted by knightwest
Madoff didn't start off as a Ponzi crook.

Oh, when was he converted. The real hook in all this is that Modoff scammed not a bunch of idiot simpletons, but some of the supposedly most sophisticated investors on Wall Street, people who should have known better, done some due diligence.

The whole thing and the banking crisis before it is not because of laizzez faire, or the lack of regulations, but because of ignoring the in place regulations because of the alleged good works of first Fannie and Freddie, and now of Madoff.

Statist Progressives are willing to overlook anything as long as the good deeds supposedly get done. Free marketeers watch out for corruption because they've got money to lose, and the government is unlikely to bail them out unless their reason d'etre was doing of good deeds.

Originally posted by Wajoma
Latest News: Madoff is being head hunted by Obamas' recruiters looking for someone to run the guvamints ponzi scheme but he was too daunted by the immense scale of it.

Good point. Madoff is a piker compared to FDR and those who've propped up the Social Security ponzi scheme.

If any private insurance company sold a policy with the actuarial credentials of Social Security, everyone from the CEO to the secretaries would be indicted.

Originally posted by whodey
When you think about it, pretty much everything is a ponzi scheme. 😉

How so? You do know the origins of the term?

Originally posted by Merk
Madoff, single-handedly, has done more harm to the Progressive cause than almost anyone yet realizes. And, that's because The JEHT Foundation, one of the leading providers of grants for all things Progressive, has just abruptly announced they're shutting their doors at the end of January as a result of having come to the realization that they've lost virtually all their money because it was all under Madoff's management.

Sounds like Madoff was a deep cover right wing plant!

Originally posted by whodey
What can I say, we have the best government money can buy!!!

As in " we have the best, government-money can buy ? "

or " we have the best government, money can buy ? "

Given the aversion Americans have for paying taxes to support anything other than their own short term self interest, and given the power of corporate lobbyists in Washington, it would seem that in either case you guys are right royally stuffed.

Originally posted by kmax87
As in " we have the best, [b]government-money can buy ? "

or " we have the best government, money can buy ? "

Given the aversion Americans have for paying taxes to support anything other than their own short term self interest, and given the power of corporate lobbyists in Washington, it would seem that in either case you guys are right royally stuffed.[/b]

For about the last hundred years Americans have been supporting paying taxes for short term selfish benefits the government promises to discrete groups, with the promise that someone else will pay the taxes to support those promises.

Politicians buy votes by promising they'll make someone else pay the bills, usually "the rich".